No Deposit Car Loans Bad Credit
Get car loans online with bad credit and no deposit. We can help you get quick approvals on financing without the need for upfront payments. Apply now.
Why customers choose us to help them purchase their next car
Finding money for a deposit on a car loan can be a daunting task, but it doesn’t have to be. We partner with specialist lenders who can get you in the driver’s seat without the need for a hefty upfront payment, even if you have bad credit.
Our dedicated consultants are experienced at finding the best car finance deals for our customers. Efficient and fast, we can have you approved and funded in as little as 48 hours, so don’t lose any more sleep and apply today.
Fast loan approval
Our consultants work around the clock on your application and strive to have your car funds released as soon as possible.
No impact on credit score
Our obligation-free quote means you can enquire with us and it won’t affect your credit score.
Taking the hard work out of applying
Leave the leg work to us. Our consultants find you the most suitable match among our panel of flexible lenders.
Features of bad credit car loans
Borrow from $5,000
You’re able to borrow the full value of your car from $5,000, with no deposit, for a new or used car depending on your income and expenses.
Available to Centrelink recipients
If you’re a single mother or aged pensioner on Centrelink, you can have your fixed government benefit factored into your income.
Easy repayment schedule
Scheduling your repayments weekly, fortnightly or monthly means you’ll be less likely to miss due dates.
Include your on-road costs
You can roll the cost of registration, insurance and stamp duty into the cost of your loan.
Flexible loan terms
Having the option of paying over one to five years allows you to set your preferred period over which to repay your loan.
No borrowing history
Our lenders focus on what you can afford, now rather than your lack of a credit track record, so you can be approved in this position.
How our car loan process works
Submit a free quote
Getting a quote also gives you the option to apply after, but if you’re not quite ready, a consultant will call you to gauge your interest.
Find a suitable lender
Once you’ve applied, your consultant gets to work matching you with a suitable lender using our high-tech software to give you the best shot at approval.
Have your application prepared
You can put your feet up as your consultant finishes your application. They’ll ask for some personal details, so keep your phone handy.
Wait for approval
You can receive approval within one business day. Once confirmed, you’ll be sent a contract to sign, after which your funds can be released.
What documents you’ll need to apply
When preparing your application, your consultant will need a copy of your current driver’s licence (front and back) or a valid Australian or foreign-issued passport. These serve as photo identification.
You’ll be asked to provide two recent payslips. If you’re self-employed, you’ll need to produce your most recent tax return or an ATO Notice of Assessment completed within the past 18 months. If you collect a fixed government benefit, you’ll need to provide a Centrelink income statement.
Lenders need to see a bank statement covering the most recent 90 days. This will provide evidence of expenses such as rent, school fees, transport costs and any other spending.
If you are servicing other loans, you will need to provide your consultant with a list of active debts in your name. This will also include any credit cards and their available limits.
Some lenders will require a letter from your employer confirming your salary and your position within the company. This may apply if you’re a casual employee.
What should I consider before taking out a loan?
Before you apply for finance on a vehicle you should consider several important factors including:
Borrowing amount
You may be tempted to overreach when applying for your loan. Picking an affordable, smaller loan amount will mean you can afford to pay off your loan over a shorter period.
Your repayments
Knowing how much you can afford to pay each week will help you avoid missing any payments. Making a down payment on your loan will reduce the size of your instalments.
Income stability
Your consultant will run an affordability check to ensure you can meet your repayments over your loan term. Under an affordability check, your consultant will draw up a rough budget including your income and expenses to make sure you have enough left over to cover your loan.
Early repayment fees
Making a down payment on your loan means you’ll avoid any early repayment or exit fees some lenders charge their customers. However, most lenders we partner with don’t charge these fees.