Peace of mind protection

Protect yourself from unforeseen events and keep you and your new car on the road with our range of protection products that we can tailor to suit your needs.

Payment waiver

You can't predict when you might be affected by redundancy, injury, illness or even death, or how you'll manage if your vehicle is written off and you still owe money.

Payment waiver is an optional product you can select which provides protection if the unexpected happens. When payment waiver applies, the payments under your contract will be waived, within agreed limits, if an agreed event occurs and all other conditions are satisfied.

The cost of payment waiver is included in your repayments for the full term of your loan. You choose the level of payment waiver you want, so that your repayments will be taken care of.

  • Payment waiver options
  • Level of payment waiver Events to which payment waiver applies
    Platinum
    • death
    • disablement
    • terminal illness
    • redundancy
    • insurance shortfall
    Gold
    • death
    • disablement
    • terminal illness
    • redundancy
    Silver plus
    • death
    • disablement
    • terminal illness
    • bankruptcy
    • insurance shortfall
    Silver
    • death
    • disablement
    • terminal illness
    • bankruptcy
    Bronze plus
    • death
    • insurance shortfall
    Bronze
    • death
    Jade
    • insurance shortfall

    What is insurance shortfall?

    Insurance shortfall is the difference between the payout under your comprehensive vehicle insurance policy for a total loss of your vehicle and the amount you owe MTF on the same vehicle. When payment waiver applies, payment of that difference is waived, up to $10,000.

    What happens if my circumstances change?

    If you select payment waiver with your finance, we will waive your loan repayments if something unexpected happens, such as redundancy or a serious illness that prevents you from working for an extended time.

    You choose the level of payment waiver required at the time you take out the loan.

    If you can't manage your repayments for another reason, talk to your local MTF contact as soon as possible. We may be able to help you find another solution.

    How do I make a claim?

    Please call 03 378 3425 or email paymentwaiver@mtf.co.nz.

    Terms and conditions apply

Mechanical breakdown insurance

If you take mechanical breakdown insurance with your loan, you’re covered if your vehicle has unexpected mechanical or electrical problems. We include AA Roadservice assistance, plus accommodation and transport if you can't get to where you're going.

  • Mechanical breakdown insurance details
  • Mechanical and electrical repair

    You'll be covered for the reasonable cost of repairing most mechanical and electrical problems.

    24-hour AA Roadservice

    Roadside help is only a phone call away for mechanical breakdown, a flat battery or tyre, or even if you're out of fuel or have locked yourself out.

    Call 0800 581 581 and quote your policy and vehicle registration number.

    Accommodation or vehicle rental

    If it takes more than 24 hours to repair your vehicle, and you're more than 100km from home, you'll get up to five days accommodation or five days vehicle hire (maximum limits apply).

    Vehicle recovery

    Covers the cost of towing your vehicle to the nearest approved repairer.

    Generous claim limits

    There is no limit to the number of claims you can make during your policy, although there is a limit to the amount that can be paid during any policy period or for any single breakdown.

    Making a claim

    Call 0800 809 700 to find your nearest approved repairer.

    You will need your Certificate of Insurance, so the repairer can confirm that you're able to make a claim.

Comprehensive insurance

To protect you and your vehicle, comprehensive insurance is required on your vehicle for the duration of the loan. We can help organise affordable, appropriate cover for your new pride and joy.

Our comprehensive insurance includes:

  • windscreen and window glass cover
  • towing and accommodation allowance
  • market value policy