Bad Credit New Car Loans
Don’t put the brakes on buying a new car because of bad credit history. We can help you get a second chance at car finance.
Don’t put the brakes on buying a new car because of bad credit history. We can help you get a second chance at car finance.
If you’re dreaming of being behind the wheel of a car but think poor credit is holding you back, we can help you. For more than a decade, we’ve helped drivers across the country get back on the road.
We partner with understanding lenders who assess your current situation and look beyond your credit score. Our fast application processes mean your car could be out of the showroom and in your garage in a flash, so you can apply today to get the wheels in motion.
Our application process is fully online, meaning your car is only a few clicks away no matter where you are in the country.
Getting pre-approved gives you a clear indication of what you can borrow, strengthening your hand when negotiating a car price.
Your consultants do the hard work for you, from matching you to a suitable lender to preparing the necessary paperwork.
Forget large deposits and significant upfront payments: our lenders allow you to borrow the full value of your new vehicle.
No credit score, no problem. You can apply if you have no borrowing record, with lenders instead focusing on what you earn and spend.
If you’re a small business owner with bad credit, you’re able to be approved, even with a low doc auto loan.
Whether you’re working casually, seasonally, for yourself or a combination, our lenders make buying a car achievable.
Allowing you to customise your repayments with weekly, fortnightly or monthly instalments lets you keep on top of your payments.
You aren’t limited to passenger cars – you can purchase utes, vans, caravans, motorbikes and even boats.
You’ll be given the option to apply once you’ve submitted a quote. If you want to discuss your options first, though, your consultant will get in touch.
Your consultant uses our state-of-the-art software to find a lender best suited to you with your application information and confirm it with you.
After your lender is locked in, your consultant will begin putting your application together. They may ask for extra documentation, so keep your phone close.
Your consultant will email across a loan agreement for you to sign after you’ve been approved. Once it’s returned, your funds can be released.
All applicants must meet the standard eligibility criteria which include being:
Your consultant will need copies of supporting documents when preparing your application. These include:
Know how much you can afford to borrow. Your consultant will run an affordability check to work out your borrowing power based on variables such as income and regular expenses.
You’ll have to pay on-road costs such as registration, insurance and stamp duty. You can get the option to roll these costs into your loan with some lenders, but you should budget around them if you choose not to.
Paying any debts or unpaid defaults will improve your odds of approval, even if you’re applying for a bad credit car loan. The less debt you have behind you, the less of a risk you’ll pose to a lender.
Whether to buy new or second-hand is a major dilemma if you’re shopping for a car. Some of the benefits of purchasing a new vehicle include:
Fewer services
Your car will require fewer services in the first few years. Most car manufacturers will schedule regular vehicle services for around the six-month or 10,000km mark.
Greater technology
The software inside cars is rapidly advancing. Used cars may not have the high-tech in-built features that newer models offer, so you might be able to benefit from this with a current model purchase.
Better interest rate
Even though the sticker price on a new car will be higher than a used car, the interest rate will be lower. This allows you to save money on interest over the life of your loan.
Lower running costs
New cars are cheaper to run and often cost less to insure. For example, it is likely to be more fuel-efficient than a second-hand model.
Warranty
One of the advantages is your vehicle is covered by a warranty. Warranties range from three to seven years depending on the manufacturer and cover you for most faults during that period.