Car Loans For Single Parent Pensioners With Bad Credit
Single parent pensioners with bad credit deserve a second chance at car loans. We partner with lenders who can make it happen.
Single parent pensioners with bad credit deserve a second chance at car loans. We partner with lenders who can make it happen.
Raising children on your own is a busy job. You’re darting between school drop-offs, after-hours sport and doctor’s visits. If you need a car to ferry your youngsters around, we know a bad credit car loan application has to be as speedy as possible.
Our expert consultants can have the wheels in motion on your application before school pick-up, even when receiving a pension. We guarantee accelerated service focused on getting you back to life’s important tasks and into the driver’s seat. Apply now and buy your next car sooner.
Our experienced consultants can have you approved within 24 hours of your application being submitted.
Your credit report won’t be affected by our quick credit check, so you don’t need to worry about your score changing.
We’ve been matching people to suitable lenders for more than a decade, turning their car ownership dreams into realities.
It doesn’t matter whether you’re working full-time, part-time, casually, on Centrelink or a combination of multiple; you can get approved.
Your past isn’t our lenders’ main concern, so being turned down by other financial institutions shouldn’t deter you from applying.
You can wrap up costs such as registration, insurance and stamp duty into your borrowing amount with some lenders, freeing up more funds.
You can make extra repayments or pay out your loan earlier than planned without incurring any fees or charges for doing so.
You get the choice of paying your loan across one to five years, enabling you to tailor your loan to suit your affordability.
If you’re a first-time borrower, we partner with lenders who can help kick-start your credit journey.
You’ll be given the option to apply after you complete your quick quote, but our consultant will call to talk through your options if you’re not sure.
Once you apply, your consultant will use high-tech software to pair you with a lender who is the best fit for your circumstances.
Your consultant will do the grunt work for you. They’ll prepare your application to ensure it meets your lender’s criteria.
Once you’re approved, your consultant will email across a digital loan agreement to sign. Upon return, your funds can be released.
You may wonder if the government benefit you collect is eligible to be included in your income test. While payments such as Youth Allowance or JobSeeker won’t count on their own, there are many ongoing, fixed subsidies that will apply to pensioners. Some of the options include:
Parenting payments
Eligible if you’re a single parent and the sole carer for a child under eight years old. This Centrelink payment can be factored in when assessing your affordability for a car loan. The payment is subject to income, residency and asset tests.
Carer payments
Carers of someone with a disability, aged or suffering a severe illness can have their benefit included in an income test. To be eligible for this payment, you need to show the person will need your care for more than six months.
Family Tax Benefits Part A or B
To receive benefits in Part A, you must be the primary carer of a child. aged under 19 who fulfills the relevant study requirements. Part B is tailored toward single parents with a child aged 18 or under who also meets the relevant study requirements.
Rent Assistance
The fortnightly amount you receive to help pay your rent can be included in your income test for a car loan. You must be collecting one of the above payments to be eligible.
Disability support
Those with a disability or medical condition who receive disability support can use their benefit as eligible income when applying for car loans.
Lenders let you make your repayments weekly, fortnightly or monthly to best fit in with how and when you’re paid. Scheduling repayments in line with your pay cycle will mean you are unlikely to miss due dates and fall behind.
Reducing unnecessary spending is important before you’re approved, but it’s also vital you keep saving after you have your car. Being able to save a bit from each pay cycle will let you breathe easier when it comes to making your repayments. Simple things like cancelling unwanted subscriptions, walking to the office and packing lunch for work can help you save money.
If you’re putting some money away, it’s a good idea to pay a bit extra onto your loan. Most lenders won’t charge fees for making extra repayments and it’s an easy way to pay off your loan sooner.
We understand money’s tight on one income as a single parent, so if you’ve just taken out car finance, sticking to a budget will help you manage your repayments with ease.