ico Corner of Hapi & Ruapehu Streets in Taupo​

FAQs

What finance institution(s) do you use?
We have formed great working relationships with well-respected financial institutions that include Volkswagen Finance, MARAC (part of Heartland Bank), Alphera Financial Services and UDC Finance (an ANZ subsidiary).  One of the many key benefits of financing your new car with Ebbetts Prestige Volkswagen is that we work with you, to place your car loan with the most suitable finance institution.  Our business manager will work on your behalf to get you the best rates and the best terms for your car loan and your lifestyle.
 
How long will it take for my loan application to be approved?
During business hours we’ll try and get your loan approved within the hour.  If you have made your application outside of business hours, we’ll let you know if your loan has been approved on the next working day (once we have all the information we need).

Can I get a loan approval before I’ve found the car that I want?
Yes,  Many of our customers like to know how much they can borrow before they select their new Volkswagen. You apply for the loan as normal and, if all is well, you’ll be pre-approved to select your car.
 
Can I change the amount of my loan after it is approved?
Yes, If you want to increase the amount, it simply needs to be approved by us (you won’t need to fill in another loan application).
 
What interest rates do you charge?
Our interest rates are competitive and vary depending on the amount borrowed, the loan term, and your credit history. To get an idea of our current rates email our Business Manager Alex Middlemiss alexm@ebbett.co.nz or pick up the phone 07 838 29 49.
 
How long is the loan term?
Our terms are flexible with a minimum of six months and a maximum of five years.  We work with you to ensure that your payments and your preferred schedule are compatible.
 
What is the minimum loan amount?
Generally our minimum loan amount is $5,000.  However in certain circumstances you may be able to apply for a smaller car loan.
 
How old to I need to be to apply for finance?
You need to be at least 18 years of age.
 
Do I require a driver’s licence to apply for finance?
Yes, the minimum driver’s licence we require is a restricted licence.
 
Can I apply for finance if I have no credit history?
You may not need to have any previous credit history to get a loan approved; however, you may be asked to provide a  guarantor.
 
If I have bad credit can I still apply for finance?
Yes, apply for a loan with us and we’ll recommend the most appropriate lender to make your application with.  The lender may ask for additional security and/or a guarantor.
 
What is the security for my loan?
The security will be the car you’ve purchased, although you may be asked for additional security and/or a guarantor.
 
Can I pay my loan off before the end of the term?
Yes, although you may be charged an early settlement fee.  The fees and interest charged differ between lenders and are set out clearly in the loan documentation.
 
Can I make additional payments or change my repayment amounts during the loan term?
Yes, although fees may apply. The fees and interest charged differ between lenders and are set out clearly in the loan documentation.
 
What is a guarantor?
A guarantor is someone who “guarantees” your loan or credit agreement i.e. if you cannot or will not repay the debt then the guarantor will do so.
 
Is there a loan establishment fee?
Yes, The loan establishment fee varies from lender to lender but in most cases is less than $500.
 
Do I need a deposit?
No, in many cases, you will not be required to have a deposit.  If you have a good credit history and are in stable full-time employment there is a good chance a deposit will not be necessary.  If a deposit is required, this could be satisfied by either a cash deposit or a trade-in vehicle.
 
Where do I sign the finance documents?
Most of our customers find it easiest to sign the documents on site at Ebbett Volkswagen, however if you prefer our Business Manager will come and see you at a time and place that suits you.
 
How do I make loan payments?
You can make payment by direct debit, or by automatic payment.
 
Do you have to have a guarantor for a business lease/agreement?
In most cases, a private individual will be required to act as guarantor for a business that wants to lease a vehicle.
 
What is AML and how does it affect me?
The AML rules refers to the Anti Money Laundering and countering financing of Terrorism act (2009) which came into effect in June 2013.  AML requires all finance companies, bank and credit unions to collect more customer information than in the past when customers are applying for a car loan.  While our business manager will make the process as painless as possible, regardless of which lender we place your car loan with Ebbett Volkswagen will be required to collect this information on behalf of the lender.  Refer our article “The AML rules and how they will affect your application for a car loan for a full explanation for the information  you may need to provide.

Operating leases are exempt from the AML rules.
 
What is the difference between an operating lease and finance lease?
An operating lease can best be described as a long-term rental arrangement based on a term and specified kilometer allowance.  A finance lease, on the other hand, is a way of acquiring the use of an asset without owning it immediately.  Both a finance lease and an operating lease can look similar during the course of the lease (regular monthly payments and the option to include maintenance as part of the lease).  The key difference is at the end of the lease when, with an operating lease you simply hand back the keys, but with a finance lease you may be able to purchase the asset.

For a business, an operating lease is accounted for as an expense but a finance lease is accounted for as an asset.
 
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Ebbett Map

Come See Us for a Test Drive

Address Corner of Paora Hapi & Ruapehu Streets
Taupo
New Zealand

Phone +64 7 378 4130
Opening Hours
Monday 8:00 - 5:30
Tuesday 8:00 - 5:30
Wednesday 8:00 - 5:30
Thursday 8:00 - 5:30
Friday 8:00 - 5:30
Saturday 9:00 - 3:00
Sunday Closed
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About Ebbett

Choose your new vehicle with confidence knowing that Ebbett has been a trusted name in the automobile business since 1928. With seven dealerships throughout the North Island, representing eleven of the finest automobile marques in the world, the Ebbett Group offers you a large selection of new cars, used cars and light commercials, with delivery able to be arranged nationwide.

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“We are so happy with the car and the service that we received"

Barbara and Peter Willy
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