Refinance Car Loan With Bad Credit

Poor credit history shouldn’t put car loan refinancing beyond reach. We can help you lock in a new deal.

Bad Credit Car Loans Approved

Why people choose us to help them refinance

Refinancing can unlock better interest rates, get you access to competitive loan deals and save you money, so if you’ve gone to significant lengths to prove yourself as a reliable borrower, we can help you reap the rewards of refinancing.

We’ve helped many Australians across the country with bad credit refinance their car loans through our multiple flexible and understanding lending partners. Our experienced consultants help maximise your approval chances by matching you to your most suitable lender.

If you’ve kept up with your payments, got a pay rise or paid off some debt, you can start the process with us today.


Personalised service

We have a customer-first approach to service, so you’ll be front of mind when being matched to a suitable lender.


100% online

Forget paperwork and long queues: our processes are completely digital and available to people all across the country.


We do the hard work for you

Your consultant compares deals between specialist lenders to find the one which is most suited to you.

Features and benefits of car loan refinancing

Repay over one to five years

Extending your existing loan term can make your repayments more manageable, while shortening it can save you money overall.

Customise your repayments

Keep on top of your payments by scheduling weekly, fortnightly or monthly deductions. Lock in whichever works for your pay cycle.

No deposit needed

There’s no need to scratch around for a deposit. Our lenders allow you to borrow the full value of your car with nothing paid upfront.

Extra repayments accepted

There are no fees or charges for making additional payments with some lenders when you have the cash and want to pay your loan off faster.

Available to seasonal workers

You don’t need to have year-round work. If you’re a grape picker or working in the ski fields, you can apply for a loan through us.

Centrelink income accepted

If you’re an aged pensioner or single mum whose income is topped up by government benefits, these count as income towards your loan.

How to refinance your car loan

Bad Credit Car Loans Process

Apply through us

Get a quote online and tell us about your current loan. Once completed, you have the option to proceed with your application if you choose to.

Find your best match lender

Using our state-of-the-art technology, your consultant matches your application to the best-fit lender to give you a great shot at approval.

Get your application prepared

With a lender locked in, your consultant prepares your application and may request copies of your supporting documents to do so.

Be approved and drive away

Your consultant calls when you’re approved and emails you a loan agreement from your lender to sign so your funds can be released.

What are the benefits of refinancing?

If you’re not behind on your payments and have taken the effort to improve your credit history, you may opt to look for a better deal.

Refinancing your loan comes with many perks, including:

Better interest rates

You can negotiate a lower interest rate if you’ve been making timely repayments on your bad credit car loan. Lenders charge higher interest rates to borrowers who are seen as a greater risk, so if they see you as a safer pair of hands, your rate is likely to be better.

Reduce repayments

If you want more room to move in your budget, you can reduce the size of your repayments by extending your loan term. However, this will see you paying more in interest overall.

Lower fees

Bad credit loans usually come with higher fees, so if you can show some improvement in your borrowing history and a healthier credit rating, you can unlock a cheaper overall loan.

More options

Switching loans can allow you to get access to a lender with better features. For example, you may be able to refinance with a lender who won’t charge you as much in ongoing costs as your current lender.

Top tips for improving your ability to refinance

Pay on time

Avoiding late payments will have a positive effect on your credit rating. Being able to show a lender your credit rating has improved will put you in a better position to refinance when the time is right.

Keep your car in top shape

You’re more likely to get approved for a new loan if your car has held its resale value and is in good nick. Simple things like washing and detailing your vehicle, limiting its mileage and not skipping scheduled services can keep your car looking top-notch and minimise the likelihood of negative equity (owing more than it’s worth).

Have a steady income

Consistent and regular work is key to improving your approval chances. So, showing you’re sticking at a job and taking home a steady wage will boost a lender’s confidence in your case.

Stick to a budget and save

Having a budget will mean you’re less likely to fall behind on your payments. Lenders also like to see you have been able to keep on top of your repayments and have a solid savings history, so sticking to this can reduce expenses and allow you to stash some cash.

Your questions about car loan refinancing

Technically, you can refinance your loan as soon as it’s settled. However, waiting 12 months or longer will give you time to build up a solid on-time payment history which can bolster your approval chances. Switching loans frequently may cost you in early repayment fees, if they apply to you, and isn’t usually a great look to prospective lenders.

Yes – you’ll have a better chance of getting refinanced if your vehicle is worth more than what you currently owe on it. Alternatively, if you owe more than your car’s value, you’ll need to take out a bigger loan or pay a deposit. There are some websites which offer free vehicle valuations based on basic details such as age, make and model.

Yes – however, making timely loan repayments will have a positive impact on your credit score. Likewise, late or overdue payments will have a bad effect on your credit rating.

Yes – you can be approved under a formal debt arrangement or after you’ve been discharged from bankruptcy. Your options for loans under a Part IX debt agreement will be extremely limited, but some of our niche partner lenders will be able to work with you.

Yes – you can apply to refinance with your existing lender. They’ll want to see a good payment history and some repair to your credit score. However, staying put isn’t always be the best option. Applying through us gives you the best chance at obtaining the most suitable deal based purely on the numbers.

No – unlike home loan refinancing, you cannot redraw your car loan if you’re ahead on your repayments.

Yes – but you’ll need to earn some form of income to be approved. This income may come from investment dividends, royalties or stable and consistent government payments, such as a disability or aged pension. If you solely collect unemployment benefits, such as JobSeeker, you won’t be approved.