Car loan guide for pensioners in australia
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Car Loan Guide for Pensioners in Australia - PowerPoint PPT Presentation

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If ever you are wondering whether you can apply for a car loan if you are receiving Centerlink payment, this presentation in the answer.\n\n1800 Approved Finance Solutions\n33 Ereton Dr.\nArundel, QLD 4214\n

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Car loan guide for pensioners in australia

Car Loan Guide for Pensioners in Australia

Jane Clothier| Author

1800 Approved Finance Solutions

33 Ereton Dr.

Arundel, QLD 4214



Many citizens receiving Centrelink payments are asking whether they can get approved for a car loan or not.

The answer is YES!

The rules are a little stricter but customised finance solutions are sought in order to find the best fit for each customer and situation.

Identify the type of pension or centrelink payment b eing r eceived
Identify the Type of Pension or CentrelinkPayment Being Received

Here are some Centrelink payments that qualify for a car loan. These may vary from lender to lender so the best way is to ask whether you qualify or not.

  • Disability Support Pension.

  • Carers Pension.

  • Partnered Parenting Payment.

  • Family Tax A and B.

  • Aged Pension.

Things that might a ffect the outcome of a pensioner c ar l oan
Things that Might Affect the Outcome of a Pensioner Car Loan

It is the lenders legal responsibility to make sure that you are financially capable to make the repayments and still able to manage your finances after the car loan is approved.

  • Pension amount plus any other income received.

  • Credit history. 

  • Existing loans being paid off.

  • Savings in the bank.

Documents needed
Documents Needed

Requirements will depend on your situation so it is best to speak with a finance broker in order to assess your needs and financial capability.

  • Driver’s license if applicable.

  • Centrelinkpayment statement.

  • Income statement from other income if applicable.

  • Expenses.

  • Liabilities.

Tips to getting approved
Tips to Getting Approved

Check your credit score – It is good to know where you stand before starting the car loan application process. If you credit score is in the low side, work on a better score before applying for a loan. This will increase your chances of getting approved.

Tips to getting approved1
Tips to Getting Approved

Manage your existing debt– The best thing to do is to reduce and consolidate so your debts are manageable.

Budget wisely – If you are able to live within your means and still manage to save some money in the bank, this will prove how healthy you are financially and how well you manage your money. This is a big plus and will play a huge role in getting approved.

Final thoughts
Final Thoughts

It is always good to educate yourself and make yourself financially and emotionally ready before making huge decisions and that includes applying for a car loan.

There are no guarantees that you will get approved but making sure your finances are on point increases your chances a hundred fold.

Professional assistance
Professional Assistance

1800 Approved Finance Solutions

33 Ereton Dr.

Arundel, QLD 4214


At 1800Approved, we'd love to help you with your new or used car purchase. We have been awarded Australia's Asset Broker of the Year for 2016 and have helped thousands of individuals and businesses finance cars and equipment. Contact us for a free assessment. No obligation.