Car loans up to $50,000 with Centrelink income less than 50% of your total income.
The maximum car loan with 100% of your income from Centrelink is $12,000 for first time customers.
Money3 could be the key to getting your car loan on centrelink approved. Whether part or all of your income is from Centrelink, we'll give you a fair go1 when looking over your application.
The easiest way to get started, is to complete the short form above and let us know a bit more about your income and expenses, so we can put together a loan offer that is suitable and affordable to you in your curent situation1. We'll let you know how much you could afford to borrow and an indication of what your weekly or fortnightly repayments would be, to put you right in the driving seat.
With Money3, we'll let you know how much you could borrow by giving you a loan pre-approval offer. This will allow you to go out and start looking for your next vehicle.
Used or second hand vehicles are very common for our Centrelink car loan customers and you could start looking online or by visiting your local used car dealerships.
All vehicle types are considered with our Centrelink vehicle finance options, so we are happy to finance cars, motorbikes, caravans or even other vehicle types, such as boats or minibuses.
1. Subject to verification, suitability and affordability
So what is a pre-approval loan offer?
Before you go out and start looking for a new or used car, it is important to know how much money you can afford to spend on your next vehicle. It can be very frustrating and disapointing to fall in love with a vehicle, only to find out later, when looking for a loan that the vehicle is too expensive and that you won't be able to finance the vehicle. Your pre-approval loan offer with Money3, gives you a clear indication of what you can afford to borrow and that all you need to do is find a suitable vehicle, within the loan offer range.
By having a pre-approval loan offer, you'll know which vehicles could be suitable for your budget and then, once you have settled on a vehicle that you'd like to purchase, we can then step in and quickly finance the deal, providing everything about the vehicle checks out1.
As a responsible lender, how much you could borrow with us will be based on how much you can comfortably and affordably repay within the loan term.
To qualify with us, you must:
1. Subject to verification, suitability and affordability
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,211 | $7,211 |
| 24 Months at 19.95% APR & 35.97% Comparison Rate | ||
| $7,500 | $3,316 | $10,816 |
| 24 Months at 19.95% APR & 39.00% Comparison Rate | ||
| $10,000 | $6,803 | $16,803 |
| 36 Months at 19.95% APR & 38.18% Comparison Rate | ||
| $12,500 | $8,252 | $20,752 |
| 36 Months at 19.95% APR & 37.19% Comparison Rate | ||
| $15,000 | $9,701 | $24,701 |
| 36 Months at 19.95% APR & 36.53% Comparison Rate | ||
| EXAMPLE: A platinum unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,210.20 and a total repayment of $7,210.20. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 35.97% EXAMPLE: A platinum secured personal loan of $10,000 for 36 months has fees and charges totalling $6,802.97 and a total repayment of $16,802.97. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 38.18% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,557 | $7,557 |
| 24 Months at 25.00% APR & 44.43% Comparison Rate | ||
| $7,500 | $3,835 | $11,335 |
| 24 Months at 25.00% APR & 44.43% Comparison Rate | ||
| $10,000 | $7,903 | $17,903 |
| 36 Months at 25.00% APR & 43.47% Comparison Rate | ||
| $12,500 | $9,627 | $22,127 |
| 36 Months at 25.00% APR && 42.51% Comparison Rate | ||
| $15,000 | $11,351 | $26,351 |
| 36 Months at 25.00% APR & 41.87% Comparison Rate | ||
| EXAMPLE: A silver unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,556.20 and a total repayment of $7,556.20. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 44.43% EXAMPLE: A silver secured personal loan of $10,000 for 36 months has fees and charges totalling $7,902.74 and a total repayment of $17,902.74. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 43.47% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases.> |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,767 | $7,767 |
| 24 Months at 28.00% APR & 47.66% Comparison Rate | ||
| $7,500 | $4,150 | $11,650 |
| 24 Months at 28.00% APR & 47.66% Comparison Rate | ||
| $10,000 | $8,577 | $18,577 |
| 36 Months at 28.00% APR & 46.62% Comparison Rate | ||
| $12,500 | $10,469 | $22,969 |
| 36 Months at 28.00% APR && 45.68% Comparison Rate | ||
| $15,000 | $12,361 | $27,361 |
| 36 Months at 28.00% APR & 45.05% Comparison Rate | ||
| EXAMPLE: A bronze unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,766.35 and a total repayment of $7,766.35. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 47.66% EXAMPLE: A bronze secured personal loan of $10,000 for 24 months has fees and charges totalling $8,576.21 and a total repayment of $18,576.21. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 46.62% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. |
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A Centrelink car loan is offered to customers who get all or most of their income via Centrelink. Many lenders will not be willing to finance a car loan to customers whose income is only via Centrelink. The good news is that Money3 considers all types of income, whether from employment or Centrelink, when assessing your loan application. Your Centrelink car loan could be approved with Money3.
The application process is quick and simple, so the information you need to complete your application should be easily on hand. You'll need to confirm your contact details, address, employment details and regular expenses. Optionally, you can confirm your driving licence, which will help speed up your application. After that, due to responsible lending concerns, we require 90 days bank statements which can be given securely online in a few minutes.
As the car or vehicle you will be buying with your loan from Money3 is used as security for your loan, no other security is required.
If your income is a mix of earnings from employment, plus Centrelink income, then the maxiumum you could borrow could be up to $50,000 depending on your affordability1. If your income is over 50% and up to 100% from Centrelink, then the maximum we could finance would be up to $12,000 for first time customers.
Yes, it is possible for existing customers with 100% Centrelink to borrow more than $12,000, although your repayment history and the loan affordability will be taken into consideration1.
No you won't have to. If you have saved a deposit, great, that can be used together with your loan from Money3, but it is not necessary to have one.
No you don't. However you choose to find your vehicle is up to you. Dealerships and private sales are fine.
Yes, that is also possible. Complete the application as a single applicant and let us know that you'd like to make a joint application. The amount you could borrow with a joint application may be higher1.
Yes, it is1. We will look at your current financial situation and your affordability when reviewing your application for finance. We are specialists in assisting people with irregular financial circumstances and will give you a fair go. See Pensioner Car Loans for more details.
1. Subject to verification, suitability and affordability
Customers who have viewed this page and shown an interest in car loans on centrelink, have also visited the following pages:
Centrelink LoansSingle Parent Car LoansPensioner Car LoansBad Credit Car LoansSecond Chance Car Loans
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Call us on 1300 014 870.
