Applying for finance

With finance from MTF you can be pre-approved, so you know how
much you have to play with.
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Who can apply for finance?

If you’re over 18 years, a New Zealand resident, hold a valid New Zealand driver licence and have regular income, you can apply for finance with MTF.

How much can I borrow?

You can borrow from $2,000 to $100,000, as long as you have sufficient security to support the loan and we're confident that you are able to manage the repayments.

What will MTF accept as security?

We accept any type of car, light truck, motorbike and farm bike, as long as you can prove you're the legal owner and that there's no other security registered against it. We need to establish the value of any asset you offer as security.

What else do I need to apply?

To consider your application, you must provide:

  • valid NZ driver licence
  • bank statement less than 30 days old, in your name, showing transactions for a calendar month
  • bank statement, utility bill, rates, NZ government documentation or insurance confirmation showing your name and physical address

If you apply in person, and bring these documents with you, we can usually give you an answer on the spot.

Can I use my MTF loan to pay off other debt?

You may be able to combine your current debt into a single loan with one contract, one interest rate and one regular repayment.

Before you consider this option, ask yourself:

  • are any of your existing loans nearly paid off?
  • is there an establishment fee on the new loan?
  • is the interest rate on the new loan higher than my current lowest rate?
  • will I stay in debt longer by switching?

If you answer 'yes' to any of these questions, you may end up paying more with a consolidated loan.

If you want more information, contact us and we'll help you check it out.

Loan approval

If you apply in person and bring proof of identity, address and income with you, we can usually give you an answer on the spot.

How soon will I know if my loan is approved?

If you apply in person and bring proof of identity, address and income with you, we can usually give you an answer on the spot.

What happens when my loan is approved?

We'll talk through the loan document, make sure you understand your rights and obligations under the contract, and then ask you to sign it. If you have any concerns or queries regarding the obligations you are entering into, we recommend that you seek advice from your lawyer or accountant before signing the loan document.