Bad Credit Car Loans Brisbane
Don't let bad credit hold you back from getting a car loan in Brisbane. From Redcliffe to Richlands, we work with lenders who are ready to help.
Brisbane’s population is booming and the cost of living has climbed sharply in recent years, making a reliable car even more of a necessity for those living throughout the city. Whether you’re commuting from Ipswich, heading north to Caboolture or just getting the kids to school in Calamvale, life in Brisbane is a lot easier with your own set of wheels.
If bad credit is making car finance feel out of reach, though, it doesn’t have to stay that way. We’re partnered with lenders who look beyond your credit score to find solutions for Brisbanites across a wide range of financial situations.
How to get a bad credit car loan in Brisbane
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1
Complete our car loan application form
Tell us about yourself, your financial situation and how much you're looking to borrow. This is done online, so you can apply from Toowong, Taringa or Tingalpa.
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2
Send us all the documentation
We'll need a few documents to verify your identity and confirm your current financial position before we can move forward.
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3
Your broker gets to work
Once we've got everything we need, your broker will go through our lender panel and call you to walk through the options that suit your situation.
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4
Find your car
Haven't found your vehicle yet? Our in-house car broker can utilise its national dealership network to help you track down the best car at a competitive price in Queensland or interstate.
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5
Have your application submitted
Happy with your deal? Your broker will put your formal application together and send it through to your lender while you sit back.
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6
Get formal approval and settle the loan
Formal approval can come through in as soon as one business day, with settlement taken care of on your end by us.
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7
Hit the road
Sign off, collect your keys and you're good to go.
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 allows you to buy a vehicle and pay it back in regular instalments over a set term, even if you’ve struggled with your credit score in recent years. The car you buy will act as security for the loan, which can improve your chances of approval compared to an unsecured loan.
The flexible lenders we work with who service Queensland and the rest of Australia assess your application differently to the major banks. Rather than letting your credit score do all the talking, they’ll put more weight on your current income, your regular outgoings and whether the repayments are something you can genuinely manage right now.
In terms of the loan itself, terms generally run anywhere from one to seven years, with five years being the most common. Most lenders will let you choose between weekly, fortnightly or monthly repayments to fit around your pay cycle, too.
How much can I borrow for a bad credit car loan in Brisbane?
Even as a bad credit borrower, you may be able to take out a loan for as much as $150,000, depending on your profile and how much you can afford. These loans can start from as little as $5,000, though, with borrowing power being determined by:
- What your bad credit looks like (minor non-finance defaults will be treated differently to bankruptcy)
- How much you’re earning
- What your regular expenses are, such as rent, groceries and bills
- Any existing debts or financial commitments you’re currently managing
- The age, type and condition of the car you have in mind
- The lender you end up with, as not all options will be willing to lend you the same amount
- Whether you own property, which can boost your approval chances significantly
All applications go through a lender assessment, so what you’re eligible to borrow will be unique to your circumstances. Get in touch with us and we can help give you a clearer picture of your borrowing power before you formally apply.
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 Brisbane
There are a few important things that’ll shape how much your bad credit car loan ends up costing you:
- Interest rate: lenders charge higher rates to bad credit borrowers to account for the greater perceived risk, so expect to pay more than someone with a clean credit file.
- Loan fees: most bad credit car loans come with an establishment fee and ongoing monthly fees. These can add a significant amount to your overall loan spend.
- Loan amount: the bigger the loan, the more interest you’ll pay, since it’s calculated as a percentage of your outstanding balance.
- Loan term: a longer term stretches out your repayments and makes each one smaller, but you’ll end up paying more interest in total.
To give you a sense of how your loan amount affects your overall costs, here’s what a bad credit car loan at 15.00% p.a. repaid monthly over five years would look like at a range of loan amounts:
| Loan amount | Loan term | Interest rate | Monthly repayment | Total interest paid | Total repaid |
|---|---|---|---|---|---|
| $10,000 | 5 years | 15.00% p.a. | $38 | $4274 | $14,274 |
| $20,000 | 5 years | 15.00% p.a. | $476 | $8,548 | $28,548 |
| $30,000 | 5 years | 15.00% p.a. | $476 | $12,822 | $42,822 |
| $40,000 | 5 years | 15.00% p.a. | $952 | $17,096 | $57,096 |
| $50,000 | 5 years | 15.00% p.a. | $1,189 | $21,370 | $71,370 |
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 Brisbane frequently asked questions
Do any lenders offer guaranteed car loan approval for bad credit borrowers?
No reputable lender in Australia can legally guarantee car loan approval, regardless of your credit history. Under responsible lending obligations, every application must go through some form of assessment. Any lender advertising guaranteed approval should be treated as a red flag. That said, lenders offering loans for borrowers with credit issues often approve applications that would be rejected by other financiers.
Can I get a loan for a motorbike in Brisbane?
Yes, we can help Brisbane residents finance motorbikes as well as cars. Whether you're after a commuter scooter for navigating Brisbane's peak hour traffic or something bigger for weekend rides out to the Sunshine Coast hinterland, our lender panel covers a range of vehicle types beyond just cars.
If I'm currently bankrupt, can I still apply for a car loan in Brisbane?
Yes, we work with lenders who can consider applications from both undischarged and discharged bankrupts in Brisbane and across Queensland. Approval isn't guaranteed and all applications are subject to lender assessment, but it's worth getting in touch to find out what may be available for your situation.
Can I buy a used car from a private seller in Brisbane with a bad credit car loan?
Yes, bad credit car loans can be used to purchase vehicles from private sellers as well as dealerships. Whether you've found something on Gumtree or Facebook Marketplace, your loan can be used to fund the purchase (provided the vehicle meets your lender's criteria around age and condition).