Car Loans For Single Mothers On Centrelink With Bad Credit
Being a single mum is a busy job. Our bad credit car loan process is fuss-free so you can save on valuable time. Apply today.
Being a single mum is a busy job. Our bad credit car loan process is fuss-free so you can save on valuable time. Apply today.
If you’re a single mother, we understand managing children, school runs and a job on your own can be a daily struggle. Juggling these without a car can also leave you time poor. That’s where we step in.
We help you get a second chance at finance with bad credit car loans starting from $5,000. Our highly efficient consultants can find a lender who best suits your unique circumstances, especially if you’re on Centrelink. Start saving time and apply today.
Our skilled consultants prepare your application for you to save you time filling out paperwork.
Submitting an obligation-free quote online takes just minutes and won’t affect your credit rating.
Our 100% online process means you can apply whether you live in a big city or a remote regional area.
You can borrow the full price of your car with no need for a hefty upfront deposit, with some of its on-road costs able to be included in some cases also.
Recipients of ongoing government benefits, such as carers or single parent pensioners, are eligible.
If you’ve been working casually for the same employer for more than three months, you’re eligible to apply for car financing with us.
You’re able to purchase brand-new or second-hand vehicles, giving you plenty of options when looking for your new car.
Our lenders let you pay across one to five years, allowing you to pick a term and repayments which best fit what you can afford.
Locking in your repayment amounts can help you budget more accurately over your loan term, adding financial stability overall.
Submitting a free quote gets you in touch with our consultant. If you’ve already decided to apply, they get to work on the application straight away.
Once you apply, your consultant uses our high-tech software to match your application to a suitable lender and confirms it with you before proceeding.
Your consultant prepares your application using information from your initial enquiry. They’ll also request supporting documents from you.
They’ll confirm your approval when received and email you paperwork to sign electronically. Upon its return, your funds can be released.
Your borrowing power will be determined by several factors including:
Your car’s value
The market value of the car you want to buy will determine how much a lender is willing to loan you. The vehicle will act as security for your loan and lenders won’t approve you for more than its purchase price beyond including certain on-road costs in some cases.
Your income
The more you earn, the more you’ll generally be eligible to borrow. Your consultant will run an affordability check taking into account all income streams. For single parent pensioners, their Centrelink payments can be included in their income.
Your expenses
Lenders look at ongoing expenses such as groceries and school or child care fees to see what disposable income is left to cover repayments. Reducing your outgoings can unlock access to a larger borrowing amount.
Your deposit
Saving up a deposit can strengthen your borrowing power and demonstrate you have a proven savings track record. Building up a lump sum over a period of six months will also show lenders you are less of a risk, as you’re capable of practicing financial discipline.
Your existing debt and credit cards
Reducing the limits on any credit cards can improve your borrowing power by simply reducing your outstanding available credit. Paying off or even reducing your outstanding debts is another way to boost your borrowing power.
Staying with the same employer for a sustained period will improve your chances of approval. Having steady work shows lenders your income is less likely to fluctuate.
Having a permanent, long-term residence gives lenders certainty over costs such as rent and electricity. A history of short-term accommodation can create uncertainty with lenders, giving them the impression you’re a higher-risk borrower.
Paying off debt is one way of improving your odds of approval. While getting approved for these loans won’t hang on a credit check, showing you are paying defaults or entering into payment arrangements will help show your lender that you’re dedicated to improving your situation.
Being able to demonstrate a strong savings history, and be willing to put down a deposit, will increase your chances of being approved. A solid track record of savings, across six to nine months, will reduce your risk profile and show you’re a steady financial operator.