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Centrelink Car Finance QLD

Borrow up to $50,000 towards your next vehicle purchase when less than 50% of your regular income is from Centrelink payments. If 100% of your income is from Centrelink and you’re a first-time customer, you could access up to $8,0001.

  • 100% Centrelink Considered1
  • Used Cars and Other Vehicles OK
  • Private Sale or Dealerships OK
  • Bad Credit History Considered1
  • No Deposit Necessary!
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Centrelink Car Finance in Queensland up to $50,000

Getting a car loan on Centrelink payments could be easier than you think with Money3. We believe in giving everyone a fair go and will consider applications for finance whether you receive some or all of your income via Centrelink payments.

Just complete the quick form above to start the application process. All we need is a few simple details about you and your finances so we can work with you to deliver a reasonable and affordable car loan.

Money3 makes the whole process quick and easy. We provide full transparency on the total amount you can borrow and how much your regular repayments will be. If we determine the loan is reasonable based on your finances, we can give you a loan pre-approval which you can use to buy a new car, motorbike, truck, caravan, or any other type of vehicle.

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Centrelink Car Finance in QLD up to $50,000

Getting Pre-Approved

Have you ever found a car you like, only to be disappointed when you can’t get a big enough loan to afford it? You can avoid this frustrating situation with loan pre-approval from Money3.

Loan pre-approval lets you know what kind of vehicles you can afford to purchase before you start shopping. Money3 will tell you how much you could be eligible to borrow based on your financial circumstances1, allowing you to shop with confidence, knowing what vehicles are within your price range.

When you find the right vehicle, we can finance the purchase, providing everything checks out1.

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Centrelink Car Finance in QLD up to $50,000

Who is Eligible For Centrelink Car Finance in Queensland?

If you receive government benefits, like family tax benefit or Centrelink pensions, you could apply for a car loan on Centrelink from Money31. As a responsible lender, Money3 will only approve you for a car loan if we are confident it will be affordable and reasonable given your current finances.

To be eligible for a car loan, you must:

  • Be Over 18 Years Old
  • Have Take Home Income or Benefits over $400 a Week1
  • Be an Australian Resident
  • Get Your Income Paid into Your Account
  • Be Employed or Receiving Centrelink1
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Centrelink Car Finance in QLD up to $50,000

Example Centrelink Car Finance in QLD Costs Chart

Platinum
19.95% APR
Silver
25.00% APR
Bronze
28.00% APR
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
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
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

Frequently Asked Questions

What’s Centrelink Car Finance?

Centrelink car finance works the same way as other car loans but is open to those in receipt of Centrelink payments who other lenders would typically reject. Money3 believes in giving everyone a fair go1 and considers all income sources when determining the suitability of a loan. We care about whether the loan is affordable based on your ability to repay it comfortably and won’t reject your application solely because you receive government benefits.

Can I apply for a car loan if I receive Youth Allowance, Abstudy or Austudy?

No, unfortunately, you cannot. Money3 will consider all Centrelink benefits except for Abstudy, Austudy and Youth Allowance payments.

What is the maximum I could borrow while receiving Centrelink payments?

If your income is a mix of work earnings and Centrelink payments, and we consider the loan affordable, you could potentially borrow up to $50,000 from Money31. If you are a first-time Money3 customer and more than half of all your income comes from Centrelink payments, then you will be limited to a maximum of $8,000.

Can previous customers borrow more with the majority of their income from Centrelink payments?

Yes, if you are a continuing or past Money3 customer, you could potentially borrow more than $8,000 even though most of your income is from Centrelink payments1. With that said, we will still need to carefully review your financial circumstances to ensure that the car loan will be affordable for you before it can be approved.

What will my repayments be?

Your regular repayments for the car loan will depend on how much you borrow and how long the loan term is. Use our car loan calculator to get an idea of what your repayments could be if approved for a loan.

What documentation or personal details do I need to apply?

Our simple application process means that all the info you need should be easily accessible. The basic information we require from you includes your address, contact details, and some details of your regular expenses (such as monthly bills). Confirming your driver’s license will speed up the process but is optional. As part of our obligations as a responsible lender, we also need to get 90 days of bank statements from you, which you can provide securely online in a few minutes.

Do I need to provide any collateral for the car loan?

No, you don’t need to provide any collateral. The vehicle you purchase will act as security for the loan.

Will a deposit be required?

No, you don’t need a deposit, but it can help you get a higher value vehicle when you combine it with your car loan pre-approval.

Can I purchase from a private seller?

Yes, we don’t place any restriction on where you find the vehicle. Private sales and dealerships are OK.

Can I combine my Centrelink payments with someone else in a joint loan?

Yes, with Money3, you could. We’ll look at the entirety of your financial circumstances to work out whether a car loan for your desired amount is affordable. We are adept at providing car loans and other types of finance to those with unique financial situations. Regardless of your credit score or source of income, we’ll give you a fair go1. Learn more about Pensioner Car Loans.

How is Money3 different from other lenders?

Money3 believes in a fair go for everyone who wants to apply for finance. We take a flexible approach to lending that enables us to provide loans to people that are typically refused finance by other lenders1. When they apply, we consider the entirety of a customer’s financial circumstances and won’t reject them solely because they receive government benefits or have a low credit score.

Money3 is a responsible lender regulated by ASIC. Our Australian Credit Licence is 389 782.

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