Bad Credit Car Loans Melbourne
For more than ten years, we’ve been matching Victorians with lenders who help them secure fuss-free bad credit car loans.
Why Melbourne drivers choose Bad Credit Car Loans?
Most households in Melbourne and greater Victoria have a car in their driveway. In fact, Census figures from 2021 show more than 75% of Victorians have at least one vehicle at home. However, if owning your own car seems out of reach due to a history of bad credit, we’re here to help you take back the wheel.
We partner with specialist lenders who can get even the trickiest of deals approved, wherever you live. Regardless of whether you’re living in the heart of Melbourne, in Dandenong or as rurally as Horsham, we can help you get a bad credit car loan.
Service Australia-wide
You can apply no matter where you live. We help people residing in big cities right across to small, rural towns.
Customer satisfaction
Helpful, prompt and a pleasure to deal with; that’s what 98% of our customer service feedback tells us.
Completely online
There’s no need for bundles of paperwork, as every step of our process is online. You can even apply using your smartphone.
The benefits of bad credit car loans for Melbourne locals
Customise your repayments
We want your regular payments to be manageable, so you’ll be able to choose from weekly, fortnightly or monthly repayment options.
Borrow up to $50,000
We’re partnered with lenders who’ll let you borrow up to the full cost of your new car, plus any on-road costs such as registration.
Centrelink accepted
Our specialised lending partners work with those receiving a diverse range of Centrelink payments, including single parents.
Buy brand-new or second-hand
You’re not limited to only buying a newly-minted car; new or used vehicles are available, expanding your options when surveying the market.
Flexible loan terms
Having between one and five years in most cases to pay off your loan allows you to tailor your payments to suit your financial circumstances.
No deposits
You’re not required to pay a deposit upfront on your loan, saving you the headache of coming up with a lump sum payment.
How does the application process work?
We make applying for a car loan as easy as possible, especially when you have a few dents in your credit score. Our team of experienced consultants will walk you through our fully-online application process, which takes a few minutes to complete.
You can even do it on your smartphone, meaning you can apply for a bad credit car loan whether you live in Dandenong, Mildura or the Melbourne CBD. Check out our step-by-step guide to our process of helping you get approved for your loan.
Speak to your consultant
Talking to one of our expert consultants is the best way to work out your finance options. Jump onto our website and do an obligation-free quote and we’ll be in touch.
Submit your documents and application
Once you’ve decided to apply, our technology matches your application to a lender which best meets your profile. Your consultant will talk you through the process and the documents you’ll need.
Get formal approval
We aim for same-day outcomes, but they can vary from case to case. After your consultant submits your application, sit tight and wait for the green light.
Get your keys
When your application gets the all-clear, your consultant will send across a loan contract and a consent form. Sign these, return them and your funds will be released.
Bad credit car loans Melbourne
What documentation do I need to provide when applying?
Having your documents ready to go when applying for a new loan is a crucial step in fast-tracking your approval. If you’re in Melbourne and you’re applying for a second credit car finance, your consultant will ask you to submit several key documents to prove your identity, income and expenses.
Your identity
You’ll need to supply:
- Copy of your current driver’s licence (front and back)
- A valid Australian passport
Your income
You will be asked to supply:
- Two recent payslips
- Three months (90 days) of bank statements
- A tax return and ATO Notice of Assessment done within 18 months if you’re self-employed
- Centrelink income statements
Your financial status
Lenders may ask you for a rough budget or evidence of your spending habits, including:
- Any outstanding debts
- Personal loans and credit card limits
- Living expenses including rent, transport, groceries and more
How do I know if I am eligible?
You must be aged over 18 years old to apply for finance in Australia, especially for a bad credit car loan. There is no age limit to applying, but the older you are, the more criteria you’ll be expected to meet.
You must also be an Australian permanent resident or Australian citizen to apply in most cases. However, we also work with non-permanent residents looking to finance their vehicle purchases.
You don’t have to be working full-time to apply for a car loan if you have bad credit. We work with borrowers who are between jobs, working casually or self-employed; if you’re working consistent hours, you’ll be able to apply in most cases.
We require you to have some form of ongoing, stable income when applying for a loan of this type. Furthermore, what you have in savings will be taken into account but there’s no need to pay an upfront deposit.
We partner with specialist lenders to find ex-bankrupts or those previously under Part IX Debt Agreements finance. Our lending partners are more interested in what you can afford now, rather than revisiting past financial mistakes.