Car Loans for Healthcare Workers

Compare specialist car loans for Australia’s busy healthcare workers with Savvy.
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, updated on September 11th, 2023       

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Car finance options for healthcare workers

Looking for fairer, more cost-effective car loans as a healthcare worker? The good news is that there are plenty of options on the market available to you that are fast and affordable to source. Find out more about car loans for healthcare workers and whether you’re able to access the best deals to suit your car finance needs with Savvy.

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Features and benefits

100% finance

You apply for the amount you need, which can be up to 100% of the price of a new car.

Flexible repayment options

You repay a car loan over a set period, which can be anything from one to seven years.

All healthcare professionals

Our car loans are available to anyone who works in the industry: anaesthesiologists, doctors, radiologists, dentists, technicians, nurses, paramedics and midwives can all apply for a car loan, as well as anyone else who works in healthcare.

Secured car loans

Car loans can be unsecured or secured. The latter is far more common and tends to be cheaper to service because your vehicle acts as security for your borrowing and lessens the lender’s risk. Loans also come with variable or fixed interest rates.

Fixed interest rates

Fixed rates tend to be easier to budget for because repayment amounts don’t change from month to month or year to year.


Borrowers need to be able to demonstrate regular, ongoing income and will often need to be a resident or citizen of Australia, although some visa exceptions apply.

Why do healthcare workers compare car loans with Savvy?

Your car loan application process explained

First up, speak to a Savvy consultant and they’ll help you identify the most cost-effective loan options available. They’ll also advise you on how to navigate the application process and provide support all the way up to loan settlement with your lender. Alternatively, you can get a quick quote on our website, filling out a few details about yourself, after which one of our consultants will be in touch with you.

Applications for healthcare worker car loans are carried out entirely online. Borrowers just need to fill out a simple form, explaining how much they’re looking for, the period over which they expect to repay the loan and information about the car they’re looking to buy. They can then upload all the supporting documentation required via the web, which includes:

  • That can be a driver’s licence, passport or another government-issued item.
  • Proof of address. You can use a recent phone or utility bill, for example.
  • Your Medicare card, primarily to confirm your residency status.
  • Statements for your mortgage, if you have one, and details of any other borrowing, including credit and store cards.
  • If you have assets, such as shares, property, or other vehicles, you will need to supply details of that.
  • Your last 90 days’ worth of payslips.
  • Your past few months’ worth of bank statements.

You’ll also need to provide details about your new car as part of the initial application process. Once your loan is settled, you will also need to supply a copy of the invoice before your car loan can be settled.

Frequently asked car loan questions

Can healthcare workers use a deposit with a car loan?

Yes – however, there’s no obligation to do so. You can borrow 100% of the price of your new vehicle with a healthcare workers car loan. Alternatively, you can use a deposit in the form of savings or a trade-in vehicle.

Can I get a car loan if I work for myself in healthcare?

Absolutely. Chattel mortgages work in a very similar way to car loans for healthcare workers. You’ll need to weigh up how you use your vehicle because commercial chattel mortgages require business use at least half the time.

Chattel mortgages mean you can claim depreciation, interest on repayments (proportional to work use), and all the purchase GST when you file your next business activity statement.

Alternatively, low doc car loans are an option that aren’t restricted to business usage and provide a viable option for those who can’t supply the required documentation.

How long do I get to repay a car loan?

Car loans run between one and seven years. Chattel mortgages go for 24 to 60 months, but some lenders will extend the repayment period for this type of finance to 84 months.

What’s a residual payment?

Residual or balloon payments are designed to improve business cash flow and allow private car buyers to manage regular repayment amounts. You reserve a percentage of the car’s value until the end of your finance agreement, at which time the balance becomes due. That reduces repayment amounts during the car loan term, and you can either pay the amount off or refinance a residual when the time to pay arrives.

Can I buy any car with a healthcare worker’s loan?

Not any car – all lenders have age limits for cars. They apply at the end of the loan term, so if the vehicle you’re considering is five years old, for instance, it’ll be ten years old for the purposes of a five-year healthcare worker’s car loan. You can buy new or second-hand vehicles with a car loan from private buyers or dealers.

Can I make additional repayments on my car loan?

Yes – paying above the minimum required amount for car loans is a great way to reduce your interest costs over the life of the loan, as doing so will shorten your loan term overall.

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