Finance

Forward-thinking Volkswagen finance

The team at Ebbett Volkswagen Taupo are here to help get you into the car of your dreams by providing you with competitive financing options, that can be tailored to your financial situation. Just give us a few details and we can have you approved in as little as 1 business hour, or if you request a quote after hours, we’ll be back to you the next working day.

Volkswagen Finance

If you’re looking to upgrade your current car or you need to upgrade to accommodate the whole family, a credit agreement is the type of finance that’s likely to best suit you.

You’ll have a regular payment structure spread over a fixed term of your choosing. This allows flexibility while still giving you the ability to budget accordingly as you’ll always know when the next payment is, and how much it will be.

  • Pick your own term between 12 and 60 months
  • No deposit may be a reality
  • Easy budgeting with fixed, regular payments
  • Own your vehicle outright when the payments are done

Further Information:

Visit European Finance ›

Marac Finance

At MARAC we know that to achieve your financial goals, you need a partner to share your vision. We take the time to understand how you see things and what you want for the future. Then we work with you to help make it happen.

Service is central to the way we do business. We offer genuine personal service and tailored packages. We believe that the best people in finance work for MARAC. They have knowledge, experience and a passion for what they do. Our team culture is based on a strong set of values, including integrity, trust, professionalism, communication, responsibility and a total commitment to quality.

MARAC is part of Heartland Bank Limited (Heartland Bank). Finance and lending services are provided by MARAC, a division of Heartland Bank Limited.

UDC Finance

For 80 years, we’ve helped New Zealanders to see their ideas become reality and investors to earn the rewards they deserve. We take great pride in lending the funds needed for vehicles, plant, equipment and machinery. As a result we have created sound returns for our investment customers.

UDC interest rates vary from 9.50% p.a. to 14.50% p.a., and the actual rate charged will depend on many factors including the amount of lending, the term of the loan, size of deposit, customer credit history and risk profile.

Business Lease

Acquire assets for your business while keeping cash reserves free

Keep your cash reserves for other uses while still getting the vehicle(s) your business needs by financing up to 100% of the cost of the vehicle over a specified term. The advantage of a Business Lease is that it enables you to structure the contract by selecting a term on which you agree to a suitable residual value with us. This allows you to tailor your monthly rentals to suit your budget. Residual value risk is carried by you.

  • Flexible initial outlay that keeps your cash reserves free for other ventures
  • Choose the term you want between 12 and 60 months
  • Potential tax benefits whilst improving cash flow
  • Provides a fixed annual interest rate for the term of the contract

Operating Lease

Perfect for those who want regular upgrades

Never worry about getting rid of your old car again. Operating leases are essentially rental terms with low initial outlay and flexible terms that get you in the car you want for as long as you want it. You can also choose optional servicing, maintenance and repair packages to simplify the entire process of maintaining a vehicle.

  • Low initial outlay with 12 to 45 month terms
  • Optional maintenance packages lump all your running costs (excluding fuel) into one monthly payment
  • You can change the agreed mileage and term if circumstances change
  • No need to worry about future value or selling a vehicle, simply return and get your next vehicle.

Autosure Mechanical Breakdown Insurance

The last thing you should be worrying about when purchasing a new vehicle is a mechanical breakdown. Modern cars have come a long way, but with complex electrical and mechanical components breakdowns do occur.

Protect your car and your pocket with a Mechanical Breakdown Policy. It not only covers your repair bills but will also help you out with 24/7 roadside assistance, car hire to keep you mobile and any towing costs.

Autosure Loan Equity Insurance (“GAP” Cover)

In the event of a total loss of a vehicle that still under finance, you’re liable to pay the outstanding credit balance immediately. If the insurance payout doesn’t cover all of this, you would have to fork out for the difference yourself.

Having loan equity insurance prevents the loss of a vehicle hitting your pocket. It ensures that if your vehicle is written off you won’t have to pay any difference between the insurance payout and the balance owing on your credit contract.

Autosure Payment Protection Insurance

The main risk when buying a vehicle on finance is that if you lose your ability to earn, you won’t be able to cover your monthly installments, which means you’ll risk losing your vehicle and credit rating.

Payment protection insurance protects you from a range of unexpected losses of income so that should the unexpected happen, you’ll be covered and able to pay any finance requirements while you get back on track.

Volkswagen Motor Vehicle Cover

Volkswagen has a reputation for thinking differently — and our insurance is a little bit different too. Naturally, we’ve designed our cover with Volkswagen drivers in mind. But it’s the generous range of special features and added extras that really make us stand out from the crowd. Here are just a few;

  • New for old – if your Volkswagen is less than 3 years old and is written off, you’ll get a brand new one
  • All repairs are conducted using only genuine Volkswagen parts
  • Choose from a list of repairers that have earned our seal of approval
  • No claims bonus that’s protected for life
  • Cover of additional costs and no window excess

Please note:
The payments calculated by the Finance Calculator are based on an assumed fixed annual interest rate of 9.95% and include an Establishment Fee of $275.00 and $8.00 PPSR Fee. Please note this calculator is designed to provide estimates only.  The actual interest rate that will apply in any finance offer may vary than that determined by this calculator. The Finance Calculator does not include on road costs. The payments calculated are not a quote and do not represent an offer of finance for a specific amount financed, term, or interest rate. Finance is subject to normal lending criteria. For actual available rates, fees and confirmed figures or for any other assistance, please contact our office.

FAQ

What finance institution(s) do you use?

We have great working relationships with well known finance institutions including Volkswagen Finance, MARAC (part of Heartland Bank), Alphera Financial Services and UDC Finance (an ANZ subsidiary).  One of the key benefits of financing your new car with Ebbett Volkswagen is that we work for you to place your car loan with the most suitable finance institution.  Our business manager will work on your behalf to get you the best rates and the best terms for your car loan.

How long will it take for my loan application to be approved?

During business hours we’ll try and get your loan approved within the hour. If you have made your application outside of business hours, we’ll let you know if your loan has been approved on the next working day (once we have all the information we need).

Can I get a loan approval before I’ve found the car that I want?

Yes – plenty of our customers like to know how much they can borrow before they choose their new car. You apply for the loan as normal and, if approved, you’ll have pre-approval to select your new car.

Can I change the amount of my loan after it is approved?

Yes. If you want to increase the amount, it simply needs to be approved by us (you won’t need to fill in another loan application).

What interest rates do you charge?

Our interest rates are competitive and vary depending on the amount borrowed, the loan term, and your credit history. To get an idea of our current rates contact our Business Manager or call 07 378 4130.

How long is the loan term?

Our terms are flexible with a minimum of six months and a maximum of five years.  We work with you to structure your payments to suit your preferred repayment schedule.

What is the minimum loan amount?

Generally our minimum loan amount is $5,000.  However in certain circumstances you may be able to apply for a smaller car loan.

How old to I need to be to apply for finance?

You need to be at least 18 years of age.

Do I require a driver’s licence to apply for finance?

Yes, the minimum driver’s licence we require is a restricted licence.

Can I apply for finance if I have no credit history?

You may not need to have any previous credit history to get a loan approved; however, you may be asked to provide a suitable guarantor for your loan.

If I have bad credit can I still apply for finance?

Yes, apply for a loan with us and we’ll recommend the most appropriate lender to make your application with.  The lender may ask for additional security and/or a guarantor.

What is the security for my loan?

The security will be the car you’ve purchased, although you may be asked for additional security and/or a guarantor.

Can I pay my loan off before the end of the term?

Yes, although you may be charged an early settlement fee.  The fees and interest charged differ between lenders and are set out clearly in the loan documentation.

Can I make additional payments or change my repayment amounts during the loan term?

Yes, although fees may apply. The fees and interest charged differ between lenders and are set out clearly in the loan documentation.

What is a guarantor?

A guarantor is someone who “guarantees” your loan or credit contract i.e. if you can’t or won’t repay the debt then the guarantor will do so.

Is there a loan establishment fee?

Yes. The loan establishment fee varies from lender to lender but in most cases is less than $500.

Do I need a deposit?

No.  In many cases you will not be required to have a deposit.  If you have a good credit history and are in stable full time employment there is a good chance a deposit will not be required.  If a deposit is required, this could be satisfied either by a cash deposit or a trade-in vehicle.

Where do I sign the finance documents?

Most of our customers find it easiest to sign the documents on site at Ebbett Volkswagen, however if you prefer our Business Manager will come and see you at a time and place that suits you.

How do I make loan payments?

You can make payment by direct debit, or by automatic payment.

Do you have to have a guarantor for a business lease/agreement?

In most cases a private individual will be required to go guarantor for a business who is leasing a car.

What is AML and how does it affect me?

The AML rules refers to the Anti Money Laundering and countering financing of Terrorism act (2009) which came into effect in June 2013.  AML requires all finance companies, bank and credit unions to collect more customer information than in the past when customers are applying for a car loan.  While our business manager will make the process as painless as possible, regardless of which lender we place your car loan with Ebbett Volkswagen will be required to collect this information on behalf of the lender. Operating leases are exempt from the AML rules.

AML Rules

What is the AML?

The Anti Money Laundering and countering financing of Terrorism act (2009) “AML” came into effect in June 2013.

As a result of the changes, all finance companies, banks and credit unions are now required to collect more customer information. Regardless of which lender we place your car loan with Ebbett Volkswagen will be required to collect this information on behalf of the lender.

If you are applying for a car loan to finance your new car, you may be affected by AML. Operating leases are exempt from AML rules.

The nature of the information we are required to gather and how it is verified and confirmed varies between entities.

Limited liability company requirements

Persons required to provide information

All authorised Directors and personnel and all Shareholders with greater than a 25% shareholding.

Original or certified copies of:

  • One form of primary photo ID (refer list A for acceptable forms of ID); or two forms of non-photo ID , one from list B and a further from either list B or C
  • Date of birth

Must also confirm:

  • Country of domicile
  • Citizenship; and
  • Proof of address (i.e. utility bill, bank statement)

Trust requirements

Persons required to provide information

All Trustees and settlors (note also that any trustees that are companies will need to provide details as per the Limited liability companies section above).

Original or certified copies of:

  • One form of primary photo ID (refer list A for acceptable forms of ID); or two forms of non-photo ID , one from list B and a further from either list B or C.
  • Date of birth

Must also confirm:

  • Copy of trust deed
  • Full name and date of birth of all trust beneficiaries if 10 or less.
  • Proof of address (i.e. utility bill, bank statement)

Private individuals, sole traders and partnerships requirements

Persons required to provide information

All individuals, and for partnerships any partner with greater than 25% ownership.

Original or certified copies of:

  • One form of primary photo ID (refer list A for acceptable forms of ID); or two forms of non-photo ID , one from list B and a further from either list B or C.
  • Date of birth
  • Partnership agreement (where there is one)

Must also confirm:

  • Country of birth
  • Citizenship
  • Office address (if applicable for sole trader and partnerships)
  • Proof of address (i.e. utility bill, bank statement)

Certifying your information

Certifying your information in dealership

Any original ID or required document can we sighted, copied and certified by our Business Manager.

Acceptable referees for ID certification

Alternatively your original ID can be certified by a third party (away from the dealership) by a:

  • Justice of the peace
  • Registered teacher
  • Member of the NZ police
  • Registered medical doctor
  • Minister of religion
  • Lawyer
  • Member of parliament
  • Chartered accountant

The person who certifies your documents cannot be a relative, member of your extended family group, a spouse or partner or live at the same address. They must be in no position to benefit from the financial transaction. On the front of the certified copy of the ID you must have: Certifier’s Name, Occupation, Phone Number, Date of Certification and the following signed statement: “I certify that this is a true copy of the original ID sighted by me. If the original contained a photograph of the applicant then I have used that to verify their identity.”

Electronic ID check

Individuals can also opt for a Veda Identity Plus ID check by completing the Veda Section a consent form provided by our Business Manager.

Identification requirements

List A – Acceptable photographic identity documents:

  • A current New Zealand photographic driver licence which will be passed through external driver licence verification
  • Passport
  • NZ firearms licence

These must be current and contain the individual’s name, date of birth, photograph and signature.

List B – Acceptable non-photographic identity document:

  • NZ bank issued document e.g. credit card, EFTPOS card, etc.
  • NZ bank statement
  • NZ Government issued document e.g. Supergold card
  • A financial statement issued by NZ Government e.g. IRD statement
  • New Zealand full birth certificate
  • Certificate of New Zealand citizenship
  • Citizenship certificate issued by foreign government
  • NZ Community services card
  • National identity card issued by a foreign government
  • NZ temporary driver licence

These must be current or, in the case of financial statements, less than 12 months old.

List C – Acceptable secondary photographic identity document:

  • Overseas driver licence
  • 18+ Card
  • Valid and current international driver permit

These must be current and contain the individual’s name, date of birth, photograph and signature.

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