ASB Car Loan
ASB Bank offers fixed-rate car loans for new and used vehicles in NZ, starting at 12.95% p.a. for amounts between $2,000 and $50,000.
Last checked on June 11, 2026. We may earn a commission when you click through.
ASB's car loan is a straightforward option for those looking to finance a vehicle, but the interest rate may be high for some borrowers.
ASB Car Loan
Updated 1 month agoAPR Range
12.95%
Amount
NZ$2k–NZ$50k
Term
6–84 months
Type
car_finance
You'll be redirected to asb.co.nz
Our Verdict
ASB's car loan is a straightforward option for those looking to finance a vehicle, but the interest rate may be high for some borrowers.
Best For
Best suited for ASB account holders needing a quick loan for a new or used vehicle with flexible terms from 6 to 84 months.
Watch Out
The fixed rate of 12.95% p.a. may not be the best option for borrowers with excellent credit who could qualify for lower rates elsewhere.
Pros
- Quick approval process (1-3 business days)
- Fixed interest rate provides certainty in repayments
- Loan amounts up to $50,000 available
Cons
- High fixed rate of 12.95% p.a. may deter some borrowers
- Requires ASB account for eligibility
- Limited to NZ residents aged 18+
Full Review
ASB Bank provides a fixed interest rate of 12.95% p.a., which might seem steep when compared to other lenders offering rates below 10% for those with good credit. The loan amounts range from $2,000 to $50,000, making it suitable for a variety of vehicle purchases.
Approval times are relatively quick, typically within 1-3 business days, which is a plus for those needing immediate access to funds. However, applicants must be NZ residents aged 18 and over and hold an ASB account, which could limit access for some potential borrowers.
While ASB’s loan is convenient for existing customers, those seeking the best rates could consider alternatives like Westpac or ANZ, which may offer more competitive pricing for well-qualified individuals. It’s important for potential borrowers to assess their credit profile and explore multiple options before committing.
In terms of customer service, ASB generally receives positive feedback, but it's advisable to keep an eye on any potential hidden fees associated with the loan agreement. Always check the official site for the latest information and terms.
Who Is This For?
Ideal for ASB customers needing straightforward financing for a vehicle, particularly those who value quick access to funds.
What Borrowers Say
Customers appreciate the fast approval but express concerns over the interest rates compared to other lenders.
Summary
ASB Car Loan offers a decent financing option for vehicle purchases, but the fixed rate may not please all potential borrowers.
About This Loan
Requirements
- NZ resident
- Aged 18+
- ASB account holder
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