Hire purchase is typically referred to as financing your vehicle, meaning you get drive your car while paying it off. This can be particularly useful if don’t the have cash to buy the vehicle up front. This can be made even better if taking advantage of our low finance rate Mitsubishi offers.

When financing your vehicle there can be set-up and accounting fees to pay alongside your deposit (if you are putting one in). Your deposit may also just be the vehicle you currently have. Things like accessories, service plans and on-road costs will also need to be covered in your deposit.

Getting approval:
before we both sign on the dotted line we’ll need to ensure or look at the following:

• You can afford the agreed repayment schedule (weekly or monthly payments etc.) – We are responsible lenders
• The agreement meets both of our requirements
• Your personal/business credit history and whether your owe money to other lenders
• You are over the age of 18 and have a restricted or full NZ drivers licence, and have 2 forms of NZ id available

For a more in-depth look at hire purchase we recommend reading through this page from Consumer Protection NZ here.

Some terms you may need to know:

• Interest rate:
  A small percentage of the amount borrowed charged by the lender for the loan (average of 9.95%)
• Amount to borrow:
  The price of the car agreed upon by you and our sales team. Including any trade-ins and deposit.
• Loan Term:
  How long you will be paying off the loan, typically 36-60 months
• Balloon:
  A portion of the borrowed amount to be payed as a lump sum at the end of the loan term.

Consumer & Business Lease for GST registered businesses

The advantage of a Consumer or Business Lease is that it enables you to structure the contract by selecting a term and agreeing to a suitable residual value with us. This allows you to tailor your monthly payments to suit your budget. Residual value risk is carried by you.

Because the payments are fixed and known in advance, you have firm control over your vehicle budget.

After the lease period is over, the vehicle is returned to us. You then have the option to take out a new lease and upgrade your vehicle to the latest model.

• This flexible leasing plan for business users offers possible tax benefits while improving cash flow.
• Lease terms from 6 months to 5 years
• No annual fees
• Structure your lease by selecting a term and agreeing to a suitable residual value with us.
• Tailor your monthly rentals to suit your budget.
• Rentals are fixed and known in advance – you have firm control over your vehicle budget.
• Residual value risk is carried by you.

Option to Upgrade

After the lease period is over, the vehicle is returned to us. You then have the option to take out a new lease and upgrade your vehicle to the latest model.

We offer both Fully Maintained and Non-maintained Operating Lease options on new Volkswagen vehicles.

An Operating Lease can best be described as a long-term rental arrangement based on a fixed-term and kilometre allowance.

An operating Lease allows you to easily budget your vehicle expenses, and your monthly rentals are fixed over the term of the lease.

• Maintained & Non-maintained Operating Lease options
• Fixed-term & maximum kilometre allowance
• All servicing is conducted by professional trained technicians using genuine parts
• Option to treat off Balance Sheet (Business Operating Lease only)

Maintained Option

The Fully Maintained option makes forward planning a lot easier for you, as the monthly rentals include scheduled servicing, annual registrations and warrants of fitness, with options to include replacement tyres and puncture repairs.

Option to Upgrade

After the lease period is over, the vehicle is returned to us. You then have the option to take out a new lease and upgrade your vehicle to the latest model.