LETS BRIEF YOU ON PRE-APPROVAL

PRE-APPROVAL CHECKLIST

Below is a guide on how to qualify for pre-approval before you land

YOU MUST:

Be a New Zealand citizen

Only New Zealand passport holders are eligible for this finance option. If you are on a visa CLICK HERE for your pathway to approval.

Have a work contract ready to go in Australia (or already be working in AUS)

Proof of employment ensures stable income for your loan repayments.

Not have poor credit

Applicants with strong credit histories are more likely to be approved.

Be prepared to place a 10-20% deposit

A deposit reduces lender risk and improves your loan approval changes.

YOU MAY:

Be a home owner in NZ (This could waive the deposit requirement)

Have had good credit on a past car / home loan

Positive credit history demonstrates reliability and strengthens your application profile.

What Are the Eligibility Requirements for Kiwis to Get Car Finance in Australia?

Kiwis looking to secure car finance in Australia can navigate a unique set of eligibility requirements. While the process is generally accessible, certain criteria must be met to ensure a smooth application.

Visa Status

New Zealand citizens typically hold a Special Category Visa (subclass 444), which allows them to live and work in Australia indefinitely. This visa is crucial for accessing financial products like car loans. Lenders usually require proof of this visa status, so it’s important to have relevant documentation ready.

Income Verification

Kiwis must demonstrate a stable income to qualify for car finance. Lenders often ask for recent payslips or bank statements to confirm your earning capacity. Self-employed individuals may need to provide additional documentation, such as tax returns or business financial statements.

Credit History

While some lenders may consider applicants with limited or no credit history, having a solid credit score can significantly enhance your chances of approval. Lenders will typically check your credit report to assess your financial behavior and repayment history. If you're new to Australia, consider obtaining a credit report to understand where you stand.

Residency Proof

While a Special Category Visa allows Kiwis to live and work in Australia, some lenders may also ask for proof of residency, such as utility bills or lease agreements, to confirm your current address.

The Broker Advantage

Navigating the car finance landscape can be complex, especially for newcomers. This is where engaging a finance broker can be invaluable. Brokers have extensive knowledge of various lenders and can help you find the best options tailored to your financial situation. They can streamline the application process, manage paperwork, and negotiate terms on your behalf.

Conclusion

Kiwis can access car finance in Australia by meeting specific eligibility requirements, including visa status, income verification, credit history, and residency proof. To simplify the process and improve your chances of approval, consider consulting a broker for expert guidance.

 

DISCLAIMER

The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.

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All Your Questions Answered

What is a car loan and how does it work?

A car loan is a finance product where a lender provides funds for you to purchase a vehicle, which you repay over time with interest.

What’s the difference between secured and unsecured car loans?

Secured loans use the car as collateral, often leading to lower interest rates. Unsecured loans don’t, but usually have higher rates.

What loan terms are available for car finance?

Most car loans offer terms from 3 to 7 years. Find out what term suits you best.

How is interest calculated on a car loan?

Interest is based on the loan amount, term, and rate. Fixed-rate loans have predictable repayments, while variable rates can change.

Can I get a car loan for a private sale?

Yes, many lenders accept private sellers. You’ll need to provide extra documents.

Do government employees get lower interest rates on car loans?

Yes — many lenders offer better rates due to your stable income. Explore finance options for government employees.

Can I apply for a car loan while on probation?

Yes. Many workers are approved during probation.

What credit score do I need as a government employee?

A score of 650+ is ideal, but lower scores may still be considered.

Are corporate professionals eligible for low-rate finance?

Yes, especially if you're full-time with strong income.

Can I get car finance with a novated lease?

Yes, many government departments support novated leasing.

Can I get a car loan with no credit history?

Yes, it's still possible to get a car loan with no credit history.

What if I’ve been declined elsewhere?

A broker can help restructure your application for better results.

How do I check my credit score?

Use Equifax, Experian, or Illion for a free check.

Can I get finance if I have a current personal loan?

Yes, if your income supports both loans. A broker will assess your capacity.

What documents do I need to apply?

Typically: ID, payslips, and bank statements.

Can casual workers get car loans?

Yes, if you’ve worked consistently for 6+ months.

Can I apply if I’m self-employed with an ABN?

Yes. Consider a low-doc loan.

Can Centrelink be used as income?

Yes, when paired with PAYG income.

What’s the minimum income to qualify for car finance?

Most lenders prefer $30,000+ annually, but this varies.

Can I apply on a fixed-term contract?

Yes, especially if it’s government-backed.

Can I finance a used car?

Yes, most lenders allow used cars under 10 years old.

Can I get a loan for an SUV or family car?

Absolutely

Can I finance a caravan or motorbike?

Yes

Can I finance an EV or hybrid car?

Yes. You may even qualify for green car loan discounts.

Can I use my car for both work and personal use?

Yes you can.

What is a balloon payment?

It’s a lump sum due at the end of the loan term.

Can I make extra repayments?

Yes, many lenders allow this without penalty.

Can I pay off the loan early?

Yes — ask if there’s an early payout fee.

Is there a deposit required?

Not always.

What loan terms are available?

1 to 7 years is standard.

How long does approval take?

24–48 hours in most cases

Can I apply online?

Yes — most lenders and brokers accept online applications.

Is a broker better than going direct?

Often, yes. They can compare lenders for you.

Can I get pre-approved?

Yes — and it gives you better negotiating power at the dealership.

What happens after I apply?

Your documents are reviewed, and if approved, the lender issues funds to the seller.

Can I get a loan with a visa?

Yes, in some cases. see finance for visa holders here.

Do I need a driver’s licence to apply?

Yes, but learners may qualify with a co-applicant.

Can I apply with someone else?

Yes, joint applications are allowed.

Can I refinance my current car loan?

Yes — it can lower your repayments or get you a better rate.

Can I trade in my old car as a deposit?

Yes, many lenders accept trade-ins toward the deposit.

Can nurses get car finance?

Yes — see nurse-specific finance tips.

Can teachers apply while on contract?

Yes. Read how to get approved.

Do defence personnel get special car loan rates?

Yes, in some cases. Your job security is a major advantage.

Can FIFO government workers apply?

Yes — consistency in income matters more than job location.

Can I apply if I’m on maternity leave?

Yes, especially if you’re returning to work. Here’s how.

Can I use car finance to buy interstate?

Yes — just make sure the seller provides all required documents.

Can I finance a car from an auction?

Yes, but only through select lenders. Ask your broker first.

Will applying hurt my credit score?

Only if you apply to multiple lenders directly. Brokers help protect your score.

Can I get a car loan if I’ve been bankrupt before?

Yes — see bad credit car loan options.

What if I want to upgrade my car before the loan ends?

You can sell the car, pay off the loan early, or refinance.