No Interest Loans (NILs) for Vehicles is a loan of up to $5,000 for people and families to purchase a vehicle for day-to-day essential use. The loan has no interest and no fees. Repayments are made at affordable amounts over a maximum of 48 months.
Submit an enquiry via the 'NILS Eligibility From' button below and our team can assess your eligibility to apply.
Obtain a copy of your credit file from Experian here and forward it to the email: nils-team@ucwb.org.au - if your credit file is clear we will email you next steps.
We will email you a list of documents to confirm your identity and a link to submit your most recent 90 days of bank data. We use these documents and data to verify your ability to afford the loan and to prepare an accurate budget.
A NILS team member will call to complete your application and provide you with next steps. If surplus is evident in your budget then we will submit your application to the Good Shepherd Credit Team for assessment.
Outcome usually takes 5–10 days. If conditionally approved, Good Shepherd will email you. You have 90 days to find a vehicle and must send them purchase documents in order for them to complete checks, finalise the loan, and set up repayments.
We will email you a checklist of the documents you need to send us for your application. These documents help us confirm your identity and work out an accurate budget with you.
Please use the checklist to make sure you send all the required documents. We cannot continue with your application if any documents are missing or out of date.
You will need to provide documents such as:
NILs loans are able to help the community because the loans are based on a Circular Community Credit Model.
This means that every time someone makes a repayment, the money can be used to give more loans to other people in the community.
There are no fees, interest or charges on a NILS Loan.
We are fortunate that our NILS Team at UCWB is made up of talented volunteers that speak several languages.
We will try to match you with a volunteer that speaks your preferred language, or we will use an interpreter during the NILS interview.
Yes, there is a credit check for a NILS for Vehicles loan (no credit check for NILS for essential goods and services Loan).
Applicants are encouraged to check their credit report before applying. Find out how to Get your free credit report here.
If you’re unsure about your credit situation or need help managing debts, you may wish to speak with a Financial Counsellor. Free support is available through the National Debt Helpline.
Yes, you may be eligible to apply as long as your current NILS loan has been paid on time for at least 90 days at the full original repayment amount. The amount you can borrow will depend on the balance of your existing loan. We will discuss this with you.
You are not eligible to apply for a NILS for Vehicles loan if you are currently bankrupt.
Obtain a copy of your credit file from Experian here: Credit File request
Multiple loans cannot be used to purchase a motor vehicle. For example, two separate applicants cannot apply for $5,000 each to purchase a $10000 car.
Yes, if you have your own savings you can combine with the NILS for Vehicles loan and put it towards the vehicle purchase.
For example, you can buy an $8000 car if you are approved for NILS4V loan of $5000 and have $3000 savings. You cannot take out another loan to combine with NILS loan.
The money from the loan will be paid directly to the seller or car dealer (not to you) within 5 – 7 business days from the date your documentation is received – which will be outlined in your pre-approval email.
Money will not be transferred to the applicant, as loans are not for cash. The money cannot be repaid to you if you have already bought the car.
No, you cannot use a NILS for Vehicles loan to purchase a vehicle from friends, family or from somebody that you know or have a financial connection to.
Vehicles can be purchased from a car yard OR through private sale, however, all money is paid directly to the person or business selling the vehicle within 5-7 days from the date the correct documentation is received.
You cannot:
You will have 90 days (3 months) to find a vehicle and will be sent an email explaining the documents you will need to provide and next steps.
Final approval to advance the loan is subject to completion of all relevant checks and satisfaction with the paperwork you provide for the specific vehicle you would like to purchase.
If you have a default over $500 you are not eligible to apply for NILs for Vehicles loan.
If your defaults are under $500, you must:
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