It is common to have questions when it comes to finance. We have compiled the answers to those we are asked the most. If your question is not included below, please fill out an enquiry form here.
If you have had a good experience with AA Money then we’d love for you to let us know. We also want to improve our service so if for some reason we didn’t meet your expectations please let us know so we can improve things in the future. As always, if you want to talk to someone, give our friendly customer services team a call on 0800 600 777 or send us an email.
Frequently Asked Questions
Who can apply for an AA Money loan?
You can apply for an AA Money loan if you are at least 18 years of age and earning over $30,000 per year (before tax).
You must also be an NZ Citizen or permanent resident and hold a valid form of New Zealand identification. We will request a valid restricted or full driver’s licence if the vehicle you are purchasing requires it. Submitting an application does not constitute a quotation or offer of finance by AA Money.
What are your interest rates?
AA Money’s standard annual interest rates start from 7.95%. The rate you are charged will depend on your personal circumstances taking into account a number of factors, including:
- your credit history
- how much you want to borrow
- the term of your loan
- your other financial commitments
Want to know what interest rate you are eligible for? We need to understand a little more about you and your circumstances so please fill out an application form here and we will get back to you. If you have any further questions regarding interest rates please contact us.
What are your fees and charges?
The fees and charges for AA Money loans are available here.
How long will it take for a lending decision to be made?
Once your application is received we will get back to you within one business hour. If you submit your application outside of our operating hours or on a public holiday we will get back to you as early as possible on the next business day. We may request further information from you. When we have received this we will get back as soon as possible to give you a final decision.
What are the terms and conditions?
For a copy of our terms and conditions, please see AA Money Terms & Conditions.
These include but are not limited to the following:
- normal lending criteria will apply
- your vehicle will be required as security and it must be fully insured
- AA Money will agree a loan term from 12 months – 5 years
I have an existing loan, can I switch to AA Money?
Yes, as long as your application satisfies all of our normal lending criteria. Standard fees will apply.
What can I do if I suffer unforeseen hardship?
Please refer here for the full information regarding AA Money’s hardship process. If you have any questions or concerns, please call us on 0800 600 777.
What happens if I make a lump sum repayment on my loan? Can I take it back out again?
If you pay a lump sum towards your loan you will pay your loan off faster.
You will continue to make the same repayment amounts however the interest charges will reduce.
The faster you pay off your loan, the less interest you will pay.
You cannot reverse a lump sum payment.
If you are wanting to pay a lump sum off your loan, please contact us so that we can help.
What happens if I change my mind and don’t want to proceed with the loan?
You have 10 business days from receiving your finalised contract to notify us that you wish to cancel.
If you wish to cancel please contact us on [email protected] or call our friendly team at 0800 600 777.
Can I get a loan approved before I have found the car that I want? And how long does it last for?
Yes, you can get a pre-approval. This is a great way of knowing what you can afford and being cash buyer can help you negotiate a good deal on your new vehicle. The pre-approval period can be found here.
Do I need a deposit?
Depending on your circumstances we may be able to fund up to 100% of your planned purchase. Lending criteria and terms and conditions apply.
What happens if I miss a payment or can't make a payment on time?
When you sign your contract, you agree to make repayments in line with the payment schedule.
We appreciate that things may happen that affect your ability to make these payments as planned, however if you fail to make these payments on time or fail to pay you may incur additional costs and default interest. Our fees and charges are set out here. If you continue to miss payments we may report a default to a credit reporting agency which may impact your ability to borrow in the future. If the situation is not resolved, we may look to recover the vehicle held as security under the loan.
In the first instance we would like to help you work out a solution so please call us on 0800 600 777 or email us at [email protected]
What do I do if I think I am going to have difficulty making my ongoing payments?
If you think that you are going to have difficulty making your payments or are experiencing a change in circumstances that is affecting your ability to pay then please talk to us on 0800 600 777 or email us at [email protected]
What should I do if my contact details change?
It is important that your contact information is kept up to date so if your contact details change please let us know. Give us a call on 0800 600 777 or email us at [email protected]
What is the Clean Car Discount Rebate scheme?
The New Zealand government is offering rebates for new and used electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) registered in New Zealand for the first time from 1 July - 31 December 2021. Vehicles with a purchase price of $80,000 or more (including GST and on-road costs) and those with less than a 3-star safety rating (as published on the Rightcar website) will not be eligible for a rebate. Find out more information about the scheme, and how to apply here.
Which vehicles qualify for the clean car discount rebate scheme?
The AA has published a list of EVs and PHEVs which qualify for the scheme here.
How do I see if my purchase qualifies for the clean car discount rebate scheme?
By discounting your interest rate for an EV or PHEV loan, AA Money is in no way advising on your eligibility for the government’s Clean Car Discount rebate scheme. Find out more information about the scheme, and how to apply here.
For more information about which vehicles are eligible for the scheme here.
Can I use my rebate to make a down payment on my AA Money loan?
Yes, AA Money does not charge any additional fee if you decide to make a full or partial prepayment of your loan.
How do the recent consumer lending changes impact me? (CCCFA December 2021)
The government has made some changes to how money is lent to consumers in New Zealand to help protect you against unaffordable debt. The changes mean it may take you longer when you borrow because, lenders will need to take extra steps to make sure it’s not difficult for you to pay back a loan. Whether you’re borrowing from a new lender to buy a dishwasher, a return customer upgrading your car on finance, getting a home loan, or extending your credit card limit, these new requirements could affect you. For more information on the changes you can view a summary here.
What you will need to apply for a loan
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*Depending on the nature of your application and your unique circumstances, this list may not include all of the information we might require from you to make the final decision on your loan application. Normal lending criteria, terms, conditions, and fees apply.
What you will need to apply for a loan
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*Depending on the nature of your application and your unique circumstances, this list may not include all of the information we might require from you to make the final decision on your loan application. Normal lending criteria, terms, conditions, and fees apply. |
Got some feedback for us?
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If you have any concerns about this agreement, please let us know. You can contact us by email, phone or post: |
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0800 600 777 AA Money PO Box 5462 Victoria Street West Auckland 1142 |
| If you don’t think we’ve resolved your concerns after contacting us, you can seek help from and make a complaint to the Insurance & Financial Services Ombudsman. This scheme can help you resolve any disagreements you have with us. You can contact the Insurance & Financial Services Ombudsman by email, phone or post: |
0800 888 202 Insurance & Financial Services Ombudsman Scheme PO Box 10-845 Wellington 6143 |