Guaranteed Car Loans With Bad Credit
We make your road to bad credit car loan approval a smooth one, even if the path is a little rocky.
We make your road to bad credit car loan approval a smooth one, even if the path is a little rocky.
Having a car to get you from A to B is one of life’s necessities and a bad credit rating shouldn’t stop you from getting behind the wheel. While there are no 100% guarantees in the bad credit car loan process, we’re here to help make things easier when it comes to purchasing your vehicle.
We partner with lenders who can get you back on the road. By following some of our tips and applying with us, you can accelerate approval of your car loan.
Once you complete your application, we get to work matching you with a suitable lender. We can get approvals within 24 hours and the funds to you or your seller within 48 hours.
The entire application can be completed online, even using your smartphone, so you can do the whole process from the comfort of your own home.
With more than a decade of industry knowledge, our consultants have unrivalled experience in getting your bad credit car loan approved.
You can tailor your loan to suit your needs. Take between one and five years to pay off your car loan to make your repayments manageable.
Whether you’re working full- or part-time, self-employed, a seasonal worker or receiving an alternative income, we’ll work with you to find a suitable loan.
Our lending partners will allow you to borrow up to 100% of the total value of your new set of wheels. Some will even roll in insurance, rego and other on-road costs.
You can also choose to pay a deposit upfront to reduce repayments and your overall costs if you find yourself with enough savings to do so.
You can opt for a brand-new or second-hand car up to 20 years old bought at a dealership or privately, giving you more options to choose from.
Some of our lending partners will let you pay off your loan earlier than planned without incurring costly penalties, allowing you to reduce your interest bill.
We believe in giving people a second chance. Bad credit history, past defaults or even bankruptcy doesn’t have to mean it’s the end of the road.
We partner with a range of understanding lenders who work with you to get you approved for the car you need.
While there’s no such thing as guaranteed auto financing, we can 100% assure applying for bad credit auto financing is straightforward with us.
After sending us a quick quote, one of our consultants will call to discuss your options and what you need.
Applying allows your consultant to match you with one of our specialty lenders. From there, we’ll guide you through the approval process and prepare your formal application.
Our approval times are fast-tracked, so you’ll find out in one business day whether your bad credit car loan has been approved.
Once your loan is approved, your consultant will send across a digital contract for you to sign. From there, the loan funds will be released and you can drive away.
No – lenders won’t offer you guaranteed approval on bad credit car loans. However, we make it much easier for applicants with more complicated financial histories to gain loan approval. We partner with a range of lenders who are willing to work with your financial situation and find a deal to fit your circumstances. We can help the following customers achieve loan approval:
Defaults
Having defaults stuck to your credit file may reduce your finance options, but it doesn’t rule them out entirely. We partner with a range of lenders more interested in your current ability to pay back a loan than your credit score.
Discharged bankruptcies
Being an ex-bankrupt or under a Part IX debt agreement can close off many of your finance options, especially from the big banks. We can help you access the financing you need by looking at your current situation and finding you the right deal to get back on the road.
Earnings via Centrelink benefits
Borrowers receiving long-term and ongoing government benefits, such as disability or aged pensions, can find it tough getting a lender to hear their case for a loan. We partner with financiers who take these payments into account when determining your regular income.
Casual or short-term employment
Most lenders require you to have consistently worked for the same employer for more than a year. We partner with a range of lenders who are more accepting of your shorter-term employment status.
There are some things you can do to improve your chances of getting the green light. Some factors which will increase your chances of approval include:
Stable income and employment
Lenders will want to know that you can manage the agreed repayments over the life of your car loan. Having a steady job with a regular income will make you more attractive to lenders.
Consistent residential history
Lenders are looking for borrowers with stability. Being able to prove you have a strong residential history means costs such as weekly rent are unlikely to fluctuate, ensuring you can afford your loan repayments.
Affordable loan amount
Be realistic about how much you can afford to borrow. While most lenders offer loans of up to $50,000, you’re likely to be approved for a lesser amount (although it depends on your situation and interest rate).
Keeping your spending in check
Lenders will want to see that you’ll be able to make your repayments without it becoming a financial burden. Proving you’re sensible with your money can be looked upon favourably by lenders.
To apply for a bad credit car loan, you must be an Australian citizen or resident, over 18 years old and earning a regular income.
Estimate your current living expenses and liabilities, then work out a rough calculation of how much you might be able to afford to borrow and repay comfortably.
Under a bad credit car loan, most lenders could charge you higher administration fees or penalties for late payment, so you should be mindful of these.
Ensure your most up-to-date personal documents, such as bank statements, payslips and driver’s licence, are on hand before starting an application to avoid delays.