UDC Finance is one of New Zealand's longest-running asset-finance companies (origins 1938) with a national specialty in chattel-mortgage lending against commercial vehicles, trucks, trailers, plant, and machinery.
Indicative repayment
Weekly
$527/week
Indicative only. Not a quote or offer of credit. Actual rates, fees, and repayments depend on the business profile and the lender's decision.
Sending to Prospa
4 years at 10.00%. Prospa will ask a few quick questions, then provide a firm quote and funding if eligible.
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Indicative only. Why we say this
Quick answer
Lender overview
UDC Finance traces its NZ history to 1938 and has operated as an asset-finance specialist for the bulk of that period. From the 1980s until 2020, UDC was a wholly-owned subsidiary of ANZ Bank New Zealand. In 2020, ANZ sold UDC to Shinsei Bank of Japan (now SBI Shinsei Bank), and UDC has continued to operate as a standalone NZ asset-finance brand.
The product set is narrower than a full-service NZ bank or non-bank lender. UDC's core is chattel-mortgage and hire-purchase financing against commercial vehicles (utes, vans, light commercial), trucks and trailers, plant and yellow goods, agricultural equipment, and general business plant and machinery. UDC is FSPR-registered and a member of an external dispute resolution scheme.
Distribution is heavily through accredited NZ dealers with a direct application path also available. The competitive position is built on category specialisation: rate, term, and structure are commonly comparable to or sharper than the major banks' asset-finance divisions on like-for-like deals.
Founded
1938, NZ
Specialty
Asset finance
Channel
Dealer and direct
Type
NZ asset finance company
Product range
Chattel mortgage and hire purchase against utes, vans, and light commercial vehicles. Most common UDC product, distributed heavily via motor dealers, with PPSR-registered security over the vehicle.
Specialist financing for heavy commercial vehicles, including trucks, refrigerated trailers, curtain-siders, tippers. Distribution via accredited NZ truck dealers is the dominant channel.
Asset finance against industrial plant, yellow-goods machinery (excavators, loaders, forklifts, telehandlers), agricultural equipment, and general business machinery.
Lease structures (operating and finance lease) where the borrower prefers an off-balance-sheet treatment, a residual at end of term, or a return-the-asset option.
Indicative pricing
| Product | Indicative rate band | Common term | Security |
|---|---|---|---|
| Commercial vehicle (chattel mortgage) | 8% to 12% p.a. indicative | 1 to 5 years | The vehicle |
| Truck and trailer | 8% to 13% p.a. indicative | 1 to 5 years | The vehicle |
| Plant and yellow goods | 9% to 13% p.a. indicative | 1 to 7 years | The asset |
| Agricultural equipment | 8% to 12% p.a. indicative | 1 to 7 years | The asset |
| Operating or finance lease | 9% to 14% p.a. indicative | 2 to 5 years | UDC retains title |
Where it fits
Editorial-only disclosure
Businessloans.org.nz is not affiliated with UDC Finance, has no commercial relationship with UDC as at the last reviewed date, and earns no referral revenue from links to UDC's website. Our calculator referral path is to Prospa, disclosed at /partner/. Indicative content only.
References
Primary product range and product positioning reference.
Verification of NZ FSPR registration for UDC Finance.
Confirms UDC is not a registered NZ bank.
Background reference on depreciation treatment for chattel-mortgage assets.
Public corporate registry record.
FAQ
No, UDC Finance is not a registered New Zealand bank and is not supervised by the Reserve Bank of NZ. UDC is a long-established NZ asset-finance company (founded 1938), formerly owned by ANZ Bank New Zealand and now owned by SBI Shinsei Bank of Japan.
UDC specialises in asset finance for NZ businesses, with the core product being chattel-mortgage and hire-purchase financing against commercial vehicles, trucks and trailers, plant and yellow goods, agricultural equipment, and general business machinery.
UDC was wholly-owned by ANZ Bank New Zealand from the 1980s until 2020. In 2020, ANZ sold UDC to Shinsei Bank of Japan (since rebranded as SBI Shinsei Bank).
UDC quotes a tailored rate after assessment. Indicative bands observed run roughly 8% to 12% p.a. for commercial vehicle chattel mortgages, 8% to 13% p.a. for truck and trailer finance, and 9% to 13% p.a. for plant and yellow-goods finance.
The most common path is dealer-introduced application, where the NZ dealer submits the application as part of the asset transaction. A direct application path is also available via udc.co.nz.
Dealer-introduced applications on smaller commercial-vehicle deals commonly receive an indicative decision within hours and settle inside 3 to 7 business days. Larger plant deals (above $250K) typically take 1 to 2 weeks.
A chattel mortgage is generally treated as the borrower owning the asset from day one for GST purposes, which means the GST on the asset price can typically be claimed in the next GST return where the business is GST-registered, subject to the accountant's confirmation.
Interest on a UDC business loan or finance lease used wholly for business purposes is generally deductible against business income for NZ tax purposes, subject to the accountant's confirmation.
UDC and the asset-finance arms of the major banks compete closely on standard NZ commercial vehicle, truck, and plant deals. UDC commonly wins on dealer-channel speed and category-specific structuring.
On default, UDC's first remedy is the registered PPSR security interest over the asset. Repossession follows defined NZ commercial process. Any deficiency is pursued against the borrower entity and director personal guarantees.
Yes, UDC accepts refinance applications across commercial vehicle, truck, plant, and equipment finance. Common triggers are a credit-profile improvement, a rate cycle move, or consolidation of multiple asset loans.
UDC funds both new and used commercial vehicles and equipment. On used assets, the maximum age at end of term and the asset's residual value influence the available term and deposit requirement.
Related
Asset finance
The product family UDC sits at the centre of in the NZ market.
Read onVehicle finance for business
UDC's core SME product.
Read onEquipment finance
Plant, yellow-goods, and general equipment finance via UDC and other NZ lenders.
Read onCourier and freight loans
UDC has been the default NZ courier and owner-driver lender since 1937.
Read onTrucking and haulage loans
UDC is the largest non-bank specialist for heavy vehicle finance in NZ.
Read onBuilder loans
Ute, trailer, and small-equipment finance for NZ residential builders.
Read onDisclaimer
A business loan is a commitment that runs for months or years, and repayments come out of the same operating cash flow as everything else. Before committing, it is worth modelling the weekly and monthly cost against the business's working-capital position, which is what this site is built to help with. Borrowing at a level that stays comfortable through a quiet quarter, not just a strong one, is widely regarded as the safer frame.
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What the figures show
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What the lender decides
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Tax, GST, and accountant framing
Tax-treatment statements (GST claim timing, interest deductibility, depreciation rates) are general in nature and subject to your accountant's confirmation on the specific business position. For material amounts, professional advice from a registered financial adviser or chartered accountant is widely regarded as the safer frame.
