Car Loans for Pensioners

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If you’re receiving the pension it can be difficult gaining a car loan, but that shouldn’t mean you miss out on necessary transportation. We help pensioners receiving Centrelink gain suitable car loans to meet their needs and budget.

We’ve provided some facts on car loans for pensioners to help you when deciding on a car loan.


Most financiers use basic affordability guides when assessing loans and access either the Henderson Poverty Index (HPI) or Household Expenditure Measure (HEM) to establish average monthly expenditure. Lenders will also take into consideration additional expenses such as rent, credit cards and existing loans to establish a suitable affordability level based on your income. Although these are a guide, you do need to take into consideration your own spending habits and any additional expenses to make sure you can afford a new commitment.

Be Realistic

Taking into consideration lenders guidelines when assessing affordability, rather than have the disapointment of not getting the car you want, it can be more beneficial to gain a pre-purchase loan so you know how much you can borrow and repayments before choosing a car.  

Supporting Documents

Lenders need to verify your current financial situation and will generally ask for proof of income and bank statement history. Ensure you meet the lenders credit criteria by providing supporting documents to assist with your application.

  • Current Centrelink Income Statement
  • 3 Months Bank Statements
  • Proof of Identity (Photo ID)
  • Rental Ledger, Mortgage Statement of Board Letter


Having a default can make your application for a car loan more difficult with some lenders, however by helping the lender understand the reasons behind why the default happened will only help your application progress further. Be honest with your application and don’t let pride get in the way as lenders will check the accuracy of the information given to them. 

Read the Fine Print

Always check the loan contract before signing and ask questions. You’re about to enter into a payment agreement with a lender for a minimum of 12 months, so you need to make sure you understand your obligations. A low rate loan doesn’t always mean a cheaper loan as some lenders impose high establishment fees and exclusive purchase arrangements with some dealerships.

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Car Finance on Centrelink

iCREDIT Car Loans helps people on Centrelink obtain credit for car purchases.

Flexible Terms

Car Loans from $2000 with flexible loan terms.



We’ve helped people with paid or unpaid defaults, discharged bankruptcy, too many enquiries on their credit file.

It's Your Choice

You’re in control. Once approved, you find the car. Buy from either private or through a dealer Nationwide.