better finance

better finance™: personal and vehicle loans in New Zealand

better finance™ is a financial advisory firm based in New Zealand operating under the licence of One Partner Ltd (FSP403346). Its activity focuses on brokering and advising on personal and vehicle loans, with an emphasis on a simple process and personalised service. The company presents itself as a team of more than 20 financial advisers available seven days a week.

Financing products

better finance™'s range covers a wide variety of loans, organised into two main areas: personal loans and vehicle loans.

• Personal loans: debt consolidation, home renovations, travel, weddings, education, and loans for people with bad credit.
• Vehicle loans: cars, motorbikes, caravans, boats and jet skis, electric vehicles, hybrids, car repairs, and car loan refinancing.

The company also offers online calculators to estimate repayments for personal loans, debt consolidation, cars, motorbikes, boats, campervans, and renovations.

Application process and terms

The application process consists of three steps: an online form that, according to the company, takes minutes to complete; a phone call from an adviser to discuss the applicant's needs; and, once the loan is approved and the agreements are signed online, the transfer of funds, which usually takes place within 24 hours, sometimes the same day.

Fixed interest rates for vehicle loans range from 7.95% to 29.95% per annum, with terms from 12 to 84 months. For personal loans, rates range from 9.95% to 29.95% per annum, also with terms from 12 to 84 months. The final rate depends on the applicant's circumstances, the type of financing, and the security provided. Fees apply, such as an establishment fee of up to $375 and a brokerage fee of up to $995, plus possible PPSR registration charges (between $0 and $14). Approval is subject to meeting lending criteria and an affordability assessment.

Team and structure

The company has a team of more than 20 financial advisers, as well as management and marketing staff. Management roles include the founder and CEO, Samuel Cavanagh, and the operations manager, Daniel Johnston. The structure includes regional managers for the North Island, the South Island, and southern New Zealand, as well as financial advisers and support staff.

Presence and contact

better finance™ has two offices in New Zealand: one in Auckland, at Ground level, Building 2, 666 Great South Road, Ellerslie; and another in Christchurch, at 14/987 Ferry Road, Ferrymead. The company operates under a Class 2 Financial Advice Provider licence granted by the Financial Markets Authority of New Zealand.

Branches and locations

Auckland Branch: Ground level, Building 2, 666 Great South Road, Ellerslie, Auckland 1051

Christchurch Branch: 14/987 Ferry Road, Ferrymead, Christchurch, 8023