Ways you can pay for a vehicle.

Whether you’re looking to replace your old runabout or trade up into a smarter model, buying a new car is a big purchase that requires some thought. One key consideration is how you might pay for it and the ins and outs of your options. To help you get you started, here are two common methods of paying for a new car:

  • Saving up the funds. This is a very cost-effective option as you're using your money! There are no fees or interest to pay. However, it takes time to save, so if this is your preferred way of paying for a car, you’ll need to allow some time to save
  • Borrowing the funds using a car loan. If you don't have enough money saved up and need a car quickly, a personal loan for a car  could give you access to the funds you need, if approved.  An establishment fee is charged at the start of the loan and you will pay interest until the loan is paid off. There are no fees for additional or lump sum repayments, so if you can pay off the balance faster you could save on interest.

If you’re considering a personal loan for a car, it’s important to take the time and research what’s right for you. Find out more about personal loans for cars.


We can help.

Savings accounts

If you’re ready to start saving up for a car, you could consider one of our savings account options.
Savings options

Personal loan calculator

Considering a personal loan to pay for all or part of your new vehicle? Understand how much you could afford to borrow and how long it would take to pay off.


Car insurance

Getting a Westpac car insurance quote (and buying insurance) is quick and easy. You can do this yourself online or call us on 0800 177 277.

Get a quote online

Things you should know.

Terms, conditions, fees and charges apply to Westpac products and services. Eligibility criteria and lending criteria, terms and conditions apply. An establishment fee of $0 may apply.

You’ll need to be 18 or older and a New Zealand citizen or permanent resident. If you’re not a New Zealand citizen or permanent resident but you’re working in New Zealand, or you don’t meet the other criteria, we still may be able to help.