Bad Credit Loans With Car As Security
By matching you to a suitable lender, we can get your secured bad credit car loan approved today and back in the driver’s seat.
Menu
By matching you to a suitable lender, we can get your secured bad credit car loan approved today and back in the driver’s seat.
The road to securing a car loan can seem rocky, especially if it feels like your credit rating is following you at every turn, but it’s far from the end of the line.
In fact, we’ve helped thousands of people across Australia get approved for their secured bad credit car loan over more than a decade.
Our consultants have unrivalled experience in matching borrowers to lenders offering bad credit loans with a car as security which best meet their needs. Start the application process today.
We put your circumstances and preferences front and centre from the moment you submit an online quote.
Our fully-online process means you can apply from anywhere in Australia, be it a big city or a regional town.
Our experienced consultants use state-of-the-art technology and a panel of flexible lenders to find you the best deal.
There’s no need for deposits; your loan can cover the total cost of your car, including on-road costs such as registration and insurance.
You’ll be able to borrow up to $50,000 in some cases using a secured bad credit car loan, compared to the lower limits set on unsecured bad credit options.
Our lenders enable you to buy new or used, giving you ample choice when you hit the market looking for your next car.
You can repay your loan over one to five years, enabling you to ensure that your repayments are more manageable for your income.
Whether you’re working full-time, casually, receiving alternative income or collecting Centrelink benefits, we can help find a suitable lender.
Some of our lenders don’t charge discharge or exit fees, meaning you won’t be penalised for paying off your loan faster and saving on interest.
When you’re applying for a secured bad credit car loan, we want the experience to be straightforward.
That’s why our fast and efficient online application takes only a matter of minutes to complete and the process is conducted alongside one of our experienced consultants with their guidance.
To kick off the process, brush up on our step-by-step guide to applying for a secured bad credit car loan.
Submitting an obligation-free quote won’t affect your credit score and will put you in touch with one of our experienced consultants. They’ll be able to check what options are open to you.
Once you’ve decided to apply, your consultant matches you with a suitable lender using our state-of-the-art technology. If you’re happy with the loan selected, they’ll build your formal application to submit, ensuring it meets your lender’s criteria.
We aim to get you approved in as little as one business day, so you won’t have long to wait for a decision on your loan.
Your consultant will send over a loan agreement and a credit guide for you to sign. From there, your funds will be released once those are returned and you can buy your new car.
Before you send us a quote, make sure you are eligible to apply for a bad credit secured car loan. These include checking:
Your age
You must be over 18 years old to apply for secured bad credit car finance in Australia. You’re never too old to apply, but you may have to meet more requirements the older you are (such as proving your ability to repay if you’re retired).
Your residency
In most cases, you must be a permanent Australian resident or citizen. However, some of our lenders can work with temporary residents living in Australia on an eligible visa.
Your income
Earning a stable income of some form is a requirement for taking out a secured bad credit car loan. Our lending partners can accept certain Centrelink payments as part of your application, such as single parent, carer and disability pensions when assessing your affordability.
Your employment
You can be working full-time, part-time, seasonally or not at all in some cases. No matter your employment status, lenders will want to see you can afford the loan repayments on an ongoing basis.
Opting to pay your loan off over one or two years instead of five is one way of paying your secured bad credit car loan off faster. While your repayments will be increased, you’ll pay less in fees and interest throughout your loan.
As mentioned, making extra contributions towards your car loan will help you pay down your debt at a faster rate. Even as little as $50 to $100 extra each month can make the difference over the span of a five-year car loan.
Taking out a loan is also a good opportunity to review your spending habits. Cutting back on areas outside your staple costs such as rent, utilities and transport will leave you with more money in the bank to make extra payments if your lender allows it.
Stumping up for an upfront payment will reduce the amount you’ll have to pay down on your secured bad credit car loan over the coming months and years which, in turn, will also reduce the interest and fees you’ll be liable to pay.