Your Car Finance Questions Answered Honestly

A car loan is a type of personal loan used to purchase a vehicle. You borrow a set amount, then repay it with interest over an agreed term — typically 1–7 years. At Carmart Perth, we work with 50+ lenders to find repayments that suit your weekly budget.

We can help with loans from $2,000 up to $250,000 depending on your circumstances. Whether you need a budget daily driver or a family SUV, we'll match you with the right amount.

There is no minimum deposit required to enquire or apply. A deposit can reduce your weekly repayments, but many of our customers drive away with $0 upfront. We also accept trade-ins as a deposit.

Our fastest approvals happen in as little as 3 hours. Most applications receive a response within the same business day. Submitting supporting documents (licence, payslips, bank statements) via our full application speeds up the process significantly.

Your interest rate depends on your credit history, income, loan amount, and lender. We use an indicative rate of 12.99% p.a. as a planning guide, but actual rates vary. We'll always find you the most competitive rate available through our lender panel.

Yes — most of the lenders on our panel allow early repayment. Some lenders charge a small early payout fee. We'll be transparent about this before you sign anything.

Yes. We accept Centrelink income including Parenting Payment, Family Tax Benefits, and Carer's Allowance, DSP. We assess your ability to repay based on your total income, not just your employment status.

Absolutely. DSP is considered a stable, government-guaranteed income and many of our lenders accept it. We've helped many DSP recipients into reliable vehicles that improve their independence and quality of life.

No. Employment is just one type of income. We work with customers receiving government payments, self-employed income, casual or part-time wages, and combinations of these. What matters is that your total income comfortably covers your repayments.

There's no hard minimum — it depends on the loan amount and term. We'll work with you to size a loan your income can support, even if that means starting smaller and refinancing later.

Yes. Age Pension, Veteran's Pension, and other pensions are accepted income types. We'll find you a lender and repayment schedule that works within your budget.

You'll typically need: proof of your Centrelink income (a recent Centrelink statement or MyGov printout), bank statements showing income deposits, and a copy of your driver's licence. We'll guide you through exactly what's needed for your situation.

Yes — that's our specialty. We say yes when others say no. We work with lenders who specifically support customers with defaults, late payments, court judgements, and even bankruptcy. We work harder to get you approved.

Your initial enquiry to Carmart Perth does NOT affect your credit score. We only submit a full credit application to a lender once you've agreed to proceed — and we choose the lender most likely to say yes for your profile, minimising unnecessary enquiries on your file.

Yes. We work with lenders who accept discharged bankruptcies. There are some conditions depending on when you were discharged, but don't assume you're not eligible — talk to us first.

Not necessarily. Defaults are common and many of our lenders look beyond a single default or two, especially if your current financial situation is stable. We'll assess your whole picture, not just a number.

Thin credit history is different from bad credit. If you've never borrowed before, we have lenders who work with first-time borrowers and focus on your income and living stability instead.

Being honest on your application is the most important thing. Having stable income, even a small deposit, and a clear picture of your expenses all help. Uploading your supporting documents via our full application portal also gives lenders more confidence.