Can I get a car loan if I work part-time?
- Can you prove you’ve been consistently employed for a considerable amount of time? You may need to show pay slips and a letter from your employer.
- Does your income exceed the minimum income criteria? To be eligible for a Plenti car loan, you must earn over $25,000 per year from a provable, regular source of income.
- Can you show proof of savings? If lenders can see that you’re capable of setting aside money for loan repayments, they’re more likely to view you as a trustworthy borrower.
Improve your chances
- Select a less expensive car so you can borrow a smaller amount
- Save for a deposit so you can borrow a smaller amount
- Check and improve your credit score
- Paying your rent, mortgage and utility bills on time
- Making credit card repayments on time and paying more than the minimum repayment
- Lowering your credit card limit
- Limiting how many applications you make for credit