Bad Credit Car Loans Adelaide
Even with bad credit, a car loan in Adelaide could still be within reach. Whether you're in Salisbury or Stirling, we're ready to help you find a solution.
Whether you’re heading into the CBD from Elizabeth or making the trek out to the Barossa Valley, life in Adelaide is a lot easier with your own set of wheels. For many who’ve struggled with their credit in the past, though, getting a loan to help you buy your next vehicle can seem impossible when you look around at the big banks.
If bad credit is making car finance feel out of reach for you, there are lenders out there who can help. We work with flexible financiers who can look past your credit score and instead focus on other aspects of your profile, such as your income and ability to repay your loan.
How to get a bad credit car loan in Adelaide
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1
Start your application online
Let us know about yourself, your current financial situation and the amount you're looking to borrow. You can do this from anywhere in Adelaide, from Gawler to Glenelg.
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2
Get your documents together
We'll need to see a few documents to verify your identity and confirm your financial position. Having these ready before you start can help keep things moving.
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3
Talk to your broker
Once we've got what we need, your broker will search our lender panel for the options that best match your situation and reach out to walk you through them.
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4
Choose your car
If you haven't already found a vehicle, our in-house car broker can help you track one down through our national dealership network, including options right here in South Australia.
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5
We take care of your application
When you're ready to proceed, your broker will put your formal application together and lodge it on your behalf with the most suitable lender.
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Approval and settlement
Formal approval can come through as soon as one business day after you apply, so we'll handle the settlement of the deal soon after.
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7
Drive away happy
Once everything is signed off, your new car will be ready and waiting for you!
Why Us?
Fast loan approval
We work hard behind the scenes to match you with a suitable lender and have your loan approved and funded in as few as 48 hours.
100% online
Where ever you are across Australia, you can apply for a bad credit car loan using your laptop or even a smartphone.
Trusted brand
For more than a decade, we've been helping borrowers with bad credit get approved for their car loans across Australia.
How do bad credit car loans work?
A bad credit car loan is a type of secured finance that lets you purchase a vehicle and pay it back in regular instalments over an agreed term, even if your credit history has had its share of bumps along the way. The car you buy acts as security for the loan, which gives lenders greater confidence in approving applications for both new and used vehicles.
What makes bad credit lenders different to the major banks is how they assess your application. Rather than your credit score sitting front and centre, they’ll place less weight on it and instead focus on your current income, your regular expenses and whether the repayments fit comfortably within your budget right now.
Loan terms typically range from one to seven years in length, with repayments available on a weekly, fortnightly or monthly basis to suit your pay cycle. Longer terms reduce your regular repayments but increase the interest you’ll pay over the life of the loan.
How much can I borrow for a bad credit car loan in Adelaide?
Taking out car finance with bad credit in Adelaide could give you access to a loan as small as $5,000 or as large as $150,000, depending on your profile. Here are the factors your lenders will consider:
- The nature of your bad credit and how recently it occurred, such as whether you have a minor default or something more serious like a bankruptcy
- Your income and what your regular weekly or monthly expenses look like
- Any outstanding debts or existing financial commitments you’re currently managing, such as other loans
- The type, age and condition of the car you’re looking to buy
- The lender you end up with, as maximum and minimum loan amounts differ across our panel
- Whether you own property in SA or anywhere else in Australia, which can work in your favour
All applications go through a lender assessment, so your borrowing power will be unique to your situation. Get in touch with us today and we can help you navigate the process of applying for a car loan with bad credit.
Bad credit car loan eligibility and documentation
Eligibility
- You must be 18 years of age or older
- You must be an Australian citizen, permanent resident or eligible visa holder
- You must be employed and earning a stable income that supports your car loan payments, which can start from as little as $480 per week
- You mustn’t currently be bankrupt
- Your chosen car must satisfy your lender’s vehicle eligibility criteria
Documentation
- A valid driver’s licence, front and back (passports can also be accepted)
- Your two most recent consecutive payslips
- 90 days of bank statements and/or Centrelink income statements
Bad credit car loan costs in Adelaide
There are a handful of things that’ll shape how much your bad credit car loan ends up costing you:
- Interest rate: even a minor difference between rates can add up to hundreds overall, if not more. Bad credit loans will come with higher rates than standard.
- Loan fees: most bad credit car loans come with an establishment fee and ongoing monthly fees, which will also beef up the cost of your agreement.
- Loan amount: the larger your loan, the more interest you’ll pay, as it’s calculated on an ongoing basis centred on your balance.
- Loan term: opting for a shorter term will increase your monthly payments, but it could also significantly reduce the interest you’ll have to pay.
Here’s what a $35,000 bad credit car loan repaid monthly over five years would look like across a range of interest rates:
| Loan amount | Loan term | Interest rate | Monthly repayment | Total interest paid | Total repaid |
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| $35,000 | 5 years | 12.00% p.a. | $779 | $11,713 | $46,713 |
| $35,000 | 5 years | 14.00% p.a. | $814 | $13,863 | $48,863 |
| $35,000 | 5 years | 16.00% p.a. | $851 | $16,068 | $51,068 |
| $35,000 | 5 years | 18.00% p.a. | $889 | $18,326 | $53,326 |
| $35,000 | 5 years | 20.00% p.a. | $927 | $18,326 | $53,326 |
Calculations and interest rates are for illustrative purposes only and exclude loan fees and other charges. Interest rates shown aren't necessarily reflective of the rates you'll receive on your bad credit car loan.
Bad credit car loans Adelaide frequently asked questions
Can I get a car loan in Adelaide if I'm unemployed?
Yes, it's possible to be approved for a car loan while unemployed, provided you're earning income from an eligible source. Centrelink payments like the Age Pension, Disability Support Pension and Carer Payment can all be considered as income on your application. If you have no income at all, though, approval is virtually impossible.
Am I able to apply for a car loan with my partner?
Yes, applying jointly with a partner can strengthen your application, particularly if they have a stronger credit history or higher income than you. Keep in mind that both of you will be equally responsible for the loan, so it's worth having an honest conversation about the financial commitment before you apply together.
What happens if the car I want to buy is outside of Adelaide?
That's no problem at all. Bad credit car loans can be used to purchase vehicles from anywhere in Australia, whether that's a dealership in Sydney or Darwin. The vehicle will simply need to meet your lender's criteria around age and condition, regardless of where it's located.
Can I finance a car from a private seller in Adelaide as well?
Yes, bad credit car loans can be used to purchase vehicles from private sellers as well as dealerships. Whether you've found something through a local Facebook Marketplace listing or spotted a car in a driveway in Norwood, your loan can be used to fund the purchase provided the vehicle meets your lender's eligibility criteria.