Bad Credit Car Loans
We could help you with a bad credit car loan. Get your second chance car loan with the help of Rapid Finance.
We could help get your application for a car loan on a pension approved1, quickly and easily - with no extra marks on your credit file!
For personal loans up to $60,000, see Centrelink loans.
* Rapid Finance is not affiliated with Services Australia/ Centrelink, but may be able to assist those in receipt of Centrelink benefits.
1 - Approval is subject to an applicant's overall profile. Your application will undergo a credit check, but only at the final stage, if we have found a lender looking to accept your application.
Pensioner car loans are designed specifically to help pension recipients from Centrelink to obtain finance for purchasing a vehicle in Australia. These loans usually cover Centrelink payments, such as the Age Pension, Carer's Pension or Disability Pension (DSP), who may face challenges qualifying for standard car loans due to their income source.
Flexible Eligibility Criteria: Lenders offering pensioner car loans often take into account various forms of income, including Centrelink payments, making it easier for pensioners to qualify.
Loan Amount and Terms: The loan amount can vary based on the borrower’s financial situation, but generally, it is aimed at making car ownership affordable. Terms can range from 2 years up to 7 years, with options for low monthly repayments.
Centrelink Considerations: Many specialist lenders take into account Centrelink benefits as part of the borrower’s income. However, it's essential that the applicant can demonstrate their ability to manage the loan repayments without financial strain.
* Rapid Finance is not affiliated with Services Australia/ Centrelink, but may be able to assist those in receipt of Centrelink benefits.
Check your eligibility. See our basic qualifying asset finance criteria below¹
This table outlines the typical costs and charges for asset finance arranged through Rapid Finance, including cars, motorbikes, caravans and selected equipment. There are no upfront fees to enquire or apply, with costs only applying once you accept the loan terms and agree to proceed. All applicable fees are clearly disclosed in advance, so you can make an informed decision before moving forward.
| Description | Typical Cost* | When It Applies |
|---|---|---|
| Rapid Finance Costs & Charges | ||
| Financial Assessment | Free | Enquiry |
| Credit Check Review | Free | Enquiry |
| Assessment of Supporting Documents | Free | Enquiry |
| Broker Fee | Variable | On settlement |
| Origination Fee | Variable | On settlement |
| Lender Costs & Charges | ||
| Lender Application Fee | $295 – $995 | Added to the loan |
| Risk Fee | Variable (up to 10% of loan amount) | Added to the loan |
| Monthly Account Fee | $10 – $30 | Monthly |
*Typical costs vary depending on lender, loan amount, asset type, and your individual circumstances.
All fees and charges are valid as at 25/01/2026 and subject to change
While every effort is made to be as accurate as possible, there are a lot of factors involved due to the number of lenders on our panel. We will provide the applicant with a detailed quote and credit proposal disclosure on their individual circumstances before providing credit assistance
Getting a car loan while on a pension may be easier than you may think. At Rapid Finance, we understand that everyone’s financial situation is different, and we specialise in finding the right finance solutions for people who may not qualify with mainstream lenders, including pensioners.
Here’s how you could get a car loan on a pension:
Check Your Eligibility
Pensioners receiving the Age Pension, Disability Support Pension (DSP), Family Tax Benefits, or Carer's Pension are eligible to apply for pensioner car loans. Make sure your weekly income, including benefits, is over $700, and you have a stable recent financial history such as no unpaid defaults and fewer than five recent dishonours.
Improve Your Chances
Saving for a deposit, providing additional proof of income (like part-time work), and improving your credit score could all boost your application. Rapid Finance could assist you with a free credit check and help you improve your credit profile over time.
Apply Online
Start by completing our "Free Financial Assessment" form at the top of this page. It only takes a few minutes, and our team will review your application to find the most suitable loan option for you. Once your application has completed, and we have any necessary documents, you can expect an approval decision within 24 to 48 hours.
Personalised Support
At Rapid Finance, we offer a personal and tailored service. We work with a number of specialist lenders, who will consider payments from pensions as income. Our finance professionals could work with you every step of the way - from providing feedback to help you improve your credit score (if necessary) to finding the right loan and negotiating the loan terms to suit you better.
Ready to get started? Whether you need a car for independence or convenience, we’re here to help. Complete the form above today, and let us assist you in getting behind the wheel, even while on a pension.
Yes, it is possible for pensioners to qualify for car loans in Australia. Lenders, including finance brokers like Rapid Finance, consider pension income, other sources of income, and other factors when assessing eligibility.
Yes, the Age Pension is considered as income by some specialist lenders when applying for a car loan. Lenders assess pension payments along with other income sources to determine how much you could borrow.
Yes, you could apply for a car loan if you receive the Disability Support Pension (DSP). Rapid Finance could help assess your eligibility based on your DSP and any other income sources.
You may be able to get a car loan if you receive eligible Centrelink payments such as the Age Pension, Disability Pension, Family Tax Benefits, or Carer's Pension. Some benefits, like Youth Allowance or JobSeeker Payment, are not accepted.
See our Centrelink Car Loans page to see what benefits are accepted.
Yes, pensioners could still qualify for car finance with bad credit. Rapid Finance specialises in finding lenders who are willing to work with customers who have bad credit histories, tailoring loans to meet their needs.
Improving your credit score, saving for a deposit, providing a guarantor, or consolidating your debts may all help improve your chances of getting a car loan. Rapid Finance could also assist you by assessing your financial situation and finding suitable loan options. We have access to a specialist panel of lenders, who will consider applicants on a pension.
See our bad credit car loan approval tips article, which goes into detail of what is required.
The amount you could finance will depend on your income, including pension payments, your credit history, your expenses and other factors. Typically, car loans are available from $10,000 up to $200,000, depending on your financial situation and affordability.
While a deposit is not always required, it could increase your chances of approval and reduce the amount you need to borrow. It may also help secure lower interest rates and reduce your loan term. See our no deposit car loans page for details.
At Rapid Finance, the approval process usually takes 24 to 48 hours once all necessary documents have been provided and verified. The timeframe can vary depending on the completeness of your application, your needs and your financial circumstances.
You can use our car loan repayment calculator to estimate your monthly repayments. The amount will dynamically update, based on the loan amount, term, and interest rate selected.
No, applying for finance with Rapid Finance will not affect your credit score directly. Rapid Finance is able to view your credit report, without a 'hard' mark being left on the report. Only when a suitable lender and loan product have been found, and you have chosen to go ahead, will the lender make a full enquiry with your credit report.
It is important to limit the number of hard enquiries made on your credit report, as too many in a short space of time could be seen negatively by lenders. You can limit the number of hard enquiries by using a broker, such as Rapid Finance.
If you are having trouble making car loan payments, it's important to contact Rapid Finance or your lender as soon as possible. There may be options to adjust your repayment plan or seek financial hardship assistance to help you manage the situation.
* Rapid Finance is not affiliated with Services Australia/ Centrelink, but may be able to assist those in receipt of Centrelink benefits.
We could help you with a bad credit car loan. Get your second chance car loan with the help of Rapid Finance.
Getting a car loan on Centrelink may be easier than you think. We could help get your car loan approved.
So how do you go about obtaining car finance to remedy your circumstance if you’re on Centrelink? Where there’s a will, there’s a way.