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    Default Who will provide car loan to unemployed single parent?

    Hey all! I have found myself in a pickle.. My partner left 4 months ago so I am now on Single Parent Pension but prior to this we always decided I could be a stay at home mum for the kids. So now I am still a stay at home single mum but my car is dying, very hastily and I need a new car.. My credit record is clear and my net income is ok as I do get a good amount of child support but I am struggling to find any Lender who will even look at me because I am on PSS and not employed!!! Can anyone point me in the right direction with recent tales of lenders approving unemployed single parent???? Please help me

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    SuperGranny is offline Worlds best grandma! Winner 2012 - Most Helpful Member
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    hi, keep trying with banks or credit unions,?? but dont go to Motor finance wizards. The car will be over priced and it will cost you a fortune. They get people in with the small repayments, but you will be making a very unwise move if you take a car from them. Do you have anyone who knows about cars who can help you look at secondhand cars??
    Marie.

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    I've heard of some charities offering low or no interest loans - mainly for needed household items like a fridge or washing machine, so probably not enough for a car, but it never hurts to ask.

    I would suggest ringing the Salvation Army or Red Cross. Even if they cannot help you, they might be able to refer you to someone who can.

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    Quote Originally Posted by sweetseven View Post
    I've heard of some charities offering low or no interest loans - mainly for needed household items like a fridge or washing machine, so probably not enough for a car, but it never hurts to ask.

    I would suggest ringing the Salvation Army or Red Cross. Even if they cannot help you, they might be able to refer you to someone who can.
    This is true. I'm currently getting a hand from Barnado's to buy a fridge. Price comparison is totally off between a fridge and car but you can always give it a go.

    Give centrelink a phone also and look into loans. They used to give 500 per year. Not sure if it's changed but it's still a bit to put towards a car

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    Steer clear of places like motor finance wizard and cash converters loans, in the long run they won't be worth it.

    Have you looked into getting a NAB StepUP loan ?
    Here is the link
    they should definitely be able to help you out

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    ANZ also offer loans for people on centrelink for a car they can offer up to 5k it is assesed on your current expenses and whether you can afford to service the loan, details at www.anz.com

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    Quote Originally Posted by alecsteva View Post
    Now-a-days it is not much difficult to get car loans even if you are unemployed because there are several private money lenders and financial institutions which make you available car loans for unemployed. If you search online you will find several such lenders. The application procedure is easily done online by filling simple online application form.
    Good advice for people living in the UK! not so good for people in Australia.

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    Maybe try commonwealth bank? I know my friend got a credit card approved by them recently with 2 kids on pps.... Don't know what they would offer for a carload but worth a try...

    Also, from memory, each time you put an application through, it goes on your credit history - regardless of if you were accepted/declined by the bank etc or if you declined there offer
    This happened to me when we got a credit card... So maybe keep that in mind? Goodluck!

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    Nab step up loan is great! Lowest interest rate, and you can pick how long to pay off I think the longest is 3 or 5 years. You can get up to $3000, you need the owner of the car to get a jp to sign a stat dec stating the car and price which is a pain but if you can get that they will look after you


 

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