How to Get a Car Loan on Centrelink Payments
Being on Centrelink benefits can be stressful at the best of times. There’s the countless phone calls, hours on hold, and regular reporting to deal with. The pressure is on to be 100% accurate with everything you tell them; otherwise you can find yourself slapped with a debt to pay off and the possibility of having your payments cut off.
Living off what is often a minimum payment can feel next to impossible, and for those already living pay to pay, finding the extra cash to put aside to save up for bigger expenses is just not feasible. This means large items like vehicles are completely out of the picture, which can be a problem for people with no other mode of transportation – especially since so many employers look for workers who have a reliable means of getting around. And, of course, the more difficult it is to get a job, the longer you have to live off Centrelink… it’s a vicious cycle.
So what’s the answer? Here are some tips on how to get a car loan on Centrelink payments.
Try to Pay off Any Debts
It’s tricky finding extra money when you already live on next to nothing. If it’s at all possible, though, try to dig that little bit deeper and pay off any existing debts as quickly as you can. Look into consolidating your debt if you have multiple lines of credit, and really make an effort to get rid of it! Making sure your finances are up to date is a great move – it’s one of the key pre-application steps to take. Approaching lenders debt-free is a great position to be in. Discover the other important factors in this process by reading our page about Centrelink Car Loans.
Obtain Positive Payment Documentation
Did you pay off a debt in a timely manner? Do you have a ledger showing your regular, on-time payments? Obtaining all the positive documentation possible can be a great way to encourage lenders that you are a solid candidate for a car loan.
Find a Specialist Company to Help You Out
This is the real key to making it happen. Some institutions won’t look at people on Centrelink payments. But then there are companies like Zoom Car Loans that understand being on Centrelink doesn’t mean you are unable to pay off debts on time. When you choose a specialist like us, you will often be able to obtain a loan quickly and easily thanks to our vast network of leading finance providers. We process car loans for people on Centrelink all the time, so it is worth looking into our application process.
Hopefully this has helped you learn a bit more about how to get a car loan on Centrelink payments. Enquire or apply now and you could be buckling your seatbelt in no time!