2 Cheap Cars secures finance deal with ANZ Bank

2 Cheap Cars has announced the securing of a new finance facility with ANZ Bank.

The facility agreement includes a $5 million trade finance loan and a $1m commercial flexi facility, which will provide the company with competitively priced working capital finance.

2 Cheap Cars said the new finance arrangement will support inventory purchases and operational growth.

The company also provided a trading update, revealing that the sustained economic downturn and market volatility have continued to impact profitability into the fourth quarter of the 2025 financial year.

However, it still expects its net profit after tax for the year to exceed $3m, thanks to the favourable impact of carbon credits carried forward from prior years.

2 Cheap Cars operates as an integrated used automotive group, with 12 dealerships across New Zealand.