🚛 Can You Get Horse Float Finance While Receiving Centrelink?
Yes! Some lenders accept Centrelink payments as income, but approval depends on the type of benefit you receive, your overall income, and your ability to make repayments.
If you’re on Age Pension, Disability Support Pension (DSP), or Family Tax Benefits, you may qualify for horse float finance, especially if you have additional income from employment, investments, or a guarantor.
🏦 Which Centrelink Payments Qualify as Income?
Not all Centrelink payments are accepted by lenders. Here’s a breakdown:
| 🔑 Centrelink Payment | Accepted by Lenders? | Additional Requirements |
|---|---|---|
| 📑 Age Pension | ✅ Yes | May require a co-borrower for larger loans |
| 💰 Disability Support Pension (DSP) | ✅ Yes | Must show affordability based on income |
| 📆 Family Tax Benefits (A & B) | ✅ Yes | Often accepted if combined with other income |
| 🚛 Carer’s Payment | ✅ Yes | May need proof of ongoing eligibility |
| 📉 JobSeeker (Newstart) | ❌ No | Considered unstable income |
| 📆 Youth Allowance | ❌ No | Not considered a long-term income source |
💡 Tip: If your only income is Centrelink payments, applying with a guarantor or a secured loan can improve your chances of approval.
📋 Best Horse Float Finance Options for Centrelink Recipients
If you receive Centrelink income, these loan options may work best:
| 🔑 Loan Type | How It Works | Best For |
|---|---|---|
| 🚛 Secured Horse Float Loan | Uses the float as collateral to lower risk | Pensioners or DSP recipients with additional income |
| 💰 Guarantor Loan | A family member co-signs to increase approval chances | Applicants relying mainly on Centrelink benefits |
| 📆 Low-Deposit Loan | Allows financing with a small deposit | Borrowers with some savings but low income |
| 📉 Part-Time Income Loan | Combines Centrelink with employment earnings | Applicants with casual or part-time work |
💡 Tip: If your Centrelink payments make up 100% of your income, your approval chances increase if you can show regular savings or additional earnings.
🏆 Pros & Cons of Horse Float Finance for Centrelink Recipients
✅ Pros:
✔️ Some lenders accept pension and family benefits as income
✔️ Secured loans offer better approval chances
✔️ A finance broker can match you with flexible lenders
⚠️ Cons:
❌ Higher interest rates for Centrelink-only borrowers
❌ Some lenders require additional income or a guarantor
❌ Approval may take longer due to extra income verification
💳 Why a Finance Broker Can Help Centrelink Recipients Get Approved
A finance broker can:
✅ Find lenders who accept Centrelink payments as income
✅ Secure a loan structure with affordable repayments
✅ Assist in applying with a guarantor or alternative finance options
🔑 Final Thoughts
If you’re on Centrelink, you may still qualify for horse float finance, especially if you receive Age Pension, DSP, or Family Tax Benefits. However, approval is easier if you have additional income, a guarantor, or opt for a secured loan. A finance broker can help you find the best lender and improve your chances of getting approved.
🚀 Receiving Centrelink and need horse float finance? Get expert advice today!
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.
