Car Loans for Unemployed
Unemployed and in need of a car to get from A to B? Get a quick quote today and find out if you’re eligible here.
Unemployed and in need of a car to get from A to B? Get a quick quote today and find out if you’re eligible here.
If you’re unemployed, you’re not alone, as more than 200,000 Australians are in between jobs, according to ABS figures released in 2022. This can be tough in itself, but it can be even harder to travel to do your shopping or get to interviews when you don’t own a car.
That’s why we’re here to help. You can apply for car finance if you’re unemployed and our consultants can match your application to a partner lender who’ll give you the best chance at approval.
Apply with us today and you could be approved and fully funded in as little as two days.
Our fast and efficient turnaround times mean we can have you approved within just one business day.
Our online application process means you can apply from a computer or smartphone, making your next car just a few clicks away.
Our consultants provide a first-class, personalised service from the moment you get a quote to the second you get your funds.
Finance the full value of your new car with loans starting from $5,000 with the ability to roll on-road costs in and not pay a deposit.
Ongoing government benefits, such as disability and aged pensions, can be factored as income when going for a car loan.
Even if you have no credit history whatsoever, we can help you break into the borrowing market with flexible specialist lenders.
You can purchase brand-new or second-hand vehicles privately or through a car dealership anywhere in the country with a loan.
It’s up to you how long you take to pay off your loan, with term options of between one and five years available.
If you’ve been knocked down by the big banks, we’ll help you get back up again by matching you to a second-chance lending partner.
Take a few minutes to get a free quote via our website. Tell us a bit about yourself and the loan you need and we can get a consultant to call you.
If you want to dive right in and apply, your consultant uses state-of-the-art technology to match you with a lender best suited to your situation.
With a lender locked in, your consultant prepares the application on your behalf to give you the best shot at approval for the loan you want.
Your consultant will call once you’re approved and email paperwork for you to sign. Once returned, your funds can be released to you or your seller.
Applying for car finance when you’re unemployed comes with several requirements. The general requirements include being:
You can count income from various streams, as long as it’s constant and fixed. This includes earning interest accrued on investments, such as shares or property, or collecting ongoing government benefits. A range of Centrelink benefits count as income, including:
Some Centrelink payments won’t count on their own, but can only be included if they supplement a low income. These include:
When you’re unemployed, it’s easier to get approved for a car loan if you’re willing to pay a deposit. Putting some of your own savings toward the loan reduces the risk the lender takes when letting you borrow money.
Lenders want to see you are doing your best to resolve past financial mistakes, even if your credit rating isn’t the best. Clearing unpaid defaults or entering into payment arrangements for outstanding balances will put you in a better position.
If you’re unemployed and need a car, it’s best to borrow within your means. You’re more likely to hit a green light if a lender can see you can comfortably afford the regular repayments on the income you receive, so you should always apply within your means.
Long-term living arrangements can play a role in your loan being approved. Having deep roots in a property means you’re unlikely to be moving regularly, which means your rent and utility costs will largely remain the same. This is important to lenders, who look at all aspects of your finances to ensure you can afford the repayments consistently over your term.