Life doesn’t always go to plan. Jobs change, unexpected expenses arise, and sometimes the financial commitments we’ve taken on feel overwhelming. At Angle Auto, we understand that circumstances can shift quickly, and we’re committed to helping our customers navigate those challenges with compassion and practical solutions.
This article explores how our financial hardship support works, using a real‑life example of one of our customers, Sarah* from Wollongong. Her story shows how temporary repayment relief can make a huge difference when life throws you a curveball.
Meet Sarah: An IT Project Manager facing redundancy
Sarah is an IT project manager living in Wollongong with her partner Jeff. Like many Australians, she relies on her car — a 2021 Hyundai Tucson — not just for commuting but for everyday life.
Her monthly repayments were $750, with an outstanding loan balance of $25,000. When Sarah’s role was made redundant, her savings could only cover essential living costs like rent, groceries, and utilities. Suddenly, her car loan felt like an impossible burden.
Rather than falling behind on payments, Sarah reached out to us at Angle Auto to discuss her options.
How we helped Sarah
After talking through her situation, we agreed to a six‑month hardship arrangement. By extending the term of her loan, we were able to temporarily reduce her monthly repayments to $200.
This arrangement gave her the breathing space she needed to focus on finding stable employment.
The outcome
After just three months, Sarah secured a new position. Once the hardship period ended, she agreed to an increased monthly repayment of $780.
This adjustment meant Sarah could repay her vehicle loan within the original term, without further setbacks.
It’s important to note that during the six‑month support period, interest continued to accrue on her outstanding loan balance. That’s why we always encourage customers to consider both the short‑term relief and the long‑term impact when entering a hardship arrangement.
Understanding Financial Hardship
Financial hardship can happen to anyone. At Angle Auto, we define hardship as a situation where you’re temporarily or permanently unable to meet your loan repayments due to circumstances beyond your control.
Common reasons include:
- Redundancy or reduced income
- Illness or injury
- Relationship breakdown
- Natural disasters or unexpected expenses
Our dedicated Financial Hardship page (see here) explains the process in detail, including how to apply and what information you’ll need to provide.
What support looks like
Depending on your situation, hardship support may include:
- Temporary repayment reductions (like Sarah’s case)
- Payment deferrals for a set period
- Restructuring your loan to make repayments more manageable
- Providing payout figures if you’re considering refinancing or selling your vehicle
Every case is assessed individually, because no two customers’ circumstances are the same.
FAQs about missed payments and hardship
We know customers often have questions about what happens if they miss a payment or enter a hardship arrangement. Our FAQs page covers common concerns, including:
Q: What happens if I miss a repayment?
If you miss a repayment, we’ll contact you to discuss the situation. Please be aware that interest will continue to accrue, and your loan balance may increase. It can also lead to late fees and affect your credit history. It’s always best to reach out early so we can explore hardship options before late fees or arrears build up.
Q: Will hardship affect my credit score or credit history?
Entering a hardship arrangement won’t affect your credit score. However, your credit report will show that you have entered a financial hardship arrangement, and your credit score will be affected by any reported missed repayments (both under and outside of an agreed arrangement). By working with us, you can protect your credit history while managing your loan responsibly.
These resources are designed to give you clarity and confidence before you reach out to us.
Moving forward with confidence
Financial hardship is never easy, but you don’t have to face it alone. At Angle Auto, we’re here to support you with empathy and practical solutions that fit your circumstances. Sarah’s story shows that even during redundancy, temporary repayment relief can provide the breathing space needed to get back on track.
If you’re experiencing financial stress, don’t wait until repayments are overdue. Reach out to us today — whether online or by calling 1300 561 869 — and we’ll work with you to find a solution that helps you stay mobile while protecting your financial future. With the right support, you can move forward with confidence knowing you’re not alone.
Extra support is just a call away
There’s always a way forward. If you need help managing your finances, give the National Debt Helpline a call (1800 007 007) and connect with a Financial Counsellor who can guide you through it.
Important information:
* Name and personal details changed to protect the customer’s confidentiality.
