Casual Employment
Why is it harder to get financing as a casual worker?
A casually employed individual is not entitled to sick leave or annual leave and their hours vary from week to week. Their income is unstable and can vary greatly subsequently affecting their ability to make repayments. For this reason, lenders perceive casual workers as higher risk.
How can you increase your chances of being approved?
- Get a letter from your employer
- Make repayments on time
- Do not apply for multiple loans
- Provide loan security