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.

NILS for Vehicles has the same eligibility criteria as ordinary NILS loans. The main difference is the requirement for a credit check during the application. 

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

1. Live in NSW or ACT (if you are living in another state, please use this link to find a NILS provider in your state: www.goodshep.org.au/services/vehicles.

2. Are receiving Centrelink benefits or on a low income. (Single: less than $70k ($57k net) or couple/individual with dependents: less than $100k ($75k net).

3. Have no more than 3 existing loans or debts (including rent to buy and buy now pay later) and are up to date with all payments (more than 90 days with no missed payments for debts).

4. Have no Credit Report defaults over $500 in total. If there is a default below $500, a payment plan must be arranged prior to applying for a NILS loan.

5. Are up to date with rent.

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

You will require documentation to verify the above.

The maximum amount you can borrow is $5000. 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.

Please contact us if you’re unsure if you qualify.

Please note that if you have any outstanding loans or debts (whether listed on your credit report or current bills) they will need to be less than $500 and on a payment plan at the time of application. Please contact us if you have any questions around this process. We are happy to discuss your individual circumstances.

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.

2. DOCUMENTATION

If the NILS for Vehicles application form is open, you will be asked to upload your credit report. 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. 

3. INTERVIEW

Once all documents are received, we will meet with you face to face or in a phone interview to discuss your financial situation and we will help you apply. We will call you to either organise or complete the interview.

4. ASSESSMENT 

The application will be assessed by Good Shepherd Australia and will take around three days from when the loan is submitted. Once the loan is approved you will have 30 days to make your purchase and draw down on the loan. 

Please note that during the loan assessment a credit check will be performed. We strongly encourage applicants to check their credit report prior to applying. You can get a free copy of your credit report here www.experian.com.au/order-credit-report

5. OUTCOME

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