🚛 Can You Get Horse Float Finance If You Receive Centrelink?
Yes! Some lenders accept Centrelink payments as part of your income for horse float finance, but it depends on the type of benefits you receive and your overall financial situation. If Centrelink is your only source of income, approval may be more challenging, but options still exist.
To improve approval chances, lenders may ask for:
✔️ Proof of stable Centrelink payments (e.g., Family Tax Benefit, Disability Pension)
✔️ Additional income sources (e.g., part-time work, self-employment)
✔️ A secured loan using the float as collateral
✔️ A guarantor to reduce lender risk
🏦 Which Centrelink Payments Do Lenders Accept?
Not all Centrelink benefits qualify for horse float finance. Lenders prefer long-term, stable payments over temporary assistance.
| 🔑 Centrelink Payment Type | Accepted by Lenders? | Additional Requirements |
|---|---|---|
| 📑 Family Tax Benefit (FTB A & B) | ✅ Yes | Must show consistent payments |
| 💰 Disability Support Pension (DSP) | ✅ Yes | Some lenders require additional income |
| 🚛 Age Pension | ✅ Yes | May require a co-borrower for larger loans |
| 📆 Carer’s Pension | ✅ Yes | May need proof of ongoing eligibility |
| 📉 JobSeeker (Newstart) | ❌ No | Considered temporary income |
| 📑 Youth Allowance | ❌ No | Not considered a stable income source |
💡 Tip: If you rely partially on Centrelink but also work part-time, lenders may be more willing to approve your application.
📋 Best Finance Options for Centrelink Recipients
If you receive Centrelink payments, these finance options may help:
| 🔑 Loan Type | How It Works | Best For |
|---|---|---|
| 🚛 Secured Horse Float Loan | Uses the float as collateral for lower rates | Centrelink recipients with stable additional income |
| 💰 Guarantor Loan | A family member co-signs to improve approval odds | Applicants with low or irregular income |
| 📆 Low-Deposit Loan | Allows financing with a small deposit | Borrowers with limited savings |
| 📉 Centrelink-Friendly Loan | Some lenders consider certain benefits as income | Borrowers who receive FTB or DSP |
💡 Tip: If your credit score is low, applying with a guarantor or secured loan can increase approval chances.
🏆 Pros & Cons of Horse Float Finance for Centrelink Recipients
✅ Pros:
✔️ Some lenders accept FTB, DSP, and Age Pension as income
✔️ Secured loans offer lower interest rates and better approval chances
✔️ A finance broker can match you with Centrelink-friendly lenders
⚠️ Cons:
❌ Some lenders require additional income beyond Centrelink
❌ Higher interest rates for applicants with only government benefits
❌ Limited lender options compared to traditional income earners
💳 Why a Finance Broker Can Help Centrelink Recipients Get Approved
A finance broker can:
✅ Find lenders that accept Centrelink benefits as part of income
✅ Secure a loan with affordable repayments
✅ Assist in applying with low-doc or secured finance options
🔑 Final Thoughts
If you receive Centrelink payments, you may still qualify for horse float finance, but lenders prefer applicants with stable long-term benefits, additional income, or a guarantor. A finance broker can help you find lenders who specialize in Centrelink-friendly loans.
🚀 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.
