Go Car Finance

What Go Car Finance does

Go Car Finance (legal entity Go Car Funding Limited) is a New Zealand-based direct lender that provided secured vehicle loans to non-conforming consumers excluded by traditional banks. Founded in 2006 and headquartered in Auckland, the company originated secured credit agreements with loan amounts of NZD 3,000 to NZD 100,000, terms up to three years, and interest rates of 12.70% to 28.50% per annum, plus a published schedule of Secured Credit Agreement fees. The core technology stack comprises a web-based client portal with multi-factor authentication (launched November 2023 to replace a prior mobile app), the Go Connect vehicle tracking and starter-interrupt device, and SMS-based account services (text HELP/ENBL to short code 3411). The company holds ISO 27001 certification for information security management and operates under New Zealand responsible-lending and Privacy Act 2020 frameworks.

Go Car Finance is a wholly-owned subsidiary of Solvar Limited (ASX: SVR), an ASX-listed diversified consumer finance group whose other brands include Money3 and Automotive Financial Services (AFS) in Australia. The entity employed 51–100 people and served a single horizontal customer segment — NZ non-conforming borrowers — through a direct sales motion combining a website with loan calculator, a phone-based customer care team (0800 462 277), and a self-serve web portal. Effective August 6, 2024, the company stopped accepting new loan applications and lending, and now operates a servicing-only model for its existing customers via the Customer Care team, with no new product launches, geographies, or partnerships disclosed.

Name

Go Car Finance

Legal name

Go Car Funding Limited

Website

https://gocar.co.nz

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Go Car Finance is a New Zealand secured vehicle lender serving non-conforming borrowers excluded by traditional banks. A subsidiary of ASX-listed Solvar Limited, it ceased accepting new loan applications in August 2024 and now services its existing portfolio.

Ownership category

akta.pro rank

Product category

Consumer Auto Finance

NAICS

Sales Financing (522220)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

New & Used Auto Purchase Loans (FSAKADAA)

akta.pro secondary industry

Vehicle Protection & Add-on Product Financing (Warranties, GAP, Service Plans) (FSAKADAL)

Keywords

• Vehicle finance
• Secured car loans
• Consumer auto lending
• Non-conforming credit
• Subprime auto loans

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Vehicle Loan Interest: Go Car Finance generates revenue through interest charged on secured vehicle loans. Interest rates range from 12.70% to 28.50% annually. Interest is calculated daily on remaining balance and charged monthly.
2. Secured Credit Agreement Fees: The company charges fees in relation to Secured Credit Agreements as outlined in their Schedule of Fees document.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Go Car Finance provides secured vehicle loans (interest rates 12.70% to 28.50% per annum, loan amounts $3,000 to $100,000, terms up to 3 years) directly to New Zealand consumers who are often excluded by traditional banks. As a subsidiary of Solvar Limited (ASX: SVR), the company operates under responsible lending laws and complements its loans with a client portal, Go Connect vehicle tracking device, and SMS-based account services.

Product overview

Go Car Finance is a car finance lending company operating as a single-brand offering in New Zealand under Solvar Limited. The core product is secured credit agreements for vehicle financing. The product portfolio consists of the main lending service (Go Car Finance), a customer-facing web portal for account management, a vehicle tracking device (Go Connect), and associated loan documentation products (My On Road Plan, Direct and Assignment Secured Credit Contracts). As of August 2024, the company has suspended new lending to focus on serving existing customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Go Car Finance Secured Vehicle Loans Direct secured vehicle loans for New Zealand consumers who cannot access traditional bank finance. Loan amounts range from $3,000 to $100,000 with terms up to 3 years and interest rates from 12.70% to 28.50% per annum; repayment options include weekly, fortnightly, or monthly. The company ceased accepting new applications on August 6, 2024, and currently services existing customers only.
• Go Car Client Portal (Web App) Self-service web application for existing Go Car Finance loan customers to manage their accounts 24/7 from any internet-connected device. Allows users to view loan details, payment history, upcoming payments, registration and WOF expiry dates, download statements, obtain close quotations, and track their vehicle (when fitted with a Go Connect device). Secured with Multi-Factor Authentication.
• Go Connect Vehicle Tracking Device Hardware device fitted to financed vehicles that enables vehicle location tracking via the Go Car Client Portal and provides the lender with starter-interruption capability as a last-resort credit control measure. Customers can send an SMS command (ENBL to 3411) to temporarily re-enable the starter in case of emergency.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Turners Automotive Group: NZ integrated automotive group with used vehicle sales, auctions, and finance arm. Competes in vehicle financing and offers similar customer-facing products, though primarily through dealer-channel origination.
• Latitude Financial Services: Major ANZ consumer finance provider offering personal loans, credit cards, and vehicle finance including to non-prime customers. Operates at much larger scale but addresses overlapping customer needs across the region.
• UDC Finance: Established New Zealand finance company (owned by ANZ) providing asset and vehicle finance to businesses and consumers. Broader portfolio but a major participant in NZ vehicle finance with overlapping customer segments.

Direct peers

• Finance Now: New Zealand non-bank lender providing vehicle and personal loans to consumers, including those with impaired credit histories. Directly comparable product offering and target segment to Go Car Finance.
• Instant Finance: NZ-based non-bank consumer lender offering personal and asset-secured loans, including vehicle finance, to a broad credit-quality range including non-conforming borrowers — comparable niche and product mix.
• AFS (Automotive Financial Services): Another Solvar group brand providing non-conforming to mid-prime car finance and business vehicle finance in Australia. Operates the same model as Go Car Finance but in the Australian market.
• MTF Finance: One of New Zealand's largest non-bank vehicle financiers, offering secured car loans to a broad credit spectrum including near-prime and non-conforming borrowers — the closest active competitor in the NZ auto lending space.
• Money3: Sibling brand under Solvar Limited (ASX: SVR) offering car loans and personal loans to Australian consumers excluded by traditional finance providers — directly comparable product, customer segment, and risk profile to Go Car Finance.
• Avanti Finance: New Zealand non-bank lender offering consumer and vehicle finance across a range of credit profiles, including non-conforming. Operates in a directly comparable regulatory and product environment to Go Car Finance.

Regional players

• Copia Capital (formerly Get Capital): Australian non-bank lender to small businesses and consumers, including vehicle and equipment finance. Comparable alternative-finance business model but operating in Australia rather than NZ.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/gocarfin

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Go Car Finance