What it can cover
- Mechanical repairs, such as brakes, the clutch, the gearbox or a timing belt.
- New tyres, a battery or a windscreen.
- A major service, or repairs to pass a roadworthy check.
- Registration, including compulsory third party insurance.
- Towing, or panel repairs after a breakdown or minor accident.
- Buying a second-hand car, if the price is within $4,600.
Check these before you borrow
Get a written quote
Ask for parts and labour to be listed. For a big job, a second quote shows whether the price is fair.
Check your insurance and warranty
Comprehensive insurance may cover accident damage. A new-car, used-car or repair warranty may cover the fault.
Ask about paying over time
Some workshops offer payment plans. Ask what they cost before you agree.
No Interest Loans
If you’re eligible, a No Interest Loan may cover essential car repairs with no interest or fees.
How the loan works
It’s the same loan whatever you use it for. Your offer and contract show your exact figures before you accept.
| Feature | What it means |
|---|---|
| What you can borrow | $2,050 to $4,600 in cash, in $50 steps |
| Establishment fee | $400, added to the loan, so the total stays within $5,000 |
| Length | 3 or 6 months |
| Repayments | The same amount each time, weekly, fortnightly or monthly, timed to your pay. The first is at least 7 days after the loan is paid. |
| Interest | A fixed rate, charged only on what you still owe |
| Paying early | Allowed at any time, with no early repayment fee |
| Security | None. The loan is unsecured |
| How you get the money | Paid into your own Australian bank account, if you’re approved and accept |
When this loan isn’t the right fit
- Repairs your insurer or a warranty will pay for.
- A car that costs more than $4,600, or finance secured against the car.
- Running costs like fuel, or ongoing car payments.
- Everyday bills or living costs that keep coming back.
- Paying off other loans or debts.
- Anything for a business, investing or gambling.
- If the repayments would leave you short for essentials. Free, confidential help is available from the National Debt Helpline on 1800 007 007.
Questions
Can I use it to buy a car?
Yes, if the price is within $4,600 in cash. Our loan is unsecured, so the car isn’t used as security.
Do you pay the mechanic?
No. The money goes into your own bank account, and you pay the workshop yourself.
How quickly is the money paid?
If you’re approved and accept your contract, the money is sent to your own bank account. Timing depends on your bank and our checks, so we can’t promise when it will arrive.
Can I pay it off early?
Yes. You can repay early at any time, with no early repayment fee. You only pay interest for the time you have the money.