Can I get finance if I am self-employed in NZ?
Yes. Being self-employed is normal in New Zealand and most lenders are set up for it. If you have a full set of financials it is straightforward. If you do not, several lenders will assess on bank statements, GST returns or contract income instead, which is common for owner-drivers and newer businesses.
The detail
The difficulty for self-employed applicants is rarely the income itself, it is proving it in the form a particular lender wants to see. A salaried applicant hands over two payslips. A contractor two years into a good business may have to assemble the same picture from several places.
That is where the lender you approach matters more than anything else. Some want two years of filed financials and will not move without them. Others will look at six months of bank statements, GST returns, or the contract you are working under. Same applicant, same income, very different answers.
If you are recently self-employed, say so early. It changes which lenders are worth approaching, and it is much better dealt with at the start than discovered halfway through an application.
Related questions
What if my business is less than a year old?
It narrows the options but does not rule you out, particularly if you worked in the same trade beforehand or have contracted work in place. Some lenders weigh industry experience alongside time in business.
Do I need to provide financials?
Not always. Where full financials are not available, bank statements, GST returns and contract documentation are often accepted. Which of those works depends on the lender, which is the part we handle.
Is it harder to finance a vehicle used for both work and personal use?
No, but it can change how the finance is structured and how it is treated for tax. That is worth raising with your accountant, because the better structure is not always the obvious one.
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