MoneyHub NZ
  • Search
  • Investing
    • Investing Platforms
      • Reviews
        • Sharesies Review
        • Hatch Review
        • Stake Review
        • Tiger Brokers (NZ) Review
        • Superhero Review
        • BlackBull Markets Share Trading Platform Review
        • ASB Securities Review
        • Jarden Direct Review
        • InvestNow Review
        • Kernel Review
        • Flint Wealth Review
        • Interactive Brokers
        • Smartshares Review
        • Catalist Review
      • Comparisons
        • Sharesies vs Hatch vs Stake
        • Hatch vs Stake
        • Hatch vs Tiger Brokers
        • Sharesies vs Tiger Brokers
        • Stake vs Tiger Brokers
        • Comparing Sharesies vs Investnow vs Hatch vs Jarden Direct and more
        • Best Investment Apps
        • How Do I Start Investing?
        • Virtual Stocks and Shares Trading Games
      • Guides
        • How to Invest in Shares
        • Investing in Vanguard Funds from New Zealand
        • Investing in the US Stock Market from New Zealand
          • How To Buy Tesla Shares
          • How To Buy Apple Shares
          • How To Buy Amazon Shares
          • How To Buy Alphabet Shares
          • How To Buy Netflix Shares
          • How To Buy Microsoft Shares
          • How To Buy Meta Shares
        • What Happens If Your Investing Platform Shuts Down?
        • Fractional Shares
        • Transferring Share Portfolios
        • How to Read and Understand a Share Chart
        • NZX in a Nutshell
        • Investing in Asian Markets from New Zealand
        • Understand Gross vs Net
    • Introduction to Investing
      • Guides
        • Index Funds
        • 10 Ways to Invest in New Zealand
        • How to Invest Regularly
        • Passive Investing vs Active Investing
        • Investments You Can Own Forever
        • Investing Mistakes
        • ETFs (Exchange Traded Funds)
        • Best Retirement Income Products in New Zealand
        • Index Funds vs ETFs
        • Shares vs ETFs
        • Dollar-Cost Averaging Guide
        • Passive Income Strategies
        • How Wealthy New Zealanders Invest Their Money
        • The Best Way to Invest Inheritance or a Windfall
        • Barefoot Investor-Friendly Financial Products in New Zealand
        • Investment Terms Glossary
        • IPOs
        • Investing in Dividend Shares
        • Common Shareholder Numbers in New Zealand
        • Shorting a Stock
        • Investing vs Trading vs Gambling
      • Young People and Investing
        • Investing for Kids
        • Investing For Grandchildren
        • 10 Top Investments for Young New Zealanders
        • Sharesies Kids Accounts Review
        • SquareOne Review
        • Dosh Review
      • Investing Calculators
        • Compound Interest Calculator
        • Investment Calculator
        • Savings Calculator
        • Net Worth Calculator
        • Million Dollar Calculator
    • Managed Funds, Tax & DIY Investing
      • Guides
        • Investing Guide
        • Our Favourite Funds
        • Advisers
          • Financial Advisers Overview
          • DIY Investing vs Investment Brokerage Firms vs Financial Advisors
          • Financial Advisers Auckland
          • Financial Advisers Wellington
          • Financial Advisers Christchurch
        • Bank Credit Ratings
        • Tax on Investments and Savings
        • Capital Gains Tax
        • Bright-Line Test
        • Ethical Investing
        • Best ESG Funds
        • Asset Allocations to Build Wealth
        • Managing Offshore Investments for Returning New Zealanders and Migrants
        • Managed Funds
          • Booster Private Land and Property Fund Review
        • How to Buy and Sell Bonds
        • Buying NZ Corporate Bonds
        • Trading in a Nutshell
        • Peer to Peer Lending
        • Crowd Funding Guide
        • REITs Guide
        • Jasper Review
        • Investing & Personal Finance Podcasts
        • Emergency Funds
        • UK Pension Transfer to New Zealand
        • Returning to the UK from NZ
        • Spending Your Savings in Retirement
        • How to Take Income from Investments
        • What Am I Entitled to If My UK Pension Scheme or Provider Makes a Mistake?
        • Investment Scams
        • Investing in Recession-Proof Sectors and Asset Classes During a Downturn
        • Hedging Investments
        • Top Personal Finance Books for New Zealanders
        • Top Ten Personal Finance Resources
      • Reviews
        • Simplicity Investment Funds Review
        • Lending Crowd Review
        • Squirrel Review
        • Sharesight Review
        • Lifetime Retirement Income
        • New Zealand Financial Markets Authority (FMA)
      • Calculators
        • Managed Funds Fee Calculator
        • Basis Points Calculator
        • Inflation Calculator
        • Retirement Calculator New Zealand
    • Alternative Investments and Trading
      • Reviews
        • BlackBull Markets Review
        • CMC Markets Review
        • Plus500 Review
        • IG Review
        • TMGM Review
        • CMC Markets vs Plus500 vs IG Markets vs BlackBull Markets
      • Guides
        • How to Invest in Gold
        • How to Invest in Silver
        • Forex Trading Guide
        • Options Trading
        • Contracts for Difference (CFDs) Guide
        • Futures Trading
        • Commodities Trading
        • Forex Trading Tools
        • Forex Trading Platforms Comparison
        • Forex Trading Courses and Education
        • Forex Regulation
        • Copy Trading
    • Cryptocurrency
      • Reviews
        • Easy Crypto Review
        • Swyftx Review
        • Binance Review
        • Easy Crypto vs Swyftx
        • Independent Reserve Review
        • eToro Review
        • Coinbase Review
        • Kiwi-Coin Bitcoin Exchange Review
        • Vault International Bitcoin Fund Review
      • Guides
        • How to Buy Bitcoin in New Zealand
        • Beginner's Guide to Bitcoin and Blockchain
        • Guide to NFTs
        • Bitcoin Wallet Guide
        • Bitcoin Mining
        • How to Sell Bitcoin
        • Bitcoin and Crypto Scams
        • Initial Coin Offerings
        • A Beginner’s Guide to Investing in Cryptocurrencies
        • Decentralised Finance
        • Bitcoin in New Zealand
        • New Zealand Bitcoin Exchanges
        • How to Buy Ethereum in New Zealand
        • Other Coins
          • How to Buy Ripple in New Zealand
          • How to Buy Cardano in New Zealand
          • How to Buy Dogecoin in New Zealand
          • How to Buy Litecoin in New Zealand
          • How to Buy Polkadot in New Zealand
  • Loans & Finance
    • Car Finance
      • Car Finance Calculator
      • Electric Vehicle Loans
      • How to Refinance Your Car Loan
      • Car Loan Refinance Calculator
      • Car Dealership Finance vs Alternatives
      • Bad Credit Car Loans
      • Car Finance Company Reviews
        • AA Money Review
        • Better Finance Review
        • Kiwi Car Loans Review
        • MTF Finance Review
        • Simplify Loans Review
        • Car Loan Brokers vs Direct Car Finance
      • Car Finance Must-Knows Guides
        • Buying a Car Loan vs Personal Loan?
        • Car Loans and Collateral
        • Car Loan Guarantors
        • How to Save for a Car
        • Paying Cash for a Car vs Car Finance
        • Balloon Payments
      • Car Finance Add-On Insurance Guides
        • GAP (Guaranteed Asset Protection Insurance) Insurance
        • MBI (Mechanical Breakdown Insurance)
        • PPI (Payment Protection Insurance)
    • Personal Loans
      • Debt Consolidation Loans
      • Secured Loans
      • Home Renovation Loans
      • Online Loans
      • Bad Credit Loans
      • Beneficiary Loans
      • Payday Loans
      • Cash Advance
      • Same Day Loans
      • Low Income Loans
      • Personal Loan Calculator
      • Debt Consolidation Calculator
      • Refinance Personal Loan Calculator
      • Home Renovation Loan Calculator
      • Interest Calculator
      • Harmoney Loans Review
      • Nectar Review
      • Avanti Finance Review
      • Save My Bacon Review
    • Credit Scores & Interest Rates
      • Credit Scores and Credit Checks
      • How to Build Credit in New Zealand
      • How to Pay Down Debt Faster
      • Baycorp and Debt Collection
      • Interest Rates Guide
      • Interest Rate Comparison
      • Buy Now Pay Later Apps
        • Afterpay Review
        • Laybuy Review
        • Humm Review
        • Zip Review
  • Insurance
    • Car Insurance
      • Guides
        • How to Get Cheaper Car Insurance
        • Car Insurance Calculator
        • No Claims Bonuses Explained
        • Car Insurance Excess Explained
        • Cheapest Cars to Insure
        • Modifications that Make a Car Uninsurable
        • Car Insurers Directory
        • Car Insurance Glossary
      • Reviews
        • Tower Car Insurance Review
        • Cove Car Insurance Review
        • Trade Me Car Insurance Review
      • AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance
      • Young Driver Car Insurance
      • Third Party Car Insurance
      • Caravan Insurance
    • Home, Contents and Other Insurance
      • House Insurance
      • House Insurance Calculator
      • Difficult to Insure Areas
      • Insuring Old Houses
      • Contents Insurance
      • Home and Contents Insurance
      • Renters' Insurance
      • Landlord Insurance
      • Dental Insurance and Dentist Plans
      • Phone Insurance
      • Insurance Excess
      • Motorbike Insurance
      • Initio Review
      • Insurance Brokers
        • Trusted Insurance Brokers in Wellington
        • Trusted Insurance Brokers in Christchurch
    • Pet Insurance
      • Is Pet Insurance Worth Buying?
      • Cat and Dog Desexing
      • Getting a Kitten
      • Buying a Puppy
      • Pet Euthanasia
      • Vet Costs in New Zealand
      • Costs of Owning a Cat
      • Costs of Owning a Dog
    • Life & Health Insurance
      • Life Insurance
        • Life Insurance Policy Comparison - Cigna vs AIA vs Asteron Life vs Fidelity vs Westpac vs Partners Life
        • Life Insurance Calculator
        • Pre-Existing Medical Conditions
        • Buying Life Insurance Direct vs Using an Insurance Broker
        • Life Insurance Policies - Features and Questions to Ask
        • When To Cancel Or Change a Life Insurance Policy
        • Life Insurance For Smokers and Vapers
      • Health Insurance
        • Going to Australia for Medical Treatment
      • Income Protection Insurance
        • ACC vs Income Protection Insurance
        • Income Protection Insurance for Self Employed
      • Mortgage Insurance
      • Trauma Insurance
      • Redundancy Insurance
      • Funeral Insurance
        • What to Do When a Spouse or Partner Dies
        • Funeral Costs
  • Credit Cards
    • Best Credit Cards
    • Rewards and Cashback Credit Cards
    • The Best American Express Credit Cards
    • Air New Zealand Airpoints Credit Cards
      • ANZ vs AMEX vs Kiwibank vs Westpac Platinum Airpoints Credit Cards
      • ANZ Airpoints Visa Platinum vs AMEX Airpoints Platinum
      • Kiwibank Airpoints Platinum Visa vs AMEX Airpoints Platinum
      • Westpac Airpoints Platinum Mastercard vs AMEX Airpoints Platinum
    • Balance Transfer Credit Cards
    • Platinum and Gold Credit Cards
    • Reviews
      • American Express Credit Cards Review
        • American Express Airpoints Platinum Review
        • American Express Gold Rewards Card Review
        • AMEX Comparison - Airpoints Platinum vs Gold Rewards
        • American Express Free Card vs Airpoints Platinum
        • American Express Platinum Card Review
        • American Express Membership Rewards Program Review
        • AMEX Cardholder Feedback
        • The Best Ways to Spend AMEX Membership Rewards Points
        • Qantas Credit Cards
        • Singapore Airlines KrisFlyer Credit Cards
        • Cathay Pacific Asia Miles Credit Cards
        • Emirates Skywards Credit Cards
        • RewardPay Review
      • Flight Centre Mastercard Review
    • Guides
      • Pay Off Credit Card Debt
      • Credit Card Basics
      • Mastercard vs Visa
      • Credit Card Minimum Payments Explained
      • Where is Amex Accepted?
      • Credit Card Interest Calculator
      • How to Request a Credit Card Chargeback
    • Other Credit Cards
      • Travel Money Cards
        • Australia Travel Money
        • Bali Travel Money
        • Fiji Travel Money
        • Rarotonga Travel Money
        • UK Travel Money
      • Wise Debit Card Review
      • Revolut Review
      • Revolut vs Wise - Which Is Better?
      • Travelex Money Card vs Wise Debit Card Comparison
      • OneSmart Card vs Wise Debit Card Comparison
      • Cash Passport vs Wise Debit Card Comparison
      • Best Foreign Currency Debit & Credit Cards
      • Free Credit Cards
      • Low Interest Credit Cards
      • Credit Cards for Bad Credit
      • Q Card & Q Mastercard Review
      • GEM Visa Review
      • Onecard Visa Review
      • Purple Visa Review
  • Banking & Savings
    • Banking
      • Best Bank Accounts
      • Best Debit Cards
      • Best Joint Bank Accounts
      • Kids Bank Accounts
      • Cut Overdraft Costs
      • Private Banking
      • International Money Transfers
      • Open an Australian Bank Account from New Zealand
      • Open a UK Bank Account from New Zealand
    • Savings
      • Best Term Deposits
      • Booster Savvy Review
      • Best PIE Term Deposits
      • Best Call Accounts
      • Best Savings Accounts
      • Term Deposit Alternatives
    • Guides and Resources
      • Banks vs Credit Unions
      • Open Banking Guide
      • NZ Bank Prefix Codes
    • Reviews
      • Wise Money Transfer Review
      • Heartland Bank Review
      • First Credit Union Review
      • NZCU Baywide Review
      • The Co-operative Bank NZ Review
      • Western Union Review
  • Mortgages
    • Mortgage Essentials
      • Best Home Loans
      • Mortgage Calculator
      • How Much Can I Borrow?
      • Debt to Income Ratios
      • Equity (and Leverage) Calculator
      • Mortgage Repayment Calculator
      • Mortgage Options
      • Mortgage Cashback
    • Other Mortgage Options
      • Interest-Only Mortgages Guide
      • Interest-Only Mortgage Calculator
      • Revolving Credit Mortgages
      • Offset Mortgages
      • Offset Mortgage Calculator
      • Fixed vs Floating Mortgage Rate Calculator
      • Understanding Interest Rate Swaps
      • What is the OCR?
    • Alternative Mortgage Options
      • Low-Deposit Home Loans
      • Rent to Own Homes
      • First Home Loan Guide
      • Reverse Mortgages
    • Mortgage Management
      • Saving for a House Deposit
      • Pay Off Your Mortgage Faster
      • Mortgage Overpayment Calculator
      • Remortgaging Guide
      • Mortgage Relief and Holidays
      • Amortisation Calculator
      • Mortgage Break Fees
      • Defaulting on a Mortgage
      • High Deposit Mortgages
      • Negative Equity
      • How to Manage Higher Mortgage Payments
      • Mortgage Refinance Calculator
    • Mortgage Brokers
      • Mortgage Brokers Explained
      • Trusted Auckland Mortgage Brokers
      • Trusted Hamilton Mortgage Brokers
      • Trusted Mortgage Brokers in Tauranga
      • Trusted Mortgage Brokers in Napier and Hastings
      • Trusted Mortgage Brokers in Wellington
      • Trusted Mortgage Brokers in Christchurch
    • Buying a Home
      • First Home Buyers Checklist
      • Home Buying Glossary
      • Best House Price & Valuation Websites in New Zealand
      • New Zealand Property Types
      • Rateable Value vs Market Value
      • Leasehold Property Guide
      • Conveyancing vs Lawyers
      • Buying an Apartment in New Zealand
      • Buying vs Renting a House
    • Selling a Home
      • How to Sell Your House Privately
      • Real Estate Agent Fees
      • Bridging Finance
    • Property Investment
      • Investment Property Mortgages
      • Renting Directly to Tenants vs Using an Agent
    • Building a House
      • Average Building Cost Per Square Metre
      • Cost to Build a New House
      • Buying Land to Build a House
      • Construction Loans
      • Tiny Homes in New Zealand
  • KiwiSaver
    • KiwiSaver Basics
      • Our Favourite KiwiSaver Funds
      • Is KiwiSaver Safe?
      • Choosing a KiwiSaver Fund
      • Choosing Your KiwiSaver Scheme
      • Balanced vs Moderate vs Growth KiwiSaver Funds - What is right for me?
      • KiwiSaver Must-Know Facts
      • Opting out of KiwiSaver
      • What Do I Do With My KiwiSaver When I Retire?
      • KiwiSaver Withdrawal
      • Switching KiwiSaver Funds
      • KiwiSaver Robo and Digital Advice Tools
      • Ethical Kiwisaver Funds
      • KiwiSaver Private Equity Investments
    • KiwiSaver Contributions & Tax
      • Your KiwiSaver Contributions
      • KiwiSaver Contributions - Gross or Net?
      • Employer KiwiSaver Contributions
      • Government KiwiSaver Contributions
      • KiwiSaver Savings Suspensions
      • Voluntary Contributions
      • What's My PIR?
      • KiwiSaver and Tax
    • KiwiSaver for Life Events and Specific Situations
      • Average KiwiSaver Balance by Age
      • KiwiSaver First-Home Withdrawal
      • KiwiSaver First Home Grant Guide
      • KiwiSaver Hardship Applications
      • KiwiSaver in a Divorce or Separation
      • KiwiSaver for Kids
    • KiwiSaver Schemes
      • Amanah KiwiSaver Scheme
      • AMP KiwiSaver Scheme
      • ANZ KiwiSaver Scheme
      • ASB KiwiSaver Scheme
      • AON KiwiSaver Scheme
      • BNZ KiwiSaver Scheme
      • Booster KiwiSaver Scheme
      • Fisher Funds KiwiSaver Scheme
      • Generate KiwiSaver Scheme
      • InvestNow KiwiSaver Scheme
      • JUNO KiwiSaver Scheme
      • Kernel KiwiSaver Review
      • Kiwi Wealth KiwiSaver Scheme
      • kōura Wealth KiwiSaver Review
      • Lifestages KiwiSaver Scheme
      • MAS KiwiSaver Scheme
        • MAS Review
      • Mercer KiwiSaver Scheme
      • Milford KiwiSaver Plan
      • New Zealand Defence Force KiwiSaver Scheme
      • Nikko AM KiwiSaver Scheme
      • Pathfinder KiwiSaver Review
      • QuayStreet KiwiSaver Scheme
      • Simplicity KiwiSaver Review
      • Summer KiwiSaver Scheme
      • SuperLife Review
      • Westpac KiwiSaver Scheme
    • KiwiSaver Calculators
      • KiwiSaver Calculator
      • KiwiSaver Returns Calculator
  • Business
    • Compare Business Loans
      • Business Line of Credit
      • Business Borrowing Options
      • Small Business Loans
      • Operating Leases
      • Finance Leases
      • Operating Leases vs Financing Leases
      • Prospa Business Loans Review
      • Bizcap Business Loans Review
    • Business Insurance
      • Public Liability Insurance
      • Business Interruption Insurance
      • Professional Indemnity Insurance
    • Business Credit Cards
    • Business Essentials
      • Money Saving Tips For Businesses
      • Get Debtors to Pay Overdue Invoices
      • Working Capital
      • Liquidations and Receiverships
      • Can't Make Payroll Guide
      • Buying out a Business Partner
      • Business Brokers
    • Business Calculators
      • Business Loan Calculator
      • ROI Calculator
      • IRR Calculator
      • Internal Rate of Return
      • Percent Off Calculator
      • Profit Margin Calculator
      • Current Ratio Calculator
      • Quick Ratio Calculator
    • Online Services
      • Domain Names
      • Trusted Web Designers
        • Auckland Web Designers
        • Hamilton Web Designers
        • Wellington Web Designers
        • Christchurch Web Designers
        • Tauranga Web Designers
        • Lower Hutt Web Designers
        • Dunedin Web Designers
      • Digital Identity Programs and Online Verification Tools
      • Social Media Influencer Marketing
      • PayPal NZ Account Fees
      • Paypal vs Stripe Review
      • Hnry Review
      • n3 Trade Card Review
      • Plain English Awards
    • For Startups
      • How to Start a Business in New Zealand
      • Raising Capital
      • Product Market Fit
      • Crowdfunding vs Bank Financing
      • Blackbird vs Movac
      • How to Become an Angel Investor
      • How to Raise Money from Angel Investors
      • Alternatives to VC Funding
      • Hiring for a Startup
      • VCFO (Virtual CFO)
      • New Zealand Startup and Founder Incubators
      • Expanding Offshore
      • New Zealand Invoice Template
      • Business Podcasts
  • MSD
    • Navigating Work and Income Benefits
    • Jobseeker Support Benefit Rates 2023 and 2024
    • Jobseeker Support Guide
    • Accommodation Supplement Guide
    • Disability Allowance
    • MyMSD
    • Community Services Card
    • Hardship Assistance - Urgent Costs and Living Expense Assistance
    • Loans for Unemployed
    • Working for Families Guide
    • Childcare Subsidies in New Zealand
    • NZ Superannuation in a Nutshell
    • Superannuation Rates 2023
    • Government Departments Helping New Zealanders Directly
    • COVID-19 Help
    • Food Grants Guide
    • Food Banks Directory
      • Food Banks Auckland
      • Food Banks Northland
      • Food Banks Hamilton Waikato
      • Food Banks Wellington
      • Food Banks Christchurch
  • Motoring
    • Buying and Selling a Car
      • Car Valuations
      • Buying a Used Car
      • Selling a Car
      • CarJam Review
      • CarJam vs MotorWeb Car Report Comparison
      • Top Cars that Hold Their Value
      • Vehicle Leasing
      • Car Registration in New Zealand
    • Everyday Driving
      • Costs of Owning a Car
      • 20 Ways to Make Driving Cheaper
      • Gaspy App Review
      • Parking Tickets
      • AA Membership Review
      • Best Car Batteries
      • Best Electric Cars
    • Warrant of Fitness
      • Guide to Warrant of Fitness
      • Warrant of Fitness Auckland
      • Warrant of Fitness Hamilton
      • Warrant of Fitness Tauranga
      • Warrant of Fitness Lower Hutt
      • Warrant of Fitness Wellington
      • Warrant of Fitness Christchurch
      • Warrant of Fitness Dunedin
  • Law
    • Wills Guide
    • Separation Agreements
    • Prenuptial Agreements
    • Divorce Guide
    • Trusts Guide
    • Enduring Power of Attorney Guide
    • Living Wills Guide
    • Probate
    • Agreeable Review
    • Footprint Online Wills Review
    • Perpetual Guardian
  • Job Hunting
    • Job Applications
      • CV Templates & Tips
      • Cover Letters
      • Common Interview Questions
    • Guides & Resources
      • How to Improve Your LinkedIn Profile
      • Part-Time Jobs Guide
      • Redundancy Payouts and Entitlements
      • How to Get Promoted
      • Self-Employment Guide
      • Workplace Bullying
    • Recruitment Agencies
      • Recruitment Agencies Auckland
      • Recruitment Agencies Wellington
      • Recruitment Agencies Christchurch
  • Travel
    • How to Get Access to Airport Lounges
    • Flybuys Review
    • Fastest Way To Earn Air NZ Status Points
    • How to Redeem Air New Zealand Airpoints Dollars
    • Air New Zealand Koru Membership Review
    • Air New Zealand Travel Tips
    • Air NZ Upgrade Guide
    • Airpoints Flexipay Guide
    • No Nonsense Upgrade Guide
    • Cheap Domestic Flights
    • Car Rental Hire
    • Auckland Airport Car Parking
    • First Table Guide
    • Accor Plus Review
    • Queenstown Like a Local
    • Auckland Travel for Less
    • Hotel Booking Sites Compared
    • 100+ Free Things to do in Auckland
    • Layby Flights Guide
    • Airbnb Refunds (Coronavirus)
    • Air New Zealand Refunds & Credits
    • Google Flights Guide
    • Skyscanner Guide
    • Working Holiday Visas
    • Currency Converter
    • Qatar Airways Travel Tips
    • Foreign Currency Exchange
      • Australian Dollars Exchange Rate
      • American Dollars Exchange Rate
      • British Pound Exchange Rate
      • Canadian Dollars Exchange Rate
      • Euro Exchange Rate
      • Fijian Dollars Exchange Rate
      • Hong Kong Dollar Exchange Rate
      • Korean Won Exchange Rate
      • Indian Rupee Exchange Rate
      • Japanese Yen Exchange Rate
      • Malaysian Ringgit Exchange Rate
      • South African Rand Exchange Rate
      • Singapore Dollars Exchange Rate
      • Thai Baht Exchange Rate
      • Chinese Yuan Exchange Rate
  • Broadband
    • Compare Broadband Plans
    • No Contract Broadband
    • Rural Broadband Plans
    • Internet Speed Test
    • Broadband Provider Reviews
      • 2degrees Broadband Review
      • Bigpipe Broadband Review
      • Compass Broadband Review
      • Contact Broadband Review
      • Electric Kiwi Broadband Review
      • Farmside Broadband Review
      • Flip Broadband Review
      • Mercury Broadband Review
      • MyRepublic Broadband Review
      • NOW Broadband Review
      • One NZ Broadband Review
      • Orcon Broadband Review
      • Spark Broadband Review
      • Skinny Review
      • Slingshot Broadband Review
      • Starlink Review
      • Voyager Broadband Review
      • Wireless Nation Broadband Review
  • Power
    • Compare Power Companies
    • Power and Broadband Bundles
    • How to Lower Your Power Bills
    • Fixed Contracts vs Open Power Plans – What You Need to Know
    • Electric Vehicle Power Plans
    • How to Use Less Power
    • Power Companies
      • Contact Energy Review
      • Ecotricity Review
      • Electric Kiwi Review
      • Flick Electric Review
      • Frank Energy Review
      • Genesis Energy Review
      • Globug Review
      • Mercury Review
      • Meridian Energy Review
      • Nova Energy Review
      • Powershop Review
      • Z Energy Power Review
  • Financial Independence
    • FIRE Guides
      • Retirement in a Nutshell
      • How to Retire Early
      • FIRE Explained
      • The Four Percent Rule
      • Achieving Financial Independence, Faster
      • Five Types of FIRE Plans
      • Getting FIRE’d in New Zealand
      • FIRE and NZ Real Estate
    • FIRE Tools
      • Budgeting Apps
      • Debt Repayment Apps
      • Free Financial Literacy Classes
      • Free Financial Products
      • 50/30/20 Budget Calculator
      • Budget Planner
    • Tax
      • Beginner's Guide to Tax
      • Salary Sacrifice in New Zealand
      • Tax Bracket Creep
      • Tax Refunds
    • Money Tips
      • 20 Things to Stop Buying to Have More Money
      • 20 Indicators You're Doing Well Financially
      • 20 Must-Know Money Lessons (Learned From Experience)
      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
      • CAP (Christians Against Poverty) Review
      • Debtfix Review
      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
      • Average NZ Salary by Age
      • How to Maximise Income in Retirement
      • How to Handle Rising Interest Rates
      • Free Money from the Government
      • Bankruptcy Guide
      • Unclaimed Money in New Zealand
      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
      • Acupuncture Auckland
      • Arborists Auckland
      • Asbestos Removal Auckland
      • Auto Electricians Auckland
      • Bathroom Renovations Auckland
      • Builders Auckland
      • Building Inspectors Auckland
      • Cabinet Makers Auckland
      • Car Detailing Auckland ​
      • Catering Auckland
      • Cattery Auckland
      • Chimney Sweep Auckland
      • Chiropractors Auckland
      • Cleaners Auckland
      • Computer Repair Experts Auckland
      • Concreters Auckland
      • Dentists Auckland
      • Dog Boarding Kennels Auckland
      • Dog Daycare Auckland
      • Dog Grooming Auckland
      • Dry Cleaners Auckland
      • Electricians Auckland
      • Eyelash Extensions Auckland
      • Firewood Auckland
      • Flooring Companies Auckland
      • Fridge Repair Auckland
      • Garage Door Repair Auckland
      • Glaziers Auckland
      • Graphic Design Auckland
      • Gutter Cleaning Auckland
      • Gym Memberships Auckland
      • Hair Salons Auckland
      • Heat Pump & AC Specialists Auckland
      • Home Security Systems Auckland
      • Korean BBQ Auckland
      • Land Surveyors Auckland
      • Landscapers Auckland
      • Lawn Mowing Services Auckland
      • Locksmiths Auckland
      • Mechanics Auckland
      • Makeup Artists Auckland
      • Naturopaths Auckland
      • Optometrists Auckland
      • Painters Auckland
      • Panel Beaters Auckland
      • Personal Trainers Auckland
      • Pest Control Auckland
      • Plumbers Auckland
      • Podiatrists Auckland
      • Puppy School Auckland
      • Roofing Auckland
      • Scaffolding Auckland
      • Screen Printing Auckland
      • Solar Panels Auckland
      • Quality Tyres Auckland
      • Wedding Car Hire Auckland
      • Wedding Celebrant Auckland
      • Wedding Photographers Auckland
      • Wedding Videographers Auckland
      • Window Tinting Auckland
    • Wellington Trade Services
      • Arborists Wellington
      • Bathroom Renovations Wellington
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How to Refinance Your Car Loan (and the Best Offers) - December 2023

Paying too much for car finance? Sadly, throughout New Zealand, that is all too common. Our guide navigates you through what you need to know, and, most importantly, how you can switch to lower car repayments.
Best Car Refinancing
Updated 5 December 2023

Our guide to car refinancing aims to help bring down the cost of car loans. We've published this guide to explain refinance options available, how to minimise ongoing repayments and reduce the total interest costs you pay. We cover:
  • How Does Car Refinancing Work?
  • How to Arrange the Best Car Refinancing Deal
  • ​Car Refinancing - Pros and Cons
  • 7 Tips for Refinancing your Car Loan
  • Best Car Refinancing Offers Currently Available
  • Car Refinancing - Frequently Asked Questions

Know This First: What Does it Mean to Refinance your Car Loan?

Refinancing your car loan means paying off your existing car loan with another loan. Most people choose this option when they can save money by refinancing. Sometimes it's a lower rate or better term and other times they need help affording their loan payment, or they risk losing their car.
 
When done right, you should save hundreds or thousands of dollars by refinancing your car. Before you do, here's what you should know, including how to tell if refinancing is right for you.
 
Be aware - refinancing a car loan is not right for everyone. Before making any decision, please compare the total costs in detail.
 
Want to know how much you may be able to save? Our ​Car Loan Refinance Calculator shows you instantly.

​Looking for the best car finance offers? Our dedicated car finance guide has you covered.

MoneyHub Founder Christopher Walsh shares his comments on car loan refinancing:

"Our team, who talks to many reputable car lenders as part of our research efforts, frequently sees verified 9% p.a. and 10% p.a. car loans offered to New Zealanders nationwide. Paying 15%+ p.a. is hard to justify when challenger lenders offer better terms".

"A 5% difference in an interest rate on a $10,000 loan saves about $500 every year - this is a significant saving. But, before you refinance, make sure all the costs are clear - sometimes fees can take a bite out of any savings. If you're in doubt, ask the lender -
they must, by law, answer all of your questions with hard numbers". 

"Car finance is useful but it always traps a lot of New Zealanders into long-term debt. For this reason alone you should carefully consider your options and avoid rushing in to any deal. The numbers need to be affordable - ignore everything else and just look at how much it's going to cost you. Because car loans last for two, three or even five years, making sure you can keep up with the payments is critical to any decision".

MoneyHub Founder Christopher Walsh
MoneyHub Founder
Christopher Walsh


How Car Refinancing Works

How Does Car Refinancing Work?

When you accept a car finance offer, you can later refinance your car loan with a new loan from any lender. You are under no obligation to stay with the same lender. The first step is to contact a lender (online or in-person) to see what rates and terms you may receive. If you are eligible for a better rate or term than you have now, you can refinance.
 
Before refinancing, there are some crucial facts to be aware of:
  1. If you have a loan with an early repayment penalty, you'll need to take this into account. For example, if the fee is $300 and you have $3,000 left to pay on your loan, refinancing will cost the same as 10% of the loan balance, which is most likely to be bad value for money unless you have a very high-interest rate. 
  2. You'll need to make a complete comparison of costs and interest. You may find you still benefit (i.e. save money) refinancing, but you will need to look at the bottom line. 
  3. To properly compare, add up the total cost of the car financing; this is the interest charges, loan fees, and early repayment fees (if applicable). If it's less than the current total financing cost, then it's probably better you stay. 
 
The difference between existing and new car finance deals is best explained with two examples:
 
Situation One
  • Mike currently owes $10,000 on his car, and he's paying 14.95% p.a. interest on the balance.
  • He has 36 months left to repay his loan. Mike's salary has increased since first applying for the car loan, and he knows the interest rate he is paying is too high.
  • He applies for refinancing as is offered 8.95% p.a. There are no early repayment fees for either loan.
  • There is an application fee of $400; this would be added to the loan balance (bringing it to $10,400) if he goes ahead with the refinancing. 
  • He puts together a comparison (see table below)
 
Situation Two
  • Mike currently owes $10,000 on his car, and he's paying 14.95% p.a. interest on the balance.
  • In this example, he has 12 months left to repay the loan and is offered 12.95% p.a. by another company.
  • However, there is a $250 early repayment fee if he refinances which will need to be paid to the current car loan company.
  • There is an application fee of $400; this would be added to the loan balance (bringing it to $10,400) if he goes ahead with the refinancing.
  • He puts together a comparison:​​
Car Finance Terms and Details
Situation One
Situation Two
Loan Amount
$10,000
​$10,000
Interest Rate (existing loan)
14.95% p.a. 
14.95% p.a.
Term
36 months
12 months
Current Monthly Repayment
​$346.65
$902.58
Loan Application Fee
$400
$400
Interest Rate (refinancing offer)
8.95% p.a. 
​12.95% p.a.
New Monthly Repayment
$330.72
$928.90 
Saving Per Month
$15.94
None - the loan is $26.32 more per month
Saving Over Remaining Tern of the Loan
$573.84
None - the loan is $315.84 more expensive over its life compared to the existing finance
Is Refinancing a Better Deal?
Yes
In this situation, it's clear that refinancing will be more expensive than the existing loan. This is because the upfront loan fee ($400), which is added to the loan balance, is not enough to offset the lower interest rate. In such cases, the most affordable option is likely to be full repayment with the current lender.
Source: Car Loan Refinancing Calculator
Warning: Add-on Insurances: Car Lenders may offer you Mechanical Breakdown Insurance (MBI) and/or Guaranteed Asset Protection Insurance (GAP) when you refinance a loan. We do not believe these policies offer value-for-money or cost-effective protection for most people. Our guides to both of these insurance options explain what you need to know. You may be encouraged to buy MBI and/or GAP insurance, but they are not compulsory with any car loan. Our view is that buying add-on insurance makes a car loan more expensive.

Christopher Walsh MoneyHub Founder
Christopher Walsh
MoneyHub Founder

​MoneyHub's Top Car Finance Options - Avoid high interest rates and fees with our trusted lenders.
  • Our car finance comparison research highlighted three leading car finance companies that reliably and consistently offer fair interest rates to most borrowers and are active lenders.
  • We suggest contacting dedicated car loan specialist Simplify - their team has a proven track record of offering market-leading interest rates and terms.
  • We also suggest contacting car-focused lenders like MTF Finance - MTF offers branch-based lending in locations all over New Zealand.
  • Finally, low-fee personal lenders like Harmoney consistently offer car lending and are 100% online.
  • The more you compare, the better your chances of finding the best deal and financing your car for the lowest price.
  • Remember, the interest rate you agree to now makes a huge difference when you repay your car loan week after week.
  • Signing up for finance with a car salesperson is unlikely to be the best or most cost-effective option.
  • Advertising Disclosure: We may receive a commission if you take out a loan, but this does not influence our shortlist. Interest rates vary based on each borrower.
Our Trusted and Affordable Car Lenders Committed to Fast Quotes:
Simplify
MTF
Harmoney
Simplify Car Loan Award
Simplify Car Finance
MTF Finance
Harmoney Secured Car Loans NZ

Best Car Refinancing

How to Arrange the Best Car Refinancing Deal

Refinancing your car is not something you do regularly; if you go ahead, it's important to do it right. ​Before rushing in to a 'cheaper' car loan, it's worth following three proven steps below. By publishing these steps, we are not giving financial advice or recommending you refinance.
  1. The best place to start is to apply with a trusted car finance company that offers low rates and no hidden fees.
  2. If you're successful with your application, you can compare the offered interest rate (and any associated fees) with your existing loan.
  3. If it makes sense (financially) to refinance using the new offer, you can accept the loan offer. 

Know This: In most situations, the new lender pays off your existing car loan, and you start a new loan contract, making payments to your new lender. Security is transferred from the previous lender to the new lender, or, registered against the car by the new lender. 
 
Important: Before you take out a new refinance car loan, find out if there are early repayment fees. If you're extending your term or trying to save money by lowering the rate, you may find you can't repay it early without incurring costs. This may decrease the benefit of refinancing.

Don't be caught by fees - interest rates are not the only cost to compare
  • Each lender charges different fees. Pay close attention and work them into your calculations when deciding if refinancing your car loan is right for you.
  • If you refinance into a secured loan (using your car as collateral), you may secure lower interest rates and fee waivers if you also have good credit.
 
What fees will I pay?
Fees come in many forms. Before signing any new financing deal, look at administrative fees, early repayment fees, late payment fees and penalties, and any other fees a lender charges upfront or ongoing to determine if refinancing your car loan makes sense.

Who is Most Likely to Refinance Their Car Loan?

1. Those contracted into balloon payments - car dealers often offer balloon payments. They can appear to be a good deal - you get a low payment and usually a competitive interest rate. But when the balloon payment comes due, many people are surprised, especially when it's unlikely you can come up with the lump sum owed. In such instances, refinancing your car loan can stretch the amount due out over a few years, allowing you to make monthly payments while paying off the dealer financing loan. This does increase the total interest costs you pay (as the loan is repaid over a more extended period), but it does make it more manageable.
 
2. Those in a better financial situation - if you qualify for a new loan with a lower interest rate, it's likely you're in a better position financially. If you have increased your salary and/or are in a better financial situation than you were when you arranged your car financing, you may secure a lower rate. However, before refinancing, it's essential to look at the bottom. What are the total fees you're saving? Will the monthly payments plus fees total less than what you'd pay if you kept your current loan? For this reason, you can't focus on the interest rate alone as it's not the only cost to compare.
 
3. Those needing more flexible terms - If you need more time to pay off your loan (lower payments), refinancing can provide that opportunity. COVID-19 is one example of unplanned life events; when your financial situation changes, it can make it harder to afford your ongoing car repayments. Refinancing your car loan may reduce the rate or extend the term, both of which lower your payments, making them more affordable.​

Know This: Refinancing isn't suitable for everyone - if you don't fit into the categories above, it may not be for you. Before making any decision, always triple-check the affordability and total cost of borrowing.

Picture

​Car Refinancing - Pros and Cons

Pros
  1. You may secure a lower interest rate, which means less interest paid over the life of the loan
  2. A new loan may lower your payments, even if you have to extend the term if your payments aren't affordable
  3. You may get better loan features including the option to make early repayments
  4. You may consolidate other personal debt with the car loan if you refinance into an unsecured personal loan. Our debt consolidation loans guide has more details. 
  5. You can switch lenders if you're unhappy with the servicing at your current lender
 
Cons
  1. There are almost always costs to refinance, read the fine print to make sure it won't cost you more to take on the new loan
  2. You may extend your term, which results in paying more interest over the life of the loan because it takes longer to repay the loan

Best Car Refinancing

7 Tips for Refinancing your Car Loan

1. Find out all the costs BEFORE making any decision – You don't want to discover after you take the new loan, there are ongoing administrative fees or other charges that increase your payment and decrease your savings. Look at all exit fees from your current loan and setup fees for the new loan and figure them into the total cost.
 
2. Total the interest – Don't focus on the interest rate alone. Just a lower rate doesn't mean you'll save money. Calculate the total interest you'll pay over the loan's term. If it's a new term (longer), you may find you pay more interest refinancing even with the lower rate.
 
3. Know the terms – No two lenders offer the same terms. Find out what you can and can't do with a loan, including making additional repayments. If there's an early repayment fee, you're stuck with the loan for the term, or you'll pay the extra fees.
 
4. Know your car's value – If you refinance into another secured loan, look at your car's value. Is it worth it to refinance, or prioritise the repayment and, if possible, pay it off early? Cars are a depreciating asset, and many people are shocked to find out the car's low worth. A $10,000 used Nissan in 2016 may be worth $4,000 by 2021 etc. 
 
5. Make sure the payment is affordable – If you're taking a secured loan, make sure it's one you can afford. If you can't make your payments, the lender can repossess your car.
 
6. Shop around for the best rates and terms – Don't take the first car refinancing loan you find. Car finance is competitive - get quotes from at least a few lenders and compare your options. Look at the monthly costs, but focus on the total loan costs (bottom line).
 
7. Check (and fix) your credit history – Just like when you bought your car, lenders use your credit history (as well as affordability checks) to determine eligibility. If your credit history has some issues, work with the specific lender or credit provider to resolve them. Otherwise, you may continue to pay above-average interest rate costs as you're seen as higher risk.

Best Car Refinancing Offers

Best Car Refinancing Offers Currently Available

We've put together the best refinancing deals currently available, and list their upfront fees. Each lender will assess your ability to make repayments differently, which means you will most like be offered a range of interest rates by different lenders. What matters is that you can meet the repayments, understand terms and any associated fees.
​
Important: The interest rates stated above (and below) are the best offers - each borrower will be assessed for suitability, whereby an interest rate offer will be provided if the loan is approved. This interest rate may be higher than those disclosed below.

Current Car Refinancing Offers:

Enter Information

I want to borrow

How Pricing months

with the following repayment period:

Best Car Refinancing

Car Refinancing - Frequently Asked Questions

Car refinancing is not something to rush into. To help you navigate your way to lower repayments and reduced interest costs, we have answered some common questions below.

When is the best time to refinance a car loan?

The earlier you are in your loan term, the more sense it makes to refinance. If you wait until you're in the middle or near the end of your term, there is less benefit, and, in some cases, it could be more expensive than your existing deal. You also run the risk of extending the term, which means paying more interest costs overall.

Is it good to refinance your car loan?

It can be good to refinance your car, but it depends on your situation. If you can secure a lower rate and keep the same term and/or take a shorter term, and there are no high fees, then it makes sense. 
 
If you extend your loan term, then it may not always be the best decision financially. Some people need an extended loan term to make their repayments more affordable. It may also make sense if you have a balloon payment with dealer financing, whereby paying the lump sum isn't an option, extending your repayment term to pay it off may be a good option.

Does it hurt your credit history to refinance your car loan?

Your car refinancing will be added to your credit history, but your lender may report positive credit behaviour to its credit agencies if you meet all repayments. 
 
However, other lenders are likely to see a new loan as 'risky' even if it's refinanced. Until you establish a payment history, which only takes a couple of months, other companies may be cautious extending you significant credit. However, given loans are primarily based on security and affordability, refinancing to a better loan should not create any issues.

Is it better to refinance or buy a new car?

Buying a new car is expensive in almost every situation unless you're downgrading. Cars are a depreciating asset - if you can keep your current car and minimise your expenses (i.e. interest and loan fees), you'll come out ahead.

Is there a maximum loan amount for a car refinance?

The maximum loan amount varies by lender and your specifics - the make, model, and year of your car. The lender may also consider the car's mileage. Since the car usually serves as collateral, lenders need to make sure it's worth enough to use for the loan.

How will I know what the fees are?

By law, lenders must send you a disclosure statement that shows the interest rate and all fees to give you the full cost of borrowing. The Commerce Commission makes this very clear for lenders and the penalties for omitting fees or penalties are severe for the lender. You can compare the total costs of borrowing between lenders to determine which one is right for you. 
 
If the differences are small, it's arguable that refinancing isn't worth the effort unless you're going to save significant amounts of money. 

What is on a disclosure statement?

Per Community Law, your disclosure statement must include:
  1. The loan amount
  2. Payment terms
  3. Interest rate and amortisation
  4. Fees
  5. Security interests
  6. Penalties and why they would be assessed
  7. Rights to make early repayments or cancel the loan

As you lender for all of this - it must be communicated and presented to you in plain English. You can then compare the numbers between providers to find the best deal for your needs.


Christopher Walsh MoneyHub Founder
Christopher Walsh
MoneyHub Founder

​MoneyHub's Top Car Finance Options - Avoid high interest rates and fees with our trusted lenders.
  • Our car finance comparison research highlighted three leading car finance companies that reliably and consistently offer fair interest rates to most borrowers and are active lenders.
  • We suggest contacting dedicated car loan specialist Simplify - their team has a proven track record of offering market-leading interest rates and terms.
  • We also suggest contacting car-focused lenders like MTF Finance - MTF offers branch-based lending in locations all over New Zealand.
  • Finally, low-fee personal lenders like Harmoney consistently offer car lending and are 100% online.
  • The more you compare, the better your chances of finding the best deal and financing your car for the lowest price.
  • Remember, the interest rate you agree to now makes a huge difference when you repay your car loan week after week.
  • Signing up for finance with a car salesperson is unlikely to be the best or most cost-effective option.
  • Advertising Disclosure: We may receive a commission if you take out a loan, but this does not influence our shortlist. Interest rates vary based on each borrower.
Our Trusted and Affordable Car Lenders Committed to Fast Quotes:
Simplify
MTF
Harmoney
Simplify Car Loan Award
Simplify Car Finance
MTF Finance
Harmoney Secured Car Loans NZ

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        • What Happens If Your Investing Platform Shuts Down?
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      • Guides
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        • Other Coins
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  • Loans & Finance
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  • Credit Cards
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  • Banking & Savings
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  • Mortgages
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    • Buying a Home
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  • KiwiSaver
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  • Business
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    • For Startups
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  • MSD
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  • Motoring
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  • Law
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  • Job Hunting
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  • Travel
    • How to Get Access to Airport Lounges
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  • Broadband
    • Compare Broadband Plans
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    • Internet Speed Test
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  • Power
    • Compare Power Companies
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    • Fixed Contracts vs Open Power Plans – What You Need to Know
    • Electric Vehicle Power Plans
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    • Power Companies
      • Contact Energy Review
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  • Financial Independence
    • FIRE Guides
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      • How to Retire Early
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      • The Four Percent Rule
      • Achieving Financial Independence, Faster
      • Five Types of FIRE Plans
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    • FIRE Tools
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    • Tax
      • Beginner's Guide to Tax
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    • Money Tips
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      • 20 Indicators You're Doing Well Financially
      • 20 Must-Know Money Lessons (Learned From Experience)
      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
      • CAP (Christians Against Poverty) Review
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      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
      • Average NZ Salary by Age
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      • Free Money from the Government
      • Bankruptcy Guide
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      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
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    • Wellington Trade Services
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