MTF Finance is one of New Zealand’s most established non-bank lenders, having operated for more than 50 years. It’s known for personalised service through locally owned franchises and a flexible approach to vehicle, personal and business finance. This guide explains what MTF offers, how its rates and fees work, its pros and cons, and who it suits — so you can decide whether it’s right for you, or whether a bank might serve you better. It’s general information, not financial advice, and not a recommendation of MTF or any lender.
What MTF is and what it offers
The trade-offs
Strengths
- Personalised, local franchise service
- Fast approvals — often same-day on secured loans
- Both secured and unsecured options
- Wide range: vehicle, personal and business finance
- More flexible for self-employed or non-standard income
- Can finance private-sale vehicles, not just dealer purchases
Drawbacks
- Higher interest rates than major banks, especially unsecured
- Establishment, admin and other fees add to the cost
- Much of the process is branch-driven, not fully digital
- Secured loans risk repossession of your asset if you fall behind
MTF suits borrowers who value speed, flexibility and local service — especially the self-employed or those banks decline. If you have strong credit and stable income and want the lowest possible rate, a bank may be cheaper.
Vehicle finance is the core of the business — MTF works with car dealerships across the country, so you can often arrange finance directly at the dealership, and it will also finance vehicles bought from private sellers or auctions, not just registered dealers. For a broader view of financing a vehicle, see our car finance guide; for personal borrowing generally, our personal loans guide compares secured and unsecured options; and for SME borrowing, our business finance guide covers how non-bank and bank lenders compare.
Rates and fees
Understanding the true cost of borrowing matters before you apply anywhere.
Reference sources
- MTF Finance — official products, rates and fees: mtf.co.nz
- Consumer Protection — the CCCFA and responsible lending: consumerprotection.govt.nz
- Financial Service Providers Register — check a lender is registered: fsp-register.companiesoffice.govt.nz
- MoneyTalks — free financial mentoring (0800 345 123): moneytalks.co.nz
The pros and cons
MTF, like any non-bank lender, has clear strengths and real trade-offs.
What Oxford Finance is
A NZ non-bank lender, part of Turners Automotive Group
Oxford Finance is a New Zealand lender operating under Turners Automotive Group, one of the country’s largest automotive networks — which is why it integrates closely with car dealerships for fast vehicle finance.
What it lends for
Vehicle loans (cars, utes, SUVs, vans, motorbikes), marine and motorhome/caravan finance, secured and unsecured personal loans, and business asset and equipment finance.
How it works
Loans are typically fixed-rate and often secured against the vehicle you’re buying (which lowers the rate). Many customers apply directly at a dealership during a purchase, and it’s a registered lender bound by NZ’s Responsible Lending Code.
Oxford’s automotive roots make it especially strong for vehicle and lifestyle-asset finance — few lenders support motorhome, caravan and marine loans as readily.
Eligibility and applying
To qualify, you generally need to be 18 or over, a NZ citizen, resident or eligible visa holder (with the loan term not exceeding a work visa’s duration), with proof of income, recent bank statements, ID, and the ability to afford repayments under the Responsible Lending Code. For secured loans you’ll also need a suitable asset as collateral. The process is straightforward: apply online or in-branch, provide your documents (a NZ driver licence is the quickest ID, and 90 days of bank statements verify income), a local lender runs a responsible-lending assessment — often with a same-day decision on secured loans — and once approved you sign a contract with clear terms and choose weekly, fortnightly or monthly repayments. MTF loans are typically fixed-rate, so your repayment stays the same for the term.
Responsible lending and hardship
As a registered lender, MTF must follow the Responsible Lending Code — it can’t approve a loan it has reason to believe you can’t afford. If your circumstances change through illness, injury or redundancy, it has a hardship process, with options that may include extending the loan term to lower repayments, a temporary payment pause, or (if you took it out) using a Payment Waiver. Contact your lender early if you’re struggling — and for free, confidential budgeting help, MoneyTalks (0800 345 123) is a good first port of call.
How MTF compares
It’s worth weighing MTF against the alternatives. Other specialist and non-bank lenders — UDC Finance and Heartland Bank (both strong on vehicle and asset finance) and Harmoney (online, unsecured personal loans) — are natural points of comparison, as is Finance Now in the fast-finance space. Wholesale finance brokers can sometimes negotiate rates below MTF’s starting point, though without the same face-to-face service. And major banks (ANZ, ASB, BNZ, Westpac) usually offer lower rates for strong-credit borrowers — especially via a mortgage top-up if you own a home — but with slower approvals and stricter criteria. The right choice depends on your priorities: MTF tends to win on speed, flexibility and local service; a bank tends to win on headline rate. As always, compare the total cost of borrowing across a few options before committing.
The bottom line
MTF Finance is a respected, long-standing NZ non-bank lender with genuine strengths — local service, fast assessments, flexibility, and a willingness to lend where banks may decline, which makes it a real option for the self-employed, contractors and those with less-than-perfect credit. The trade-off is cost: non-bank rates and fees are higher than a bank’s, and secured loans carry repossession risk. If you value speed and flexibility and understand the cost, it can be a sound choice; if your priority is the lowest possible rate and you’d qualify at a bank, compare there first. Whatever you choose, only borrow what you can comfortably repay.
Disclaimer: This article is general information about MTF Finance, not financial advice, and not a recommendation of MTF or any lender. Interest rates, fees, products and eligibility are set by MTF, are personalised, and change over time — the figures here are indicative only, so confirm current details directly with MTF (mtf.co.nz) and compare the total cost of borrowing against other lenders before applying. If borrowing feels overwhelming, free, confidential help is available from MoneyTalks on 0800 345 123 (moneytalks.co.nz).
The trade-offs
Strengths
- Strong vehicle-finance expertise and dealer network
- Fast approvals — often within 24 hours
- Flexible repayments (weekly, fortnightly or monthly)
- Good for motorhome, caravan and marine finance
- More flexible criteria, including for the self-employed
- Finances private-sale as well as dealer vehicles
Drawbacks
- Interest rates typically higher than major banks
- Establishment and admin fees add to the cost
- Secured loans risk repossession if you fall behind
- Less suited to large, long-term borrowing
Oxford suits buyers of vehicles or recreational assets who want fast, flexible, NZ-based lending — especially the self-employed. If you have strong credit and want the lowest rate, or need an unsecured low-rate loan, a bank may be cheaper.
Frequently asked questions
What is MTF Finance?
MTF stands for Motor Trade Finance, a New Zealand non-bank lender founded in 1970 by car dealers. It provides vehicle loans, secured and unsecured personal loans, and business and asset finance through a network of locally owned franchises across the country.
What interest rates does MTF charge?
MTF uses risk-based pricing, so your rate depends on your credit, income, the asset and the loan term. Indicatively, secured (vehicle/asset) loans start around 9.90% and unsecured personal loans around 13.25%, with higher rates for higher-risk borrowers. These are non-bank rates — generally higher than a major bank — so always confirm current figures.
What fees does MTF charge?
Typically a one-off establishment fee (up to around $380), a small monthly admin fee (around $7.50), a PPSR fee on secured loans (around $10.35), a possible agent fee if you’re referred, and early-repayment, late-payment or repossession fees where they apply. Fees are usually added to the loan, so factor them into the total cost.
Is MTF a good option compared to a bank?
It depends on your situation. MTF tends to win on speed, flexibility and local, face-to-face service — and it’s more willing to lend to the self-employed or those with minor credit issues. A bank usually offers a lower rate for strong-credit borrowers. Compare the total cost of borrowing across both before deciding.
Can I get an MTF loan if I’m self-employed or have imperfect credit?
Often, yes — MTF’s local franchise model allows more flexible, human credit assessments than a bank’s automated scoring, which can suit non-standard income or minor credit hiccups. You’ll still need to demonstrate you can afford the repayments under the Responsible Lending Code, and impaired credit generally means a higher rate.
What happens if I can’t make a repayment?
Contact your local MTF branch as soon as possible. As a responsible lender, MTF has a hardship process that may allow extending the term to reduce repayments, a temporary payment pause, or use of a Payment Waiver if you took one out. Acting early gives you the most options — and free help is available from MoneyTalks.
