Don’t Let Bad Credit Stop You From Getting a Car Loan in New Zealand


New Zealand has a deep history and great affiliation with the motor industry. This love affair began with those growing up in rural New Zealand learning to drive at an early age, and continues with the tradition of summer road trips with families and friends. In New Zealand owning a car comes with a large set of advantages. A car gives you the freedom to travel longer distances comfortably with improved privacy, particularly because of the distances between cities and the fairly limited public transport options.

Although there are several car manufacturers and models which offer their own unique features, cars do not come cheap. You might be required to purchase a car for your personal travel needs in Porirua, Kapiti or Wellington, but if you do not have enough money, you would have to approach a bank for a loan. A bad credit rating would then be one of your biggest obstacles in getting a car loan approved.

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How the Non-Bank Lending Process Works in New Zealand

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In New Zealand any institution can offer banking processes like investment services, money transfer services and even loan and credit facilities for borrowers and investors. However, it may only use the word “bank” in its name when it is registered with the Reserve Bank of New Zealand. As a result there are around 400 companies in the country which offer a wide range of financial services to customers. These institutions are called non-bank financial institutions.

Non-bank financial institutions in New Zealand have strongly expanded over the past few years and they account for more than half of the consumer credit in the country. These institutions account for around 10 percent of domestically sourced credit provisions, over 15 percent of total commercial property lending and a significant share of development lending. The most popular non-bank financing loans in New Zealand are often used for vehicle purchases.

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How to Calculate Car Finance


Some non-bank financial institutions that offer car loans in Porirua have a minimum or a maximum amount that they can lend, regardless of your financial capability. Apart from the amount you can borrow, you will also notice many differences in interest rates, payment terms and options as you approach different companies. Before you finalise your car loan, you would need to carefully calculate the amount that you can borrow from a company without sacrificing basic expenditures.

The amount you can borrow from a non-bank financial institution in Porirua that offers car finance, depends on a large set of factors. Individual financial circumstances, how much security deposit you are able to provide, the age and value of the vehicle that you want to purchase, your age, your level of income and other such relevant risk factors would need to be considered to find out the limit of your loan amount.

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How to Increase the Profitability of Your Business


There are basically four main areas that drive the profitability of a business. These are:

  • Cost reduction
  • Increase in turnover
  • Increase in productivity
  • Increase in efficiency

A business can also plan to venture into newer, lucrative markets or come up with new and innovative products or services.

Cost Management to Drive Business Profitability

Your profitability is affected by how you manage your costs. Almost all businesses can identify areas where they can reduce costs in their operations but it’s vital to avoid cutting costs by compromising on the product or service quality. All businesses must assess their main cost areas. These include suppliers, finance, production, premises etc.

For instance, check if you are getting a good deal from your main suppliers. You might be in a position to.

The Pros and Cons of Expanding Your Business


Before deciding to expand your business, it is important to do an adequate amount of research and planning. In case your business grows too quickly and you don’t have the resources to cope with the growth. If this happens it is possible to experience various problems related to finance, staffing, suppliers and legal matters. A successful business expansion plan will consider how sustainable and manageable it is in the long term for you growing your business.

Below are some key things to consider when you are thinking of expanding your business:

Increased efficiency and cost reduction

When you manufacture a greater quantity of products, the cost factor automatically comes down. This is related to the concept of assembly line. When processes are automated and create increased efficiency, it generally causes a reduction in both time and cost of production….

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Or visit the Oxford Finance website.