Vehicle finance questions, answered
Direct answers to the questions tradies, SME owners and fleet managers ask most about vehicle and asset finance in New Zealand. If your question is not here, speak with a specialist.
Approval and bad credit
What lenders look at and how a panel improves your chances.
Often, yes. A past default or a low credit score does not automatically rule you out. Because LDM Finance works across a panel rather than a single lender, an application that does not fit a mainstream bank can often be placed with a lender such as Avanti that assesses each case on its merits. What helps is a clear explanation of past issues, steady current income and an asset that holds its value. We prepare the application to present your position honestly and in the best light, then match it to the lender most likely to approve it. We will always tell you plainly if finance is not the right move right now.
It depends on your income or trading revenue, your existing commitments and the asset you are financing. As a guide, lenders want your total repayments to sit comfortably within your cashflow. For a business, that means the vehicle should earn more than it costs to finance and run. Rather than quote a blanket figure, we model your repayment against a realistic budget and confirm serviceability with the lender before you commit. Start with the calculator to see what a given amount costs each week.
For most applications you need photo identification, proof of income such as recent payslips or business bank statements and details of the vehicle. Businesses may also provide financial statements or GST returns for larger amounts. We tell you exactly what is needed for your specific application so you are not chasing paperwork. Having documents ready is the single biggest factor in a fast decision.
Lenders and the panel
How our multi-lender model works.
Our panel includes UDC Finance as a preferred partner, Heartland Bank through Marac, Avanti Finance and a broker network for more complex or higher-value lending. UDC is strong on commercial vehicles, trucks and machinery. Heartland covers business and consumer finance. Avanti assesses applicants who fall outside standard bank criteria. The broker network handles unusual cases. One application is assessed against the whole panel, so you are matched to a suitable lender rather than limited to one.
No. LDM Finance is not a lender. We are a finance specialist that structures your application and places it with a suitable lender on our panel. This means you complete one application and we do the work of matching it, rather than you approaching lenders one by one. The lender you are matched to holds the finance contract, sets the rate and makes the final approval decision under its own criteria.
Buying a used vehicle
Financing pre-owned stock with confidence.
Yes. Most vehicles on the LDM yard are quality used stock, and used vehicles are financed the same way as new. Lenders consider the age, condition and value of the vehicle, since it secures the loan. Older or higher-kilometre vehicles may have a shorter maximum term. Every LDM vehicle listing shows an indicative weekly finance figure, and the two next steps are always the same: calculate repayments or apply for finance.
No. While we hold real stock in Christchurch that we deliver nationwide, we can also finance a vehicle you have found elsewhere, subject to the lender’s checks on the asset. Talk to a specialist about the vehicle you have in mind and we will confirm what is possible.
Vehicle admin and delivery
What happens after approval.
Vehicles are typically delivered nationwide within one week of approval. LDM Finance is based in Christchurch and services the whole country, so distance is not a barrier. We confirm timing with you when the finance is approved and the vehicle is prepared for handover.
Once your application is approved, we confirm the finance structure, the lender and the repayment schedule with you. You review and sign the finance documents, and the vehicle is prepared for delivery. We arrange transport to your location, usually within a week. From there, your regular repayments begin on the agreed frequency, whether weekly, fortnightly or monthly.
Still have a question?
Speak with a vehicle finance specialist. No pressure, just a straight answer.
Speak with a specialistAnswers are general information, not financial advice. Figures are indicative only, at a representative rate of 12.95% per annum. Lending criteria, terms and conditions apply. Final disclaimer wording pending UDC sign-off.