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Thread: Getting a car loan without a credit history

  1. #1
    Join Date
    Dec 2008

    Default Getting a car loan without a credit history

    I'm hoping to buy a newer car later this year if my PR comes through.

    I'm thinking of getting a 2005 or so Mazda, which would require doing one of those 25% down and $90/week for 4 years deals.

    Problem is I have no credit history in NZ. I'm 24 now and I moved here at 20.

    Since I've never had PR I haven't been able to get a credit card, nor ever wanted to for that matter.

    None of the utilities at my flat are in my name.

    Even back in the US I'd never had a credit card or any bills in my name, being only 20 when I left.

    I'm a teacher, I can prove I earn a regular salary to support payments, but will that be enough?

    I don't really want them checking my US credit history either because I'm having a dispute over method of payment with my student loan provider and now they have me listed as being late on payments for two months because they won't accept payment from a New Zealand bank account and I don't have a US account.

    What are my chances of getting a car?

  2. #2
    Join Date
    Apr 2008
    at the bottom of the top bit


    you'll be fine as nz have negative reporting.

  3. #3


    Credit reporting in NZ is completely different than in the U.S. In the U.S. no credit history is nearly the same as having a bad one.

    In NZ, no news is good news, because the only thing reported in credit reports are enquiries and defaults.

    Here you basically build your credit with individual banks, if you have an account with them and they can see a good history of regular income going into the account and you've been at the same job for a while then you should be fine.

    They won't be looking at your U.S. credit report, I don't think they're even set up for it as NZ has a completely different system.

    When I first moved here it took me a while to understand that the U.S. is only part of the world, other countries don't necessarily do things the same or even subscribe to the same systems as the U.S.

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