Used passenger and light goods vehicles imported into New Zealand will be subject to further screening checks next month when the last phase of the ESC safety mandate rolls out.
The Government’s introduction of mandatory electronic stability control (ESC) on all cars imported into New Zealand has gradually been rolled out over the last five years.
From Sunday 1st March, used small vehicles and vans without ESC will no longer be allowed into New Zealand and further border checks will be carried out.
ESC is a crash prevention system that intervenes if it detects that a vehicle is about to skid or lose traction. It can independently control the braking of each wheel to correct the vehicle and pull it back into line if it is skidding out of control. In 2014 the Government predicted the ESC changes would prevent more than 400 deaths and 1800 serious injuries over the next 20 years.
What does this mean for businesses?
CEO of Partners Finance & Lease, Francis Fitzgerald said: “The ESC mandating has been a huge step in the right direction for vehicle safety in New Zealand. While the Government did not expect the changes to have much effect on the price of cars, there inevitably will and already has been an increase in the price of vehicles.
“There will still be several vans on the market without ESC in New Zealand. When it comes to buying these types of vehicles, we’re still able to provide finance on these types of vehicles as long as they are in New Zealand.”
Van finance
With banks tightening their lending criteria, you may need to consider alternative funding options when purchasing your next van. For more information about a solution for you call us on 0800 727 101 or email info@partnersfinance.co.nz
Alternatively, click here for more information about our asset finance.