Oxford Finance NZ: A Guide to Vehicle, Personal and Asset Loans

Oxford Finance is one of New Zealand’s longest-running non-bank lenders, best known for car and vehicle loans, personal lending and business asset finance, with a strong footprint inside car dealerships. This guide explains what Oxford is, what it lends for, how its rates and fees actually work, its strengths and trade-offs, and who it suits — so you can weigh it against a bank or another finance company. It is general information, not financial advice, and not a recommendation of Oxford or any lender.

What Oxford Finance is

Oxford Finance is a finance company rather than a registered bank — what New Zealanders call a non-bank lender. Non-bank lenders raise their own funding and set their own credit criteria, which usually means faster, more flexible decisions than a bank, but higher interest rates to reflect the extra risk they take on. Oxford has been lending to New Zealanders for more than 25 years and is a wholly owned subsidiary of Turners Automotive Group, the NZX-listed motoring group behind Turners Cars, which acquired Oxford in 2014. That automotive parentage is why Oxford works so closely with car dealerships. (This is the New Zealand lender — it is unrelated to Oxford University, the US-based Oxford Bank, or Oxford Properties.)

What Oxford lends for

Oxford is strongest in vehicle finance, but it lends across three broad areas. A quick note on terms first: a secured loan is backed by an asset the lender can repossess if you stop paying (which usually earns a lower rate), while an unsecured loan is not, so it typically costs more.

• Vehicle finance — new and used cars, utes, SUVs, vans, EVs, motorbikes, boats, caravans and motorhomes, from either dealers or private sellers, usually secured against the vehicle you are buying. Vehicle lending generally starts from around $2,000. For the wider picture, see our car finance guide, which compares bank and non-bank options.
• Personal finance — secured and unsecured personal loans (and property-secured loans) for the usual reasons: debt consolidation, home improvements, dental or medical bills, travel, appliances and family costs. Our personal loans guide explains how secured and unsecured lending differ, and our debt consolidation guide covers what to weigh before combining debts.
• Business finance — vehicle and asset finance for businesses, such as cars, vans and small trucks.

Rates and fees

Oxford does not publish one flat interest rate. Like most non-bank lenders, it prices each loan to your credit history, income, the asset and the term, so two borrowers can be quoted very different rates. Its calculators use an indicative fixed rate of 9.95% p.a. for well-qualified secured borrowers; unsecured and higher-risk lending sits above that. Because this is non-bank pricing, expect rates that are generally higher than a main bank’s — so compare the total cost of borrowing over the whole loan, not just the weekly repayment. Our guide to understanding loans explains how that total is built up.

Alongside interest, expect these typical fees:

• Establishment fee: $153 — a one-off charge at the start of the loan.
• Monthly account maintenance fee: $4.
• PPSR fee (secured loans only): about $8.05 to register your security on the Personal Property Securities Register (the national record of assets used as loan security), plus about $1.15 per search.
• Early repayment: an administration fee plus a variable amount to cover the lender’s cost of breaking its funding.
• Default fees: interest at your annual rate plus 5% on the overdue amount while a payment is in default, plus a dishonour fee if a payment bounces.

What lowers your rate: a clean credit history, stable income, a larger deposit, a newer vehicle and a shorter term. Older, high-kilometre vehicles and unsecured loans cost more. Rates and fees change over time, so confirm the current figures directly with Oxford at oxfordfinance.co.nz before you apply.

Eligibility and how to apply

To qualify you generally need to be 18 or over, a New Zealand citizen or resident, with valid ID (a NZ driver licence is quickest), a regular income, recent bank statements (often the last 90 days) and — for a secured loan — a suitable asset as security. Oxford must also check the loan is affordable for you. Those responsible-lending duties come from the Credit Contracts and Consumer Finance Act (CCCFA) and its Responsible Lending Code; from 1 July 2026 they are overseen by the Financial Markets Authority (FMA) rather than the Commerce Commission. You can read a plain-English summary of your rights at consumerprotection.govt.nz, and check any lender is registered on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.

The process itself is straightforward:

• Apply online or through a participating dealer during a vehicle purchase.
• Provide your documents — ID, proof of income, bank statements and asset details.
• Oxford runs a credit and affordability assessment.
• A decision often comes within one business day once Oxford has everything it needs.
• You review and sign the loan contract.
• Funds are released to the seller or into your account.

If your credit is impaired, Oxford may still lend where the security is strong and your income is stable — usually at a higher rate. Our bad credit loans guide covers the options.

The pros and cons

Oxford, like any non-bank lender, comes with clear strengths and real trade-offs. Weigh both against your own situation before you apply.

How Oxford compares

It is worth weighing Oxford against the alternatives. Among non-bank lenders, MTF Finance is the closest comparison for vehicle and personal loans, while UDC and Heartland are other specialist vehicle and asset lenders. The table below sketches where each fits.

Main banks usually beat non-bank lenders on headline rate for a strong-credit borrower — especially through a home-loan top-up if you own property — but they are slower and stricter. Oxford tends to win on speed, dealer integration and lifestyle-asset lending such as motorhomes, caravans and boats. Whatever you compare, look at the total cost of borrowing across a few options before you commit.

The bottom line

Oxford Finance is a well-established NZ non-bank lender with genuine strengths — deep automotive expertise through Turners Automotive Group, fast approvals, flexible structures, and a willingness to finance vehicles, recreational assets and the self-employed where banks may hesitate. The trade-off is cost: non-bank rates and fees run higher than a bank’s, and secured loans carry repossession risk. If you value speed, flexibility and a smooth dealer experience — especially for a vehicle or lifestyle asset — Oxford can be a sound choice; if your priority is the lowest possible rate and you would qualify at a bank, compare there first. Whatever you choose, only borrow what you can comfortably repay.

Disclaimer

This article is general information about Oxford Finance, not financial advice, and not a recommendation of Oxford or any lender. Interest rates, fees, products and eligibility are set by Oxford, are personalised to each borrower, and change over time — the figures here are indicative only, so confirm current details directly with Oxford Finance and compare the total cost of borrowing against other lenders before applying. Borrowing has risks: a secured loan can be repossessed if you fall behind. If borrowing feels overwhelming, free and confidential help is available from MoneyTalks on 0800 345 123 (moneytalks.co.nz).

Frequently asked questions

What does Oxford Finance do?

Oxford Finance is a New Zealand non-bank lender providing vehicle loans, secured and unsecured personal loans, and business asset finance. It specialises in lending for cars, motorhomes, motorcycles, caravans, boats and commercial vehicles, and works closely with dealerships for fast approvals.

Who owns Oxford Finance?

Oxford Finance is a wholly owned subsidiary of Turners Automotive Group, one of New Zealand’s largest listed vehicle and finance groups, which acquired it in 2014. That is why it integrates so closely with car dealerships. (It is the NZ lender, unrelated to Oxford University, the US-based Oxford Bank, or Oxford Properties.)

What interest rate and fees does Oxford Finance charge?

Oxford does not publish a single flat rate — pricing is personalised to your credit, income, the asset and the term. Its calculators use an indicative fixed rate of 9.95% p.a. for well-qualified secured borrowers, with unsecured lending higher. Typical fees include a $153 establishment fee and a $4 monthly account fee, plus PPSR costs on secured loans. Always confirm current figures with Oxford.

Can I get an Oxford Finance loan with bad credit?

Possibly. Oxford may approve lower-credit borrowers where the security is strong, income is stable and there is a reasonable explanation for past issues, though usually at a higher rate. You will still need to show you can afford the repayments under New Zealand’s responsible lending rules.

How long does approval take, and can I repay early?

A decision often comes within one business day once Oxford has all your information, and can be faster through a dealer. You can generally settle a loan early, though an administration fee and a break-funding cost may apply — check your specific contract before signing.