What is your criteria?

Bee Finance provides funding from many different financial providers. We don’t have any strict criteria. We do have guidelines that are flexible. In the end it comes down to the borrower's profile and how much you want to borrow. Your profile is made up of many things such as: job stability, asset backing, credit history and bank account conduct to name just a few. Affordability is really the only thing that is non negotiable. If an applicant can’t afford to service the loan then they are very unlikely to get approved.

What is the minimum amount I can borrow?

General Motor Vehicle Finance/Loans start from $4500.

What is the maximum amount I can borrow?

We can finance vehicles up to $300,000 + GST.

How much can I borrow?

You can apply to borrow within your ability to afford the loan. That’s not to say that the financial providers will automatically approve your application as they may take other factors into consideration such as security and credit history.

What will the interest rate be?

Bee Finance can arrange funding through a large range of financical providers. Each provider has their own interest rate levels for each individual deal. What Bee Finance will deliver is the best deal with the best interest rate possible.

How much does it cost?

The lenders and insurers pay Bee Finance a fee or commission or brokerage fee for putting the funding together. Any fees that are charged by the finance providers are fully disclosed and agreed with you before the loan documents are signed by you. Bee Finance operates within the framework of the Credit Contracts and Consumer Finance Act (CCCFA) and all finance arranging that Bee Finance undertakes is compliant with this Act and follows guidelines under Responsible Lending Code advised by Ministry of Consumer Affairs.

Does it cost anything to apply?

No, unlike some other companies in the market, Bee Finance does not charge any fees or costs when an application is made.

How old do I have to be?

To borrow in New Zealand you have to be 18 years or older.

How long does it take?

Normally we can get an application approved within hours. In order to do this we need an application form completed, a clear copy of photo ID (Passport and/or Drivers License), confirmation of income (Payslip), two months latest bank statements (Bank Account Conduct) and information about the vehicle being purchased (CIN card, the Consumer Information Notice or VOSA, the Vehicle Offer and Sales Agreement). These can be emailed or faxed to us.

What can I use as security?

Typically it is a car, caravan, boat, property or other assets/chattels. The amount that can be lent to you is not solely dependent on the value of the security, but your affordability and your credit profile.

What if I have bad credit?

In most cases we can still get an application approved. Our lenders aren’t worried about minor defaults on your credit record. In many cases we need to provide an explanation as to why larger defaults occurred. If the default is unpaid then sometimes this can be an issue. Ex-bankrupt applications are also not major problems for us as we get these types of applications approved regularly.

Do I need to be working?

We do accept beneficiaries and also take Family Assistance, ACC, child support payments and student loans into account. You do still need to meet the affordability guidelines and we need to follow Resposible Lending Code as a Responsible Lender.

What do I do if I have a complaint?

If you are not satisfied with the service you have received from Bee Finance please contact us. We take any complaint or any form of customer dissatisfaction seriously and look at it as an opportunity to improve our business.

If you are not satisfied by our response, you may refer the matter to FSCL. We are a member of an independent dispute resolution scheme operated by Financial Services Complaints Limited (“FSCL”) and approved by the Ministry of Consumer Affairs. FSCL can be contacted by emailing info@fscl.ord.nz or calling FSCL on 0800 347 257. Full details of how to access the FSCL scheme can be obtained on their website www.fscl.org.nz. There is no cost to you to use the services of FSCL.

All our Registered Financial Advisors are strictly trained under Responsible Lending Code, a guideline set by Ministry of Consumer Affairs.