July 5, 2022

If you’re an international student or have moved here from overseas for work, you may be wondering how you go about applying for a car loan with an international driving licence, or even if you can apply for a car loan.


There are numerous options for vehicle finance, though the process may vary depending on your personal circumstances, so it’s important to know what’s involved.


Applying for a car loan

Some lenders may have different requirements when it comes to vehicle finance if you have an international driver’s licence. You may need to have permanent residency or a valid work visa, and have confirmed employment in Australia.


You don’t need a driver’s licence to get a car loan, however, you’ll need to provide an official photo ID (such as a passport or Proof of Age card). Some common reasons for getting a car loan without an Australian drivers licence may be if you’re planning to get your licence in the future, buying a vehicle for someone else, buying a vehicle for a restoration project, or using the vehicle on private property.


If you have an international driver’s licence and want to buy a new vehicle, it may be worth considering if it will be easier if you transfer your licence to an Australian driver’s licence before applying for a car loan.

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If you don’t have a full or provisional Australian licence, you’ll need to get your learner’s permit. It’s important to consider that if you get approved for a car loan, you need to be able to legally drive the car, and have the proper licence.

Are you here on a visa?

There may be some hurdles to jump through in order to get approved for a car loan if you’re here on a visa.


You may need to provide proof of regular income to ensure you’ll be able to keep up with your loan repayments. Paying more on your deposit may also make it easier. The bigger your deposit, the less risk for the lender, which may help you get approved for a loan.


If you’re applying for a car loan while on a visa, having a loan guarantor may improve the likelihood of you being approved.


It’s important to be aware that if you’re in Australia on a visa, a lender is unlikely to approve your loan if the loan term exceeds the length of your visa. The loan term will need to conclude before the expiration of your visa.

Car loans for international students

Getting a car loan if you’re an international student may not be straightforward, though it can be possible.

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Not all lenders will offer car loans to international students, and those that do, may have specific requirements for visa types and conditions that must be met. As certain restrictions may apply, it can depend on your individual situation as to whether you’re eligible.


If you’re an international student, lenders may perceive you to be a higher risk as a borrower. You’ll likely need to demonstrate your stability and capability to meet financial commitments.


Get help from a finance specialist

To make the process of applying for a car loan easier, it’s generally best to get advice from a finance specialist. This can be especially important if you have an international driver’s licence.


If you’re an international student or have an international driver’s licence, a finance specialist can do all the running around to find a suitable lender. They will help you through the process and tell you what paperwork or documentation you may need to apply for your loan.


At 360 Finance, we have access to a variety of lenders and car loan projects and can find suitable finance options for your circumstances and budget. We can provide car loan advice to help you choose the right finance option for you, so you can get the vehicle you need, when you need it.

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