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Single parent car loans

Learn how to compare car loan options for single parents and apply online.

loans.com.au Car Loans

loans.com.au - New and Dealer Used Car Loan logo image

3.99 %p.a.

fixed rate

4.53 %p.a.

comparison rate

  • Early payout available
  • No monthly ongoing fee
  • Borrow up to $100,000
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Single parent car loan comparisons

Getting single parent car loans might be difficult but it doesn't have to be stressful.

Owning a car means a way for your kids to get to school, a way for you to get to work, or simply giving your family the means to get where they need to be.

Compare your loan options below and apply online.

Data updated regularly
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Data updated regularly
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Monthly Repayment View Details CTA
loans.com.au - New and Dealer Used Car Loan
loans.com.au - New and Dealer Used Car Loan
3.99%
(fixed)
4.53%
You'll receive a fixed rate of 3.99% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.

⭐Special Offer: Settle the loan before 30 June 2022 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
You'll receive a fixed rate of 3.99% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.

⭐Special Offer: Settle the loan before 30 June 2022 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
Go to site
View details
Wisr Secured Car Loan
Wisr Secured Car Loan
From
4.74%
(fixed)
5.01%
You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $64,000 with personalised rates and rewards for strong credit customers.

⭐Special Offer: Wisr's standard establishment fee $605 will be reduced to $195 for applications submitted through Finder. T&Cs apply.
You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $64,000 with personalised rates and rewards for strong credit customers.

⭐Special Offer: Wisr's standard establishment fee $605 will be reduced to $195 for applications submitted through Finder. T&Cs apply.
Go to site
View details
Credit Concierge Car Loan
Credit Concierge Car Loan
From
3.69%
(fixed)
4.23%
You'll receive a fixed rate of 3.69% p.a. with a comparison rate of 4.23% p.a.
Get access to over 20 providers to fund a new or used car.
You'll receive a fixed rate of 3.69% p.a. with a comparison rate of 4.23% p.a.
Get access to over 20 providers to fund a new or used car.
Go to site
View details
IMB New Car Loan
IMB New Car Loan
4.88%
(fixed)
5.23%
You'll receive a fixed rate of 4.88% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
You'll receive a fixed rate of 4.88% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
Go to site
View details
Driva Car Loan
Exclusive
Driva Car Loan
From
3.99%
(fixed)
4.79%
You'll receive a fixed rate from 3.99% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.

⭐Exclusive Offer: Apply and settle with Driva by February 7, 2022 to earn a $250 fuel voucher.
You'll receive a fixed rate from 3.99% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.

⭐Exclusive Offer: Apply and settle with Driva by February 7, 2022 to earn a $250 fuel voucher.
Go to site
View details
RACV New Car Loans
RACV New Car Loans
From
4.99%
(fixed)
5.69%
You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
Go to site
View details
Stratton Finance New Car Loan
Stratton Finance New Car Loan
From
3.99%
(fixed)
5.27%
You'll receive a fixed rate from 3.99% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
You'll receive a fixed rate from 3.99% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Go to site
View details
NRMA New Car Loan
NRMA New Car Loan
From
4.99%
(fixed)
5.69%
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 3 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 3 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
Go to site
View details
NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed
From
6.99%
(fixed)
7.91%
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
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View details
Symple Loans Personal Loan
Symple Loans Personal Loan
From
5.75%
(variable)
6.47%
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
Go to site
View details
SocietyOne Car Loan
SocietyOne Car Loan
From
5.45%
(fixed)
5.45%
You'll receive a fixed rate between 5.45% p.a. and 21.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
You'll receive a fixed rate between 5.45% p.a. and 21.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
Go to site
View details
OurMoneyMarket Car Loan
OurMoneyMarket Car Loan
From
5.35%
(fixed)
5.65%
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 7 years.
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 7 years.
Go to site
View details
Latitude New and Used Car Loan
Latitude New and Used Car Loan
From
5.99%
(fixed)
7.24%
You'll receive a fixed rate of 5.99% p.a.
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.
You'll receive a fixed rate of 5.99% p.a.
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.
Go to site
View details
NRMA Used Car Loan
NRMA Used Car Loan
From
6.24%
(fixed)
6.94%
You'll receive a fixed rate from 6.24% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
You'll receive a fixed rate from 6.24% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Go to site
View details
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Compare up to 4 providers

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Car loans suitable for single parents:

  • Beyond Bank Low Rate Car Loan "Special Offer": 5.01% p.a. comparison rate. A limited time offer - get a car loan with a 4.69% p.a. variable rate.
  • RACQ Bank Car Loan Special: 6.16% p.a. comparison rate. A car loan suitable for new vehicle purchases with no monthly administration fees.
  • IMB New Car Loan: 5.23% p.a. comparison rate. A new car loan with no monthly service fees and no early repayment.
  • bcu Car Loan: 5.93% p.a. comparison rate. A flexible car loan with redraw facility and fee-free early payout.

Why wouldn’t a single parent be approved for a car loan?

There are a few reasons why single parents might find it difficult to access car finance. As single parents rely on a sole income, they may not meet the financial requirements set by lenders. Their income may not be sufficient because they work part-time in order to take care of their children, or they may receive Centrelink payments. These financial constraints may also mean they are in debt, making it more difficult for them to be approved for a car loan.

As well, some lenders may not take into consideration what you may receive from Centrelink. Most of the time you’ll need a supplementary income to support your car loan application.

What car loan options do single parents have?

Loan typeLoan amountInterest rateEligibility criteriaFind out more
Secured car loan$3,000 - $100,0004-13% p.a.
  • Earn a regular income
  • Have good credit
  • Be employed
More
Short-term loan$100 - $2,00024% per $100 borrowed
  • Earn a regular income
  • Have capacity to repay
More
Centrelink loan$100 - $10,000Varies
  • Earn a regular income
  • Some types of Centrelink payments may not be allowed
More
NAB StepUP$800 - $3,0005.99% p.a.
  • Hold a Centrelink or pension card or be eligible to receive FTB Part A
  • Have resided at your current address for three months
  • Are borrowing for essential goods and services
More
No Interest Loan Scheme$300 - $1,2000%
  • Hold a Centrelink or pension card or be eligible to receive FTB Part A
  • Have resided at your current address for three months
  • Show a willingness and capacity to repay
  • Are borrowing for essential goods and services
More

How to compare car loans for single parents

While you may feel you have limited options when it comes to car loans, it’s still important to compare what options you have available to you to ensure you get opt for the best one for you.

  • Interest rate. The interest rate will be the main contributor to the cost of the loan, and so it’s important you find a competitive rate. Check whether the rate is fixed or variable and compare the rate on offer with that being offered by other lenders.
  • Loan terms. This is how long you’ll have the repay the loan. Most lenders will offer you the option to choose terms of between one and five years for fixed rate loans and one and seven years for variable rate loans.
  • Repayment flexibility. Are you able to line up your repayments to match your pay frequency? Are you able to make additional repayments without penalty? Can you repay your loan early? These are all things which you will need to find out about the loan.
  • Fees. Most loans come with fees, but obviously some loans charge less than others. See what fees you will be charged upfront, check if there are ongoing fees such as monthly or annual account-keeping fees, and note any other fees that may be applicable.
  • Additional features. The loan may also come with additional features, such as extended warranty or a loan redraw facility.

Things to watch out for

When comparing your car loan options, make sure you check the reputability of the lender. Some lenders may claim to help single parents with car loans, but then charge you extremely high fees and rates that can make it difficult for you to manage your day-to-day finances. If you’re unsure of your eligibility with a certain lender, it might be worth talking to them first to avoid having too many credit applications on your credit file.

How to apply?

To apply for a car loan you can compare your options using the comparison tables on this page and across the rest of finder.com.au. Once you’ve found a loan, make sure you check the eligibility criteria to see what your chances are of being approved. Then you can simply click "Go to Site" to be directed through to the lender’s online application form where you can provide your personal and financial details and wait to see if you’ve been approved.

As a single parent, it's important to call a few lenders to discuss your eligibility first. Applying too many times can affect your credit history and make you appear less appealing to lenders.

What is next?

More guides on Finder

    Car Loan Offers

    Important Information*
    Logo for IMB New Car Loan
    IMB New Car Loan

    You'll receive a fixed rate of 4.88% p.a.
    A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

    More info
    Logo for Beyond Bank Low Rate Car Loan "Special Offer"
    Beyond Bank Low Rate Car Loan "Special Offer"

    You'll receive a fixed rate of 4.69% p.a.
    Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

    More info
    Logo for RACV New Car Loans
    RACV New Car Loans

    You'll receive a fixed rate from 4.99% p.a.
    A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

    More info
    Logo for NRMA New Car Loan
    NRMA New Car Loan

    You'll receive a fixed rate of 4.99% p.a.
    Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

    More info

    Ask an Expert

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    8 Responses

      Default Gravatar
      TanyaSeptember 3, 2018

      Hi,

      Just wondering if I can go for a car loan. I just recently moved from Queensland to Northern Territory.

      Reply
        Avatarfinder Customer Care
        JeniSeptember 4, 2018Staff

        Hi Tanya,

        Thank you for getting in touch with Finder.

        Even if you have just recently moved, as long as you meet the financial requirements set by lenders – let’s say Centrelink payments, that should be fine. In addition, a supplementary income is helpful to support your loan application. On this page, you’ll see a table with the list of banks/lenders that you may apply for a car loan. It is best to check the eligibility criteria to see what your chances are of being approved.

        Please note that it’s important to call a few lenders to discuss your eligibility first. Having too many credit enquiries through multiple applications in a short period of time can affect your credit history and make you appear less appealing to lenders.

        I hope this helps.

        Please feel free to reach out to us if you have any other enquiries.

        Thank you and have a wonderful day!

        Cheers,
        Jeni

        Reply
      Default Gravatar
      EmsJuly 23, 2016

      I’m single mother with 4 kids Centerlink is my main income and I also receive child support,I have $7000 saved in my bank to help with purchasing a car,would I be able to get finance for a car worth between 20,000 to $25,000,
      What would be best option

      Reply
        Avatarfinder Customer Care
        MayJuly 24, 2016Staff

        Hi Ems,

        Thanks for your inquiry and welcome to Finder.

        Since you’re on Centrelink payments, most lenders would require you to have an additional source of income to support your loan application.

        Nonetheless, though we’re not sure if you’ll be approved for a loan or not, as a single parent, your options would either be secured personal loan, unsecured personal loan, or a payday loan.

        Hope that helps.

        Cheers,
        May

        Reply
      Default Gravatar
      TrishJanuary 4, 2016

      I am a single mother of 3 on a single parenting payment from Centrelink, am I able to get a loan for a car I have someone who is willing to go guarantor for me on a loan

      Reply
        Avatarfinder Customer Care
        ElizabethJanuary 4, 2016Staff

        Hi Trish,

        Thanks for your question.

        You can find lenders that consider Centrelink applicants which includes short-term lenders and banks), you can also find a guide on guarantor personal loans, our guide on joint application personal loans.

        You can select the “Go to site” button of your preferred lender to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

        I hope this information will be of use.

        Thanks,

        Elizabeth

        Reply
      Default Gravatar
      CharlenaDecember 13, 2014

      Wondering if a singel mothers with two children can apply for a car loan.

      Reply
        Avatarfinder Customer Care
        ShirleyDecember 15, 2014Staff

        Hi Charlena,

        Thanks for your question.

        If the source of your primary income is not from Centrelink and you are currently employed, then you may be eligible for most loans featured on this page.

        It’s advisable that you get in touch with a few of the lenders first to discuss your options and eligibility.

        Cheers,
        Shirley

        Reply
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