Introduction: Can You Get a Car Loan on a Bridging Visa?
If you’re in Australia on a Bridging Visa (A, B, C, D, or E), you might be wondering whether you can get a car loan. The answer depends on your visa type, employment status, and lender policies.
✔ Some lenders accept bridging visa holders, but approval is more difficult than for permanent residents.
✔ High-risk bridging visas (BVC, BVD, BVE) are rarely accepted for car finance.
✔ You may need a larger deposit, proof of income, and a guarantor to increase your chances of approval.
In this guide, we’ll explain how to get a car loan on a bridging visa, which lenders accept applications, and how to improve your approval chances.
1. Why Lenders Are Hesitant to Approve Bridging Visa Holders for Car Finance
Most lenders see bridging visa holders as high-risk borrowers because:
🚫 Bridging visas are temporary, meaning the applicant’s future status is uncertain.
🚫 Some bridging visa holders are not allowed to work, making repayments harder.
🚫 Bridging visa holders often don’t have a long credit history in Australia.
However, not all bridging visa holders are the same. If you have:
✔ Stable employment
✔ A strong credit history
✔ A high deposit (20% or more)
You might qualify for a car loan with specialist lenders or credit unions.
2. Which Bridging Visa Holders Are More Likely to Get Approved?
📌 Bridging visa holders with the best chance of car loan approval:
| Visa Type | Approval Chances | Why? |
|---|---|---|
| Bridging Visa A (BVA) | ✅ Moderate-High | Most holders can work full-time & have a PR pathway |
| Bridging Visa B (BVB) | ✅ Moderate | Temporary travel permission, but work rights vary |
| Bridging Visa C (BVC) | ⚠️ Low | Work restrictions & uncertain PR pathway |
| Bridging Visa D (BVD) | ❌ Very Low | Short-term visa with no stability |
| Bridging Visa E (BVE) | ❌ Very Low | Work restrictions & legal uncertainties |
✔ If your bridging visa allows work and you’re waiting for PR approval, lenders may consider your application.
✔ If your visa has no work rights or uncertain status, most lenders will reject the loan.
3. What Do You Need to Apply for a Car Loan on a Bridging Visa?
📌 Minimum Requirements for Bridging Visa Car Loans:
✔ Valid Bridging Visa with at least 12 months remaining
✔ Stable employment & proof of income (payslips or tax returns)
✔ Proof of residency (utility bill, lease agreement, or employer letter)
✔ Credit history (Australian or international)
✔ Deposit of at least 20% (higher than PR holders)
💡 Tip: If you don’t have an Australian credit score, some lenders accept overseas credit reports to assess your reliability.
4. What Are the Interest Rates for Bridging Visa Car Loans?
📌 Car Loan Interest Rates Based on Visa Type
| Residency Status | Typical Interest Rate |
|---|---|
| Australian Citizen / PR Holder | ✅ 5-7% |
| Skilled Worker Visa (482, 491, 186, 189) | ✅ 6-10% |
| Bridging Visa A or B (BVA, BVB) | ⚠️ 9-15% |
| Bridging Visa C, D, E (BVC, BVD, BVE) | ❌ 15-25% |
💡 Tip: Bridging visa holders often face higher interest rates because of their temporary status. To reduce your rate, apply with a larger deposit or a co-signer who has PR or citizenship.
5. Best Lenders for Bridging Visa Car Loans
📌 Which lenders accept bridging visa holders?
| Lender Type | Best For | Bridging Visa Accepted? |
|---|---|---|
| Major Banks (Commonwealth, ANZ, Westpac, NAB) | Skilled visa holders, PR applicants | ❌ No |
| Credit Unions (Beyond Bank, CUA, Bank Australia) | Skilled workers & PR applicants | ✅ Some BVA, BVB |
| Online Lenders (Plenti, MoneyMe, Now Finance) | Temporary visa holders | ✅ Some BVA, BVB |
| Private Lenders | High-risk visa holders | ✅ BVA, BVB, BVC |
✔ For lower interest rates: Apply through a credit union or online lender.
✔ For higher approval chances: Consider a private lender (but expect higher interest rates).
6. How to Improve Your Chances of Getting a Car Loan on a Bridging Visa
📌 Ways to Increase Approval Chances:
✔ Apply with a co-borrower – If your partner is an Australian citizen or PR, your chances increase.
✔ Provide a larger deposit – Aim for at least 20-30% down payment.
✔ Show strong employment history – Lenders prefer applicants with at least 6 months in the same job.
✔ Use a secured car loan – Using the car as collateral makes lenders more comfortable approving your loan.
✔ Improve your credit score – Pay bills on time and avoid unnecessary loan applications.
💡 Tip: Some lenders offer lower rates to bridging visa holders on the pathway to PR, so mention this in your application.
Final Thoughts: Can Bridging Visa Holders Get Car Finance in Australia?
✔ Bridging Visa A (BVA) and Bridging Visa B (BVB) holders have the best chance of securing a car loan, especially if they have full-time employment and a PR pathway.
✔ Bridging Visa C, D, and E holders face major challenges in getting approved, and may need to look at private lenders or alternative financing options.
✔ A higher deposit (20% or more), stable job, and a co-borrower can improve approval chances.
💡 Want to find the best car finance options for bridging visa holders? Compare lenders today at FinanceTheRide.com.au! 🚗💨
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.
