What is NILS for Vehicles?

Help to buy a vehicle interest free.

NILS for Vehicles is a fee free, interest free loan of $2000 to $5000 that can be paid off over up to 48 months with simple fortnightly repayments. NILS for Vehicles is a variation of our existing NILS program. 

NILS for vehicles isn’t a bank loan, it is a circular community credit model. This means when a borrower makes a repayment the funds are then made available to another community member. NILS for Vehicles is offered by Mary MacKillop Today in partnership with Good Shepherd Australia. 

NILS for Vehicles is for the purchase of a vehicle that is used for transport. This includes cars, motorcycles, mobility scooters and boats. Please note this does not include recreational bikes, boats or caravans. The vehicle being purchased must be road worthy (excluding mobility scooters). 

Vehicles can be purchased from a dealer or through a private sale. All money is transferred directly to the person or business selling the vehicle. We do not lend cash.

Please read the criteria below carefully before you submit your enquiry to ensure you are eligible to apply.

You can apply for a NILS for Vehicles loan with Mary MacKillop Today if you:

1. Live in NSW or ACT and have been at your current or previous address for 3+ months (this may be able to be waived for people experiencing family and domestic violence and is assessed on an individual basis) and are up to date with your rent.

2. Are receiving a Centrelink benefit or on a low income. (Single: less than $70k ($57k net) or couple/individual with dependents: less than $100k ($75k net). You must be employed for more than three months to include employment income.

3. If you are receiving Job Seeker, Austudy or Youth Allowance your rent or board must be no more than 30% of your fortnightly income.

4. Have no more than 3 existing loans or debts (including rent to buy, buy now pay later, Centrelink advances and debt collection repayments) and are up to date with all payments.

5. Debts must be on a payment plan. If under $500 at least one on time payment must be made. If over $500, three months of on time payments must be made before enquiring.

6. No defaults over $500 in total. If there is a default below $500, a payment plan must be in place with one payment made.

7. Utilities are up to date or less than $500 owing and on a payment plan.

8. Do not have regular payment dishonours on your bank account.

9. Can show that you can afford to repay the loan.

You will require documentation to verify the above.

The maximum amount you can borrow is $5,000. For example, if you owe $500 on a NILS loan you will only be eligible to borrow up to $4500 for a NILS for Vehicles loan.

There are five simple steps to apply and receive a NILS Loan with Mary Mackillop Today: 

1. ENQUIRE

Please note: enquiries will only be open when we have the capacity to process your application. While our waiting list is full, we will not be able to accept enquiries. We accept enquiries online, face to face or from support workers, we do not accept enquiries over the phone.

If you are a support worker assisting a client, believe that purchasing a vehicle is a time sensitive need and can help your client collect their documentation, we may be able to accept an application at any time. Support workers unable to apply online please email us at info@mmtloans.org.au. Please note when applications are closed only enquiry emails from community service providers will be responded to.

2. DOCUMENTATION

If the NILS for Vehicles application form is open, you will be asked to upload your credit report and Drivers Licence. If you are eligible, you will then be asked to upload the required documents. You will need to provide ALL documents listed in the document checklist before we are able to proceed with your application. If you provide all documents in the first instance, we will be in contact with you to finalise the application. If we need to contact you for additional documents, the process will take longer for you. Please go through the document checklist and information following the checklist to ensure you are providing the information we require. There are also videos available to help you get the right information together.

You will have seven days to provide the required documents, if all the required documents are not received within seven days of our email requesting them, your enquiry will be closed.

3. INTERVIEW

Once all documents are received, we will organise a phone interview to discuss your financial situation and we help you apply. We will call you or send you a link to organise a time to complete the interview.

4. ASSESSMENT 

The application will be assessed by Good Shepherd Australia and will take around a week from when the loan is submitted. Once the loan is approved you will have 90 days to make your purchase and draw down on the loan.

5. OUTCOME

You will be notified of the outcome of your application and the next steps. 

The NILS4Cars application form will only be available when we are accepting enquiries.
If it is unavailable, please check back another time to see if new enquiries are being accepted.
Please do not call as we are unable to predict when we will be able to accept new enquiries.