Being a casual worker doesn’t automatically mean you can’t get a car loan. After all, around one in five Australians consider their employment to be casual, according to the Australian Bureau of Statistics.
The reality is that there are more lenders than you’d think that are willing to work with people in your boat. 11.3% of all car loans approved through Savvy in the 2024-25 financial year were for people who were casually employed.
For casual workers, though, lenders will focus on your income and job stability when assessing your application.
How can I get a car loan as a casual worker?
There are a few key points you’ll need to meet to be approved for car finance as a casual worker. The main ones are:
- Income: you’ll need to hit your lender’s minimum income requirements. This can start from as little as $480 to $500 per week (around $25,000 to $26,000 annually) with some lenders.
- Income stability: lenders want to see consistency in your payslips. Working the same hours each week and receiving a stable income will go a long way towards helping you get approved. Inconsistent shifts and payslips will be a significant red flag.
- Time in employment: you’ll need to show that you’ve been working in the same place for at least three to six months in most cases. A brand-new casual gig won’t cut it. We work with lenders who approve applications for those under six months, but it’s generally much harder to get the green light before you hit that mark.
- Other standard eligibility criteria: aside from these casual-specific points, you’ll have to meet all the other regular criteria, such as age, residency, credit history and more.
How much will my car loan cost as a casual worker?
The cost of your car loan comes down to a range of factors, such as the amount you borrow, your interest rate and fees, the loan term you choose and how often you make your repayments. However, for this example, we’re going to focus on how your interest rate can change based on how long you’ve been working in your current casual job. You can see how things change in the table below:
| Period casually employed | Car loan amount | Interest rate | Monthly repayment | Total interest |
|---|---|---|---|---|
| <6 months | $30,000 | 6.54% p.a. | $588 | $5,253 |
| >6 months, <12 months | $30,000 | 5.85% p.a. | $578 | $4,674 |
| >12 months | $30,000 | 5.85% p.a. | $578 | $4,674 |
| Interest rates based on the lowest available rates for each employment type on a $30,000, five-year car loan. These aren’t necessarily reflective of the rates you’ll receive on your car loan. | ||||
Although the rates are the same for six to 12 months and over 12 months, lenders will still have different criteria when it comes to assessing your application. This means you may still receive a higher rate if you’ve been employed for under 12 months, but it all comes down to your profile.
Car Loan Repayment Calculator
Your estimated repayments
$98.62
| Total interest paid: | Total amount to pay: |
| $1233.43 | $5,143.99 |
How much will I be able to borrow on a casual income?
Each lender assesses borrowing power differently, but they’ll look at the following factors when determining how much they’re willing to lend you:
- Your income and expenses: the more left over after expenses are deducted, the more you’ll be able to pay towards a car loan.
- Your credit score: a strong credit score points to reliability when it comes to staying on top of your debts, which lenders like to see.
- Your history repaying similar loans: if you’ve paid off a similar loan in the past few years, lenders are more likely to trust you with a larger sum.
- The value of your car: the amount you can borrow will be tied to your car’s cost, too. Although you may be able to include certain on-road costs, like stamp duty, registration and insurance, you typically won’t be able to borrow much more than its value.
- Your assets and liabilities: you’re likely to be seen as more reliable with assets like property and cars behind you, but liabilities like other loans will eat into your borrowing power.
How to apply for your car loan with Savvy
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Fill out our online form
Tell us about yourself, your work and the car and loan you’re after.
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Supply any required documents
Send through your documentation to verify your employment and income.
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Discuss your options with us
Your broker will give you a call and talk through your available finance deals.
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Find your ideal car
Our in-house car broker team can help you secure your car if you haven’t already.
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Have your application prepared
We’ll put together your application and submit it for formal assessment.
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Sign on the dotted line
Once approved, we’ll handle settlement so you can sign off and seal the deal.
Why apply for a car loan with Savvy?
The documents you’ll need for your car loan as a casual worker
Here’s a list of documents and details you’ll need to submit when applying for your car loan with Savvy:
- Driver's licence: scans of the front and back of your licence (or another form of government-issued ID).
- Payslips: your last two consecutive payslips will be required. Depending on your personal situation, we may ask for more than two payslips.
- Bank statements: if you haven’t been in your current position for long or have some inconsistencies in your payslips, we may request 90 days of bank statements.
- Savvy forms: your Savvy application, consent form and credit guide will be supplied by your consultant.
- Car details: information about your car, such as its age, is handy to have.
Top tips for maximising your chances of car loan approval on a casual income
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Work for a while before you apply
Make sure you’ve built up a record of consistent work and pay at the same place before you hit send on that application.
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Pay a deposit if possible
If you have savings to spare, paying a deposit towards the purchase of your car can help you get approved and save money overall (though we work with lenders who can finance up to 100% of your car's purchase price).
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Improve your credit score
Even if your score isn’t that bad, continuing to pay your bills on time and reducing credit limits where possible can boost it.
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Apply with a partner or guarantor
Having an extra income on your application can increase your approval chances, as can applying with a parent or grandparent as a guarantor.
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Cut out unnecessary expenses
Assess your monthly incomings and outgoings to see where you might be able to save money. Every little bit counts in your application.
- Characteristics of Employment, Australia – Australian Bureau of Statistics
