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We are your second second chance car loan experts! We'll help find you a solution even when the banks have said no

If you’ve had credit history problems in the past, you might easily be eligible for car finance today. At BadCreditCarLoan.com.au, we believe everyone deserves a second chance. Many reputable Australian lenders specialise in giving you that second chance - provided you can show them you’re in a more solid financial position today. That’s where we come in - we work hard to make second-chance car finance easy. Get a quote today!

Why finance through BadCreditCarLoan.com.au?

Low Interest Rates

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Fast approval

Our trained consultants will structure your finance for fast approval and minimal red tape

Reputable Australian Lenders

Choose leading finance products from our select panel of reputable Australian lenders

100%, NO-Deposit finance available

No deposit? No problem! We can help you finance the total amount for your new vehicle

You´re in complete control

We put you in the driver’s seat. You choose the car finance that suits you best

Flexible structure & terms

Terms from 12 to 84 months with fortnightly or monthly repayment options

How to Apply for a Bad Credit Car Loan

Being Honest is Key

You must be absolutely honest in your application, no matter how negatively you think some of the facts about your past credit history might seem. It’s essential that a prospective lender see a complete and honest car finance application. The details you present in your application will be cross-referenced against your financial records, and the level of review into your records is reasonably detailed. If any serious discrepancies are discovered between your claims and your financial records, this will erode the trust any lender needs to develop in you to approve any finance application. No matter how bad you think an honest presentation of the facts will look, embellishing the truth always looks worse.

Fixing Your Credit File

Let us help you find out how to access your credit file and see if it is accurate. We also have a no credit check car loans process you can try, for those who feel uncomfortable with their file being accessed at this time. We can help you develop strategies to improve your credit file overall, such as by clearing up any errors, or implementing strategies aimed at repairing any unresolved issues. A little simple remedial action here can go a long way to improving the presentation of your credit file, and the viability of your loan application. Unfortunately, if you have any form of current bankruptcy, most reputable lenders won’t consider your application for vehicle finance. If the bankruptcy is discharged, however, usually after a minimum period of six months, vehicle finance proposals could again be considered by lenders. Most other forms of bad credit don’t automatically disqualify you as a candidate for car finance, so it’s definitely worthwhile talking to us about your specific situation – everyone is different, and our knowledge of lenders’ key approval criteria can provide vital insight into how best to structure your application. Our professional finance consultants can help you put together a car finance application designed to meet reputable lenders’ key approval criteria and tailor-made for fast approval.

Banking Conduct and Resolution

You can help structure your bad credit car finance application for success by staying on top of your personal finances. Bank statements are usually required in support of your application, so make sure those statements demonstrate your bank accounts never go into an overdrawn balance. Always ensure your account maintains sufficient funds to cover regular payments, such as direct debits. It’s even better if you can demonstrate that you have the capacity to save – even if only a small amount each month. To a prospective lender, regular savings represent additional income capacity that could be used to service a new car loan. Most reputable Australian automotive financiers will need to review your bank statements for the past six months, and if your account has become inadvertently overdrawn in that time, most financiers will need to see a minimum period of three months when this hasn’t happened.

Other Loan or Credit Card Conduct

Prospective lenders need to see evidence that you treat your current debt obligations seriously. If you have other loan or credit card debt at the time you submit your bad credit car loan application, most lenders will want to see those records as well. Ideally, your records would show that you make you repayments on time and, in the case of credit card debt, by an amount greater than the minimum required monthly payment. However, in some circumstances, with appropriate reasons and supporting evidence to back up your claims, less than perfect loan or credit card conduct won’t automatically disqualify you from having your bad credit car loan approved.

Your Employment Status and History

If you are unemployed it is increasingly difficult to obtain car finance. Lenders look for stable employment – whether it be casual, part-time or full-time. In the case of casual employees, stability in both job and industry is a distinct advantage. A track record of 12 months or more would be ideal. This provides evidence of what your future income in the job, and hence your capacity to meet your repayment obligations, is likely to be. For part-time and full-time employees, it is generally required that you have worked beyond any probationary period stipulated in your employment contract, and again, a stable history in both job and industry is viewed as an advantage by prospective lenders.

Residential Arrangements

This may seem outwardly irrelevant, but to lenders seeking to assess applicants for stability, the more you move house, the less stable you appear. Of course, there may be a very good reason for your mobility – you may have been promoted to an office in a different city, or your employer may have relocated. If this is supported by evidence, such as a letter from your employer, such movements won’t affect your loan application. However, in general, living in a transient way generally is seen as a higher risk factor than living in comparative stability. If you are planning to lodge a vehicle loan application in the future, this is a factor you certainly should consider. You can read more great bad credit car loan tips here.