Best Bad Credit Car Loans
We can help you find the best bad credit car loans on the market for your needs. Get in touch with us today to get on the road sooner.
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We can help you find the best bad credit car loans on the market for your needs. Get in touch with us today to get on the road sooner.
Getting approved for a bad credit car loan can be challenging if you’ve struggled with your credit score. Fortunately, we take the guesswork out of finding car finance by using the latest technology to compare options from our flexible partnered lenders.
Our consultants match you to a flexible lender most suited to your unique financial circumstances. Let us help you find you a car loan with a simple application today.
Knowing how much you can borrow can put you in a stronger position when negotiating car prices with sellers.
We use state-of-the-art technology to match you to a suitable lender, finding the best bad credit car loans in Australia for borrowers.
Submitting a quote is 100% online and takes just minutes to complete. You can even do it from your smartphone.
You can set up weekly, fortnightly or monthly repayments to work with your personal pay cycle.
Choosing a term between one and five years allows you to repay what you can afford over the life of your loan.
You’re able to buy brand-new or second-hand cars from dealerships or private sellers across Australia with bad credit car loans.
Keeping up with the repayments will potentially allow you to refinance your bad credit car loan to a better deal in the long-term.
Whether you’re an aged pensioner, a veteran or a single mother receiving Centrelink payments, we know lenders who can help you get approved.
Paying off your loan faster with extra payments won’t incur a charge from some of our partner lenders, enabling you to save more money on your loan.
You can choose to get a quote on its own or apply also. If you just get a quote, your consultant will contact you to discuss your options.
Once you’ve applied, our consultant will use our state-of-the-art technology to find the lender with the best chance of approval for you.
From there, your consultant will prepare the application on your behalf. They’ll likely ask for photo ID and additional documents.
Once you’re approved, your consultant will email a digital loan agreement to sign. Once it’s returned, the funds can be released.
You will need to provide your consultant with a copy of a recent driver’s licence (front and back). In other cases, an Australian or foreign-issued passport will also be sufficient.
In some cases, you’ll be asked to provide a letter proving you work for your organisation, as well as any other information relevant to your employment.
Your consultant will ask for two recent payslips to verify your income. You’ll also be asked to produce a Centrelink income statement if you collect government benefits, as some of these can factor into your affordability assessment.
You’ll be asked to produce 90 days’ worth of bank statements. On top of being a further indication of your income, this gives your consultant and your lender an idea of your regular expenditure, such as rent, utilities, transport and food costs.
What credit cards you currently have and their limits will be important in assessing your affordability. You’ll also be asked about other outstanding debt or liabilities you’re currently paying down, such as a personal loan.
The less debt you’re carrying, the better your case will look to a lender. It’s a good idea to pay defaults on your credit file or enter into arrangements to repay them in smaller amounts.
Showing lenders you’ve stayed with the same employer for a considerable period will demonstrate your income is unlikely to change and you have stability in your work life.
Reducing spending outside of the essentials, such as going out or buying your lunch, will show a lender you have a good understanding of how to manage your personal finances and are practicing financial discipline.
If you can, build up some cash reserve before you apply. You’ll not only be able to show evidence you have savings, but you may be able to offer a deposit towards your bad credit car loan.