Bad Credit Car Finance

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Bad Credit Car Finance at reasonable rates is possible when you know how the loans market works. Our team of specialist brokers have years of experience understanding lending criteria, risk management and credit files so that we can offer you valuable insights into how you appear as a potential customer to our lenders.

We have secured Bad Credit Car Finance for all types of customers ranging from poor credit ratings to even customers who have already been turned away by the banks.

A Few Things You Should Know About Bad Credit Car Finance

Many people with a poor credit rating have usually experienced trouble paying a bill in the past, missed a couple of repayments on a loan schedule, or may have a default. This does not mean that they are a bad credit risk only that their loan application will have to include some additional information to help offset this history.

  1. You won’t be paying huge interest rates.

    Many people struggling to overcome bad credit convince themselves that the only way to secure car finance is to put up with a massive interest rate on their loan. This isn’t true. In fact, interest rates offered by our 30 reputable lenders start as low as just 6.94% p.a.

  2. The value of the loan is secured against your new asset – your car!

    With a poor credit rating and few assets, a lender will secure your loan against the value of the car you are intending to purchase. This ensures that the loan you are applying for is held against only the car. Securing a reasonable rate with manageable repayment schedules will help to keep your credit rating improving.

  3. Credit ratings only count for part of your application criteria.

    What you might be lacking in a strong credit history can be overcome with a range of other important factors such as your employment history, your savings history, and the combined wealth of any other assets you possess.

What you might be lacking in a strong credit history can be overcome with a range of other important factors such as your employment history, your savings history, and the combined wealth of any other assets you possess.

Find out your options for any city in Australia:

How I do I get a better loan?

Every lender likes to see a consistent employment history, ideally with a long tenure in a single position. For people employed on a casual basis, lenders will consider 12 months in your role or, for full and part-time employees, the successful completion of your probationary period (usually about three months).

A savings history says more about how you manage your income than you know! If a lender can see a consistent ability to live within your current means and put a little aside on a regular basis then this will significantly improve your chances of securing Bad Credit Car Finance.

It doesn’t matter how small the sum is, as long as you can show a regular deposit into a savings account then you will be ticking another very important box on your lender’s criteria.

Understanding your current financial situation is about more than just going over previous credit mishaps. It’s also about understanding your actual wealth.

To do this you will need to accurately value your total assets including things like property, other cars, computing equipment, boats, entertainment systems, etc. Everything you own counts as an asset on your loan application helping your lender to accurately understand exactly where your finances currently are.

Loans for People With Bad Credit will get your application approved fast. Trust us to know what the lenders want to know and get you on the road in that new or used car straight away.