Car Loan Eligibility. Do You Qualify?
Wondering if you can get a car loan? Every lender has different criteria. We compare 50+ lenders to find ones that match YOUR situation, income, credit history, employment type, and more.
Why choose Simple Loans.
All Income Types
Full-time, part-time, casual, self-employed, contractor, pension, we have lenders for all.
All Credit Histories
Good credit, fair credit, bad credit, or no credit history, options available.
Free Eligibility Check
No cost, no obligation assessment of your eligibility.
No Impact on Credit Score
Our initial assessment doesn't affect your credit file.
50+ Lenders
Different criteria across 50+ lenders means more chances of approval.
Honest Assessment
We tell you upfront what your options are, no false promises.
Understanding Car Loan Eligibility in Australia
Car loan eligibility varies significantly between lenders, which is why using a finance comparison tool like Simple Loans gives you the best chance of approval. While banks may have strict criteria around credit scores and employment type, specialist lenders take a more holistic view of your financial situation.
Key factors that affect your car loan eligibility include your income level and stability, credit history and score, employment type and duration, existing debts and commitments, the vehicle you want to finance, and your deposit amount. We assess all these factors and match you with the lender most likely to approve your application at the best possible rate.
How it works.
Apply Online in 60 Seconds
Fill out our simple online form, no paperwork, no obligations, and zero upfront fees.
We Compare 50+ Lenders
Our finance comparison tools search our panel of banks and specialist lenders to find the best rate for your situation.
Drive Away Happy
Once approved, funds are settled fast, often same day. You drive away with finance sorted.
Frequently asked questions.
What do I need to be eligible for a car loan?
Basic eligibility requirements include: being 18+ years old, Australian citizen or permanent resident (some lenders accept temporary residents), have regular income from employment or other sources, and have a reasonable credit history. However, different lenders have different criteria, we find the right match.
Can I get a car loan with bad credit?
Yes! We have specialist lenders who work with all credit types including defaults, judgements, Part IX agreements, and even discharged bankruptcies. Your current income and circumstances matter more than past credit issues.
What income do I need for a car loan?
There's no universal minimum income for car loans. It depends on the loan amount and your expenses. As a rough guide, most lenders want your repayments to be less than 15-20% of your net income. We assess your full financial picture.
Does checking eligibility affect my credit score?
No! Our initial eligibility assessment is an informal process that does not appear on your credit file. A formal credit check only occurs when we submit your application to a specific lender, and we always get your consent first.
Ready to get started.
Free assessment, no upfront costs. We compare 50+ lenders to find you the best deal.
People we also help
Simple Loans is a finance comparison tool. Holder of Australian Credit Licence No. 509582. All applications are subject to lender approval. Terms, conditions, fees and charges apply. This information is general in nature.