Blackbird can help you improve margins, increase profits, and grow your vehicle stock.
Because we specialise in finance for vehicle importers, we really understand the market and what your business needs to grow.
This frees up your cash flow and lets you purchase vehicles from multiple suppliers without having to rely on a single vendor simply because they provide finance. With more cash available, you’ll be able to negotiate better deals with suppliers and you won’t need to rely on any one supplier to import on your behalf.
It also means you’re not exposed to currency fluctuations. Once you’ve drawn down the funds to pay for your vehicles, all our funding is invoiced in New Zealand dollars. That means you’ll know the car’s exact FOB value.
You can also choose from a wide range of suppliers and arrange your own logistics and compliance, so the savings really start to add up.
Take control of your own business and grow.
Frequently Asked Questions
Dealers’ Frequently Asked Questions
Am I eligible for a Blackbird Finance loan?
Getting a Blackbird Loan is simple. You’re eligible if you:
- are a NZ Registered Motor Vehicle Dealer.
- have had at least three years in the Motor Vehicle industry and a couple years in business.
- have your own secure retail yard.
- have a reasonable credit history.
How much will I be able to borrow?
Get your business moving quickly with our low doc ‘Express Facility’. This facility for up to $100,000 is perfect for first-time customers. When we’re happy with your performance and you’re happy with our service, we can tailor a credit limit to suit the size and turnover of your business. Alternatively, if you are looking to really kick things into high gear, you may wish to apply for a larger credit limit straight away by providing the standard financial information, most lenders will ask for, when setting up a loan facility.
What security do I need to provide?
Blackbird keeps it simple by using your funded vehicles as primary security. We’ll control the import documents and MR2A until the vehicle is sold or the loan is repaid. You’ll have to sign a Vehicle Import Finance Agreement – which includes a Guarantee from the Dealer Principal and in most cases, a general security over the company.
Can I apply for a Blackbird Facility if I have other finance?
A Blackbird facility lets you make the most of your capital. Most of the time, a Blackbird facility will not affect any existing finance your business may have.
Can I choose my own providers?
Keep it simple by using your tried and trusted agents, vendors, logistics, and compliance shops. We need to pre-approve these providers, if we haven’t already. This is a simple process.
What is a Floorplan Facility?
Our Limited Floorplan Facility lets you extend funding after your vehicles have reached New Zealand. Under a Floorplan Facility, you can continue your loans until the vehicle is sold or up to the end of the maximum loan term. The Floorplan Facility only applies to vehicles that have already been funded for Transit / Compliance.
What costs will I have to cover?
Blackbird only funds the FOB value of the vehicle less any deposit, if required, and you will have to pay the freight and GST on arrival and any compliance fees due.
How much does Blackbird charge for its finance?
Like any lender, we charge interest (currently 7.95%) on outstanding balances. There is also an establishment fee based on the FOB value of each vehicle, and a fee if the floor plan facility is required. In most cases, the savings you can achieve by negotiating directly with a supplier far outweigh any funding costs.