What does an asset finance broker do?
A broker acts as an intermediary between your business and lenders. Instead of applying to one bank or finance company and hoping your application fits their criteria, a broker assesses your situation and identifies which lenders on their panel are most likely to approve your deal — at the best rate available to you.
At fundr, that means a panel of 15+ NZ lenders across banks and non-bank specialists. One application goes to Nick. Nick identifies the right lender for your specific asset, industry, and credit profile, structures the deal, and manages the process through to settlement.
The broker is primarily paid a commission by the lender — not by you. In some cases a broker fee may apply on more complex deals, and Nick will always be upfront about this before you proceed.
Going direct vs using a broker — the honest comparison
Going directly to your bank for asset finance isn't wrong. If you have a long-standing relationship with your bank, a clean credit history, and a straightforward application, your bank may well be the right option — and fundr will tell you that if it's the case.
Where a broker adds most value is when:
- The bank isn't your best option — Banks have strict credit criteria and specific asset preferences. For older vehicles, specialised equipment, shorter trading histories, or applications with any complexity, non-bank lenders often offer better terms or higher approval likelihood.
- You don't have time to shop around — Researching 15+ lenders, understanding their criteria, preparing applications, and managing the process is a significant time investment. A broker does this for you.
- Your first application was declined — A declined application leaves a mark on your credit file. A broker can assess which lenders are most likely to approve before any application is submitted, reducing the risk of unnecessary declines.
- You're not sure which structure is right — Term loan, hire purchase, finance lease, operating lease — the right structure depends on your GST position, balance sheet, and how long you plan to keep the asset. Getting this wrong has real tax and cashflow consequences.
- You want someone to negotiate on your behalf — Lenders price deals based on the information they receive and how it's presented. An experienced broker knows what matters to each lender.
| Scenario | Go direct | Use a broker |
|---|---|---|
| Simple deal, clean credit, existing bank relationship | ✓ Good option | May add limited value |
| New business (<12 months trading) | ✗ Limited options | ✓ Better options |
| Specialised equipment or older vehicle | ✗ Bank may decline | ✓ Non-bank lenders |
| Previously declined | ✗ More credit marks | ✓ Right lender first |
| Unsure of best structure | ✗ Bank advises their product | ✓ Independent advice |
What fundr actually does differently
Most people who contact fundr haven't used a specialist asset finance broker before. They've either gone directly to their bank, dealt with a dealer's finance arm, or used a general lending comparison site. Here's what the fundr process actually looks like:
When does it make more sense to go direct?
In the interests of being straight with you: there are situations where going direct is genuinely the better call.
- If you have an existing relationship with your bank and they've already indicated they'll approve your deal on competitive terms — take it.
- If the asset is simple, the amount is small, and you have strong credit — some lenders have streamlined direct processes for low-risk applications.
- If your bank is offering a packaged deal tied to other products — sometimes banks offer rate discounts in exchange for consolidating your banking. A broker can't replicate this specific structure.
fundr will always give you an honest view of whether using us is the right move for your specific situation.
What to look for in an asset finance broker
- Lender panel size — A broker with access to 5 lenders is meaningfully different from one with access to 15+. More lenders means more options, particularly for complex applications.
- Commercial lending experience — Asset finance for businesses is different from consumer finance. A broker who understands commercial structures, GST implications, and lender credit criteria for different industries will structure your deal more effectively.
- Transparency on fees — A good broker is upfront about whether a fee applies before you commit to anything. If you can't get a clear answer on this upfront, that's a red flag.
- One point of contact — For a business finance application, you want to deal with the same person who assessed your deal, submitted it, and is managing the lender.
- Industry knowledge — A broker who understands your sector — construction, transport, trades, healthcare — will know which lenders have an appetite for your type of application.
Common questions
Talk to Nick.
If you're considering asset finance — for a truck, ute, equipment, or business asset — start with a conversation. Nick will give you an honest assessment of your options and whether using fundr is the right move for your situation.