Bad Credit Loans

You’re here because your looking for bad credit loans?

You’re sick of being told no, but your unsure of the types of bad credit finance that are available to help?

Our clients tell us all the time just how frustrating this process can be. And the last thing your want to do is to get stuck with super high interest rates on no credit check loans. You’ve come to the right place!

It doesn’t have to be frustrating. Using our guide, you can get approved for finance even if you have credit issues. You might even save yourself a whole lot of money.

We help thousands of Aussies every month with bad credit loans, there is a solution to your problems!

Common types of bad credit loans:

Zero Percent Interest Isn’t All It’s Cracked Up To Be!

First, don’t be tricked into “zero percent” finance from dealerships. These kinds of “deals” always favour the “dealers”. We have seen a large increase in the number of dealerships offering this type of finance.

Zero percent finance can end up being more expensive in the long run due to the ‘clever’ ways the fees are included into the finance. News Corp Australia recently did some research on this topic – Zero Percent Interest Could Cost You More.

“A NEW car bought with a zero per cent interest rate can be dearer than the exact same vehicle purchased at a discounted price with a regular finance rate, a study by News Corp Australia has found.”

These loans cost more in total as the dealerships increase the total charges for the vehicle in order to cover the zero percent interest.

But even though getting zero percent finance through the dealer isn’t the best idea, you can definitely still get fast loans with bad credit so you don’t have to wait to make that purchase you want or need!

Be prepared to answer financial questions – Get your financial documents together

Our process is different to most brokers, we look at your financial situation and assess which lenders will likely accept your finance application. Then we make sure there’s only one application made to the lender who is most likely to approve your loan.

We’re putting you first, which is why we don’t offer no credit check loans, but we do do everything to minimise impact to your credit file. Doing a credit check means we can match you to a much better product than you could get without one!

If we don’t think we can help right away, we’ll tell you that upfront and help you to make a plan so that you can meet the lender criteria as soon as possible and get the loan you need.

This means that it’s more likely you’ll be approved for loans with bad credit the first time, minimising damaging hits on your credit file!

Before you find a broker to help, get your recent payslips, bank statements (especially those showing you’re paying off other debts) and records of payment histories for other debts together to give your broker.

This will mean we get your bad credit loan sorted fast!

Stop applying everywhere. It’s not helping.

Every single time you apply for credit, a record of the application is stored on your credit file.

Imagine for one second that you apply at 5 different lenders before you come to us, how hard to do you think it’s going to be to convince another new lender you’re not shopping around or being declined on all those applications. It simply doesn’t look good at all.

This is an example of a bad credit report with a lot of finance applications. In 12 months that’s 18 applications!

bad credit loans credit report

Bad Credit Report

Don’t feel tempted to test the waters and apply at lots of different lenders. Loans for people with bad credit will only put an application forward when we believe we can get you approved.

For information on credit reports the following government website is a fantastic resource – credit report info.

We specialise in specifically in loans for people with bad credit history, so we have access to a credit reporting portal as such we can get you a Free Credit Check.

If you don’t have a budget, get one quick smart.

Lenders and financiers are wary of lending too much money to someone with poor credit. If you’re in the market for a car loan, motorbike loan, home loan or any other sort of impaired credit loan, borrow what you know you can repay comfortably!

Understand how much money you have coming in and how much is going out, this will help you to know exactly how much you can afford. Without knowing this information even if you get approved, you’re more likely to fall behind and end up in a worse credit situation.

We recommend the following resources for setting up a budget MoneySmart, Tutorial: Excel Budget

Get help from an experienced bad credit loans broker

Loans for people with bad credit have been dealing with impaired credit finance for over 15 years, we have helped literally tens of thousands of Australian’s get finance when no-one else could.

Our experienced lending managers help people with poor credit get the best finance deal possible with the most flexible terms. If you’re stuck and unsure of what to do, contact us for a free quick quote.

We believe in second chances at finance, so why not enquire about your bad credit loan pre-approval options today!