Money3 may be able to help you out with car finance when others can't.
If you are receiving a Centrelink pension, you could be eligible1 to get a car loan with Money3. Our car loans go up to $75,000 and that could be for any vehicle from a motorbike, truck or car to a motorboat or caravan - check out some of the vehicle options below.
Starting the application process is easy, just select the kind of car loan you are looking for and give us a few details. Our friendly team will get back to you as soon as possible.
1. Subject to verification, suitability and affordability
2. Car loans up to $75,000 with Centrelink income less than 50% of your total income.
3. The maximum car loan with 100% of your income from Centrelink is $10,000 for first time customers.
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Your pension counts as a source of income, so the amount you receive can contribute to making loan repayments on a car loan. At Money3, we believe in giving everyone a fair go at securing car finance and will look at your financial situation in its entirety.
Even if you have a poor credit history or have had difficulty making loan repayments in the past, we will still consider your loan application for car finance1. Apply today to start the application process and for loan pre-approval and secure your new or used car.
Getting your loan approved1 on a pension may be easier than you think with Money3. As long as you meet our basic criteria and we are happy that the loan is suitable and affordable for you, then we will work with you to get your car (or another vehicle) loan approved as soon as possible.
Some of the pension types we will consider include1:
1. Subject to verification, suitability and affordability
2. Car loans up to $75,000 with Centrelink income less than 50% of your total income.
3. The maximum car loan with 100% of your income from Centrelink is $10,000 for first time customers.
Applying for a car loan with Money3 is a transparent and straightforward process. We'd like to see you driving away with your new car as soon as possible, and we'll happily consider your loan application even if you're on an aged pension, disability support pension, have a bad credit history, or have other circumstances that might cause other lenders not to lend to you.
If you already have a car or other vehicle in mind or are looking to get pre-approved, so you know how much you could borrow first, we'd like to help. With pre-approval for a car loan in hand, you can shop with confidence, knowing what type of vehicle you can afford.
Your loan pre-approval offer is subject to final approval once you have found your new vehicle. If you are on a pension, as long as your income totals $2,0801 a month or more, that you are an Australian resident, then you are likely to qualify1.
You must:
Get started by completing the short form above. Tell us a little about yourself and we'll take it from there and we can give you a call back or you can continue your application, giving us all the information we need to assess your loan pre-approval.
1. Subject to verification, suitability and affordability
2. Car loans up to $75,000 with Centrelink income less than 50% of your total income.
3. The maximum car loan with 100% of your income from Centrelink is $10,000 for first time customers.
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,909 | $6,909 |
| Platinum secured personal loan for 24 months at 13.95% APR & 34.16% Comparison Rate | ||
| $10,000 | $6,925 | $16,925 |
| Platinum secured personal loan for 48 months at 13.95% APR & 29.11% Comparison Rate | ||
| $25,000 | $14,850 | $39,850 |
| Platinum secured personal loan for 60 months at 13.95% APR & 20.38% Comparison Rate | ||
| $50,000 | $30,285 | $80,285 |
| Platinum secured personal loan for 72 months at 13.95% APR & 17.23% Comparison Rate | ||
| $75,000 | $42,219 | $117,219 |
| Platinum secured personal loan for 72 months at 13.95% APR & 16.15% Comparison Rate | ||
|
EXAMPLE: A platinum secured personal loan of $5,000 for 24 months has fees and charges totalling $1,935.15 and a total repayment of $6,935.15. The Minimum loan term is 24 months and the Maximum term 24 months. The loan term will be 24 months, 52 fortnights or 104 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 34.58%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,850.43 and a total repayment of $39,850.43. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 20.38%. 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. Australian Credit Licence 389 067 |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,313 | $7,313 |
| Silver secured personal loan for 24 months at 19.95% APR & 40.63% Comparison Rate | ||
| $10,000 | $8,676 | $18,676 |
| Silver secured personal loan for 48 months at 19.95% APR & 35.35% Comparison Rate | ||
| $25,000 | $20,883 | $45,883 |
| Silver secured personal loan for 60 months at 19.95% APR & 27.39% Comparison Rate | ||
| $50,000 | $42,963 | $92,963 |
| Silver secured personal loan for 72 months at 19.95% APR & 23.32% Comparison Rate | ||
|
EXAMPLE: A silver secured personal loan of $5,000 for 24 months has fees and charges totalling $2,313.37 and a total repayment of $7,313.37. The Minimum loan term is 24 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 $5,000 over two years, is 40.63%.
EXAMPLE: A silver secured personal loan of $25,000 for 60 months has fees and charges totalling $20,883.12 and a total repayment of $45,883.12. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 27.39%. 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. Australian Credit Licence 389 067 |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,661 | $7,661 |
| Bronze secured personal loan for 24 months at 24.95% APR & 46.04% Comparison Rate | ||
| $10,000 | $10,216 | $20,216 |
| Bronze secured personal loan for 48 months at 24.95% APR & 40.60% Comparison Rate | ||
| $25,000 | $25,625 | $50,625 |
| Bronze secured personal loan for 60 months at 24.95% APR & 32.59% Comparison Rate | ||
| $40,000 | $44,982 | $84,982 |
| Bronze secured personal loan for 72 months at 24.95% APR & 29.27% Comparison Rate | ||
|
EXAMPLE: A bronze secured personal loan of $5,000 for 24 months has fees and charges totalling $2,660.80 and a total repayment of $7,661.80. The Minimum loan term is 24 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 24.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 46.04%.
EXAMPLE: A bronze secured personal loan of $25,000 for 24 months has fees and charges totalling $25,625.34 and a total repayment of $50,625.34. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 24.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 32.59%. 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. Australian Credit Licence 389 067 |
||
Applying for a car loan with Money3 is a transparent and stress-free process from beginning to end.
At Money3, we don't burden our customers with any hidden fees or charges - every part of your car loan will be presented clearly for you to review before you agree. Our car loans for pensioners offer a flexible payment structure so that you can manage your loan repayments with ease.
Our secured car loans offer a competitive interest rate for loan amounts ranging between $2000 and $75,000. With low ongoing fees and flexible loan terms, Money3 gives you an affordable way to finance your new vehicle.
1. Subject to verification, suitability and affordability
2. Car loans up to $75,000 with Centrelink income less than 50% of your total income.
3. The maximum car loan with 100% of your income from Centrelink is $10,000 for first time customers.
Yes, there are options for car loans for pensioners, such as getting a pensioner car loan from Money3. While many banks and lenders won't consider loan applications from pensioners, Money3 will give you a fair go to secure an affordable car loan1.
Centrelink won't directly help you secure a pensioner car loan, and some lenders may not approve your loan application if you are on a Centrelink pension. Money3 will consider car loans for pensioners who are receiving Centrelink payments1.
Not all applications get credit checked, but if your application looks good, we will check your credit score before giving you pre-approval for a car loan. This may cause an enquiry to be noted in your credit report.
Your car loan from Money3 will have a fixed rate rather than a variable interest rate. Although the rate won't decrease over the life of the loan, it also won't increase. Fixed interest rates allow you predict exactly how much the loan will cost.
The amount that a pensioner can borrow will vary depending on their overall income and expenses. The loan amounts that pensioners can apply for are determined by their borrowing power and the policies of the lender they choose to engage.
With Money3, pensioners could borrow up to $75,000 as long as they meet our eligibility criteria1, and we can ensure the loan is affordable for them. As a responsible lender, Money3 will only give pre-approval to a car loan we know that our customers are able to afford.
Money3 is a responsible lender regulated by ASIC. Our Australian Credit Licence is 389 067.With a car loan from Money3, there's no age limit on the type of car you purchase. However, there is a maximum km limit of 300,000. The km limit does not apply to diesel vehicles.
Money3 could provide you with a pensioner car loan if you are receiving Centrelink benefits1. Start the application process and enter your details so we can determine what type of pensioner car loan is suitable for you.
Yes, you can pay back your loan early if you wish, and there is no additional cost for doing so.
At Money3, we know that money trouble never waits for a convenient time to occur and that it can leave you caught out when it comes to making repayments. If you know you won't be able to make your regular payment on time, please contact our team on 1300 014 870, email us at customercare@money3.com.au or see our Member Support page to complete our contact form or learn more.
1. Subject to verification, suitability and affordability
2. Car loans up to $75,000 with Centrelink income less than 50% of your total income.
3. The maximum car loan with 100% of your income from Centrelink is $10,000 for first time customers.
Customers who have viewed this page and shown an interest in pensioner car loans, have also visited the following pages:
Vehicle FinanceNew Car LoansUsed Car LoansSingle Parent Car LoansCar Loans on CentrelinkBad Credit Car LoansSecond Chance Car LoansSingle Parent Loans
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Call us on 1300 014 870.
