Car Loans for Permanent Part-timers
There are many Australians working permanent part-time jobs in 2018. Whether you spend the remainder of your time taking charge of childcare or balance a number of jobs or life activities, permanent part-time workers are a valuable part of the Australian economy.
Car loans for permanent part-timers can be a daunting prospect. At Positive Lending Solutions, we want to make the process as easy and stress-free as possible – helping you to get on the road in the vehicle that you want.
Find out how we can help you with car loans for permanent part-timers.
Can you get a car loan if you’re a permanent part-timer?
Yes, there is no reason why you should be rejected from a car loan simply because you are a permanent part-time worker. As long as you can show evidence of having a regular income, you should be able to make a successful car loan application.
What do you need for a successful application?
Car loans for permanent part-timers are quite safe for lenders since you DO have a secure job. To make your car loan application successful, you’ll want to make sure that you’re in the best financial position possible as a permanent part-timer.
Make sure you know the minimum income requirements of the individual lender to avoid applying for loans that you won’t meet the criteria for.
You’ll need to have the usual documents required for most loans, such as proof of identification and regular income (PAYG, bank statement, payslips).
Having a record of the length of your employment could also help. Avoid applying for a loan if you have only just moved jobs or have recently changed to a new employer. Typically most lenders want to see at least 3-6 months of employment history.
Is there anything you need to watch for as a permanent part-timer?
There’s no reason why you should pay higher interest rates or fees as a permanent part-time worker. Often part-time workers who have irregular incomes or constantly changing hours may face difficulty with getting a loan, but if you are a permanent part-timer, you should find lenders who are happy to approve your application.
Always aim to apply for a loan after working for the same employer for a year or more if you’re a permanent part-timer. This makes your employment status appear more stable and will help the lender view you as a lower risk.
Make sure that you make all of your repayments on time. It’s essential that you’re organised and efficient when it comes to making your repayments as you don't want to affect your credit rating and your potential to borrow in the future.
Avoid applying for multiple loans. Many permanent part-timers get worried that they might be rejected for loans and end up applying for more than one. This is a big mistake as it will show up on your credit history and could raise alarm bells for future lenders.
What are the best car loans for permanent part-timers?
This is a bit of a trick question. Brokers and lenders won't be able to tell you for sure what the best car loan is for you until they review your financial situation, credit history and repayment power.
At Positive Lending Solutions, we have had a history of helping people find the loan that suits their financial status which is why our customers have rated us 9.6 out of 10 on Trustpilot.
If you’re a permanent part-timer, we can work with you to understand your situation and your current needs to find the best car loan for you.
Ask for help
By asking for expert help from our team of brokers, you’ll benefit from our decades of experience in the car loan industry as well as from our access to a wide range of lenders.
We want to save you time, money and the stress of searching for a car loan by yourself. Get in touch today to see how we can help.