Applying for and getting a car loan is a transparent and straightforward process with Money3. We aim to see you driving away with your dream car as soon as possible, and will consider your application even if you’re on Centrelink, have a bad credit history or have been turned away from lenders before1.
To simplify your application process, it may be helpful to learn about our car loan requirements. Below are the basic requirements1 you may need to meet when applying for car finance with Money3.
You need to be 18 years old and over to apply for a car loan with Money3. This is a requirement by Australian law.
You’ll need to have take-home income or benefits of over $480 per week. This may include income from employment, Centrelink benefits, pension payments and other sources. Our car loans are also available to self-employed workers, who can demonstrate consistent regular income.
For all applicants, we recommend being as honest as possible in your car loan application and avoiding heavy gambling.
Money3 offers loans to Australian residents and citizens. We offer both secured car loans and unsecured personal loans.
We will need to see your most recent banking activity and request your latest 90 day bank statements.
You will need to provide proof of employment or Centrelink payments to qualify for a car loan1. This is to ensure that the loan is affordable for you and that you can comfortably make your weekly, fortnightly or monthly repayments.
1. Subject to verification, suitability and affordability
What you need for a good car loan depends on the lender you work with. Different lenders have varying car loan requirements, although most require you to be 18 years and older, have Australian residency, and provide proof of your income.
Money3’s lending criteria is simple and straightforward, and we’ll explain our requirements in detail when guiding you through our car loan application process.
Your eligibility for a car loan depends on whether you meet the relevant car loan requirements. At Money3, we believe in giving everyone a fair go, even if you’re on Centrelink income, have a poor credit history or have been turned away by lenders previously.
There is no definite required credit score when applying for a car loan. Money3 may consider your application even if you have had a bad credit score in the past. We will take your financial situation into account when considering your application.
At Money3, we offer a wide range of car loans of up to $75,000. Provided that you meet our car loan requirements, we will consider your application even if you have a bad credit history, are on Centrelink income, or have been turned away by lenders before.
Money3 will give you a fair go at getting a car loan. We’ll look at your financial situation and personal objectives when considering your application. Our car loans go up to $75,000 and can finance both new and used cars.
Learn more about Car Loans
Our car loans are available for used and second-hand cars. Whether you’re interested in a private sale or dealership, Money3’s used car loan could help you purchase your dream car1.
Learn more about Used Car Loans
Get electric car loans of up to $75,000 with Money3. You can apply for an electric car loan even before you have a vehicle in mind. You can also enjoy our special offer of 5% off your electric car loan APR rateE.
Learn more about Electric Car Loans
You can apply for a car loan with Money3, even if you are receiving Centrelink payments. We believe in giving everyone a fair go, including those who are on Centrelink benefits1.
Learn more about Loans on Centrelink
If you have a small car you’d like finance for, let Money3 help. Our small car loans can help you purchase your dream vehicle and get you one step closer to driving your dream car.
Learn more about Small Car Loans
At Money3, we’ll consider your car loan application as long as you meet our lending criteria, even if you have bad credit history. Our car loans finance up to $75,000 and are catered to your financial situation.
Learn more about Bad Credit Car Loans
1. Subject to verification, suitability and affordability
E. See our Electric Car Discount Terms & Conditions for details
Also check out the related articles below:
If you’re looking to learn how to get a car loan, we’ve got you covered. This guide breaks down the four basic steps, from understanding loan criteria to loan pre-approval.
A secured car loan is a secured personal loan, where the lender has security over your vehicle, while the vehicle is being financed.
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ABN 36 108 979 406 / Australian Credit Licence 389 067
Call us on 1300 014 870.
