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.

Bad Credit Car Loans Approved

How do we help you get approved for your bad credit car loan?

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.

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Pre-approvals available

Knowing how much you can borrow can put you in a stronger position when negotiating car prices with sellers.

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We do the hard work for you

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.

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No messy paperwork

Submitting a quote is 100% online and takes just minutes to complete. You can even do it from your smartphone.

Car loan features and benefits

Pay your way

You can set up weekly, fortnightly or monthly repayments to work with your personal pay cycle.

Borrow over one to five years

Choosing a term between one and five years allows you to repay what you can afford over the life of your loan.

New or used

You’re able to buy brand-new or second-hand cars from dealerships or private sellers across Australia with bad credit car loans.

Refinancing available

Keeping up with the repayments will potentially allow you to refinance your bad credit car loan to a better deal in the long-term.

Centrelink accepted

Whether you’re an aged pensioner, a veteran or a single mother receiving Centrelink payments, we know lenders who can help you get approved.

Free additional repayments

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.

How you can apply today

Bad Credit Car Loans Process

Get a quote and apply

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.

Find the best car loan deal for you

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.

Have your application prepared

From there, your consultant will prepare the application on your behalf. They’ll likely ask for photo ID and additional documents.

Get approved

Once you’re approved, your consultant will email a digital loan agreement to sign. Once it’s returned, the funds can be released.

Documents you need to apply

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.

Top tips for increasing your approval chances

Pay off outstanding debts

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.

Sticking to your job

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.

Cut down on avoidable expenses

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.

Show evidence of savings

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.

Your bad credit car loan questions

Yes – as long as your income covers the loan repayments and you can show your lender your employment is stable enough for that income to remain consistent. Lenders are more interested in what you can afford in the here and now rather than a lack of borrowing history.

Before we can start finding you the best car loans with bad credit, it’s important to brush up on the eligibility criteria for a loan of this type. To apply for a bad credit car loan, you must meet the following:

  • Be over 18 years old
  • Be an Australian permanent resident
  • Earning a form of regular income

A deposit isn’t a necessity with these types of loans. However, paying an upfront lump sum can show proof of savings, save you money on interest in the long-term and increase chances of approval.

Yes – comprehensive car insurance, covering damage to your car, is compulsory. Using a bad credit car loan, you can roll over the cost of your insurance into your loan amount with some lenders. Speak to your consultant about including some of your on-road costs in your car loan.

This varies depending on the lender you go with, but most of our partnered lenders don’t charge early exit fees. Some will also allow you to make extra repayments at no cost.

Your first payment will fall into line with your repayment schedule. Therefore, if you set up a weekly schedule, your first payment will be due a week after you’re approved.

The minimum you can borrow is $5,000. How much you can borrow will depend on what your consultant and the lender determine you can afford.