Frequently Asked Questions 
Got some questions about a Dorchester Loan?
Hopefully you’ll find the answer here!
How do I apply for a loan with Dorchester Loans?
Applying for a loan is simple. You can apply online by clicking here or call us toll-free on 0800 733 008 and we can get your application underway immediately. We’ll need to know some basic information like your income, expenses and credit history.
How long will it take for my loan application to be approved?
Within one working day once we have received all relevant information from you.
How is the interest rate calculated?
he interest rate you will be charged is based on:
- the type of security provided
- the value of the security in relation to the loan amount
- your previous credit history with other financial institutions
- your total credit profile
How long are the loan terms?
Our terms are flexible, ranging from 12 months to 5 years depending on the age and nature of the security you can provide us for the loan.
Is there a minimum loan amount?
Yes, $2000 is our minimum loan amount.
Can I pay my loan off before the end of the term?
Yes, although early settlement fees may apply.
How do I repay my loan?
Repayments need to be made by direct debit from your nominated bank account.
What is the security for my loan?
The security will usually be a motor vehicle, boat or a registered mortgage or an ‘agreement to mortgage’, supported by a caveat lodged over the title of your property if you own a house. In some cases we will accept a guarantee from another person.
What is the minimum age?
The minimum age is 23 years old (unless accompanied by a parent guarantor).
What is a guarantor?
Sometimes, there will be a need for a loan to be guaranteed by a parent (or parent-in-law). The guarantor needs to be aware that, in the case of a default on the loan, they can be called upon to repay the amount outstanding.
Do you finance vehicles or boats bought privately?
Yes.
Can I get approval for a loan before I’ve found the vehicle or boat I want?
No problem, approval in principle can be given as long as the vehicle or boat that you do find fits the criteria for the loan.
How long will my pre-approval last?
A pre-approval remains current for 30 days.
Does my vehicle have to be insured?
Yes. It needs to be insured against theft and accident damage, and Dorchester Finance Limited needs to be noted on the policy. We can help you to arrange the insurance.
Vehicles with mileage over 130,000km are also required to have a mechanical warranty.
If we haven’t answered your question here, please just call us on 0800 733 008 or e-mail us here and we’ll get back to you as soon as we can.
Dorchester Finance Limited's terms and conditions and lending criteria apply.
Apply On-Line Now It will only take you around 3 minutes to complete if you’ve got the following handy:
- a New Zealand Driver’s License
- your total household income and expenses
How much am I likely to have to pay?
Click here for our Easy Loan Repayment Calculator for an idea of how much your repayments are likely to be (subject to lending criteria and approvals).