Auto finance for those on a pension or other government benefit.
While you can still get a car loan using Centrelink income, not all categories of Government benefits are the same. When you submit your inquiry our team of brokers will assess your income type and match you with a lender that can accommodate your circumstances.
Even if you are on the Pension, or receiving a single mother payment, you may still be eligible for a car loan with affordable repayments.
However, it is important to note that every lender will consider each category differently. Some categories such as Jobseeker and youth allowance are not suitable for obtaining car finance at all, but these are usually limited to those that are intended to be short-term benefits.
So get in touch with our experts today to discuss your options. You may be surprised how soon you could be in your next car!
Every lender has their own policies for how they will treat Centrelink income when assessing you for a car loan. And the rules are changing all the time! But our team of brokers will be up to speed with the latest – they live and breath auto financing!!
As a general guide, the following list will help you know where you stand:
Note that this is not a comprehensive list and if you are unsure to give us a call
If you have had bad credit in the past there may still be options available to you. There are lenders who will consider your more recent financial history and not assess you entirely on past mistakes.
As time passes, and you demonstrate improved financial habits you may be eligible for a loan now even if a default is still recorded on your credit file.
There is no need to wait if you are receiving Centrelink, and are looking for some new wheels! Get in touch with Gusto Finance today and we can walk you through the process to secure the car of your dreams today!
An inquiry will not effect your credit score and we can walk you through your options.
How are we different?
Fast finance for the everyday Australian.
How does it work?
Fast finance for the everyday Australian.
FAQs
Here’s a little more about how we operate. Got a more specific question? Feel free to get in touch.
You can start by completing our inquiry form here. You will also need to supply the following documentation:
Once you have provided all of the required information we will process and submit your application within hours! We aim for same-day approvals and a speedy settlement.
Loan approval timeframes are dependent on your circumstances and cannot be guaranteed but we will always be following up with GUSTO!
Yes, bad credit car loans are our specialty! We have a number of lenders on our panel who will lend based on current behaviours rather than focusing only on past mistakes.
If you are not yet ready then we can help wth some general guidance for how to improve your credit.
The short answer is yes, but it will depend on the number, size, and type of defaults. Our expert brokers can provide you with a consultation to find what options are available to you.
Book your obligation free consultation here.
As part of your initial consultation we will do a “soft credit check”. This does not affect your credit score and will not show as an inquiry on your credit file.
Once we submit your application to a lender they will always complete a full credit check as part of your loan assessment. This will show up as an inquiry.
Yes, some of our lenders will consider Centrelink income when assessing your capacity to make repayments on your car loan.
However, not all Centrelink income categories are eligible and our brokers can guide you through this.
Book your obligation free consultation here.
You can borrow the full value of the car if this is your preference as long as you have the capacity to make the repayments and satisfy other lending criteria.
However, if you have a deposit this can help either reduce the size of the loan and the costs you will pay over time. Or, you may be able to get a better quality car.
You may be able to drive away in as little as 48 hours if your application is transparent and complete.
We always pursue a speedy outcome with GUSTO!
Our brokers will provide expert guidance to find the most suitable car loan for your circumstances.
A credit guide and consent form will be provided to you prior to any loan application submission on your behalf. We will then fight with GUSTO to find a great deal!
ACN: 677 827 637
Gusto Finance PTY LTD | ACN: 677 827 637 | Credit Representative # 559858 is authorised to provide credit assistance by National Finance Connections | Australian Credit License # 543046.
Disclaimer:
This website is designed to provide you with factual information only. This information contained within does not take into account your needs objectives or financial situation. To understand whether a credit product is right for you speak to one of our licensed Finance Brokers. Terms, conditions, fee’s, charges and minimum loan amounts may apply. Credit is subject to approval by the credit provider under their responsible lending policy.
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