Bad Credit Car Loans No Guarantor
You can trust us to help you get fast approval on car loans without the need for a guarantor, even if you have bad credit. Start your application today.
You can trust us to help you get fast approval on car loans without the need for a guarantor, even if you have bad credit. Start your application today.
Getting car loan approval shouldn’t be like running through an obstacle course. That’s why we partner with lenders who remove some of the roadblocks standing between you and your approval.
There’s no need for guarantors, hefty down payments or long-drawn-out approval times, making applying for vehicle finance headache-free. Ensure a hassle-free application and approval process and apply with us today.
Our consultants have helped customers with poor credit gain approval on car finance for more than ten years.
Every step of our application process is fully online, allowing you to apply from a computer or smartphone 24/7.
Find the car you want and get pre-approved to strengthen your hand when negotiating its price.
No guarantor, no worries. You can finance your car’s total value with loans from $5,000 to $100,000, depending on your borrowing capacity.
Never fear if you’ve been rejected by a major lender or a big bank. Our lenders specialise in helping people with tricky credit histories.
Purchase a motorhome, a motorcycle, a ride-on lawnmower, a jet ski and much more with your bad credit loan.
Our lenders will work with customers with a variety of job statuses, including those who aren’t permanent but still earn a stable living.
Paying your loan across one to five years allows you to determine the speed and size of your repayments to help you manage them.
You can still unlock car finance even if you have a very bad credit history and your file is stricken with defaults, either paid or unpaid.
Take a few minutes to fill out on online quote form. Once submitted, one of our consultants will call you to talk over details and options.
If you choose to apply, your consultant gets to work matching your application to a lender who best suits you using our state-of-the-art technology.
Your consultant will know your lender’s requirements inside and out, so they’ll prepare your application to give you the best shot at approval.
Once your application has been given the tick of approval, your consultant emails your digital paperwork to sign and return so your funds can be released.
Scoring approval on a loan application can be a cause for celebration, especially if it means being able to buy a new car. However, if you’re worried having a poor credit history and no guarantor will make your path to approval trickier, don’t stress too much. Some of the ways to improve your approval chances include:
A steady income
You need money to make your repayments, so having consistent work will show a lender you can pay what you owe. They’ll check your borrowing power based on your income and regular expenses to ensure you are not overreaching.
Paying down other debts
The less you owe, the more you can borrow. Your lender will run a credit check when you apply, so it can be beneficial to clear some unpaid defaults or outstanding debts before you go for a loan.
Putting down a deposit
Making a down payment is generally a sign of a good borrower. A lender will be more inclined to rubber-stamp your application if you’re opting to put forward some of your own savings, should you be in a position to do so.
Picking a better car
Select a vehicle which has been well-maintained and held its value. Lenders will be more willing to approve your application for a lower rate if your car is worth more, as it gives them better security over your loan.
Rock-solid living arrangements
Lenders look for stability in borrowers. Showing a strong residential history is a sign your living costs, such as rent and electricity, will not constantly fluctuate.
Curbing spending habits
Before your lender takes the microscope to your bank statement, cut back on some non-essential spending, such as nights out and fancy dinners. If you can demonstrate healthy saving habits, it will work in your favour.
Double-check you qualify for car finance by reading over our requirements. Typically, you must be at least 18 years old, an Australian citizen or permanent resident and earning some form of regular income to be considered.
Know how much you can afford to borrow. Lenders will check your affordability against your income and other expenses so you don’t overextend yourself. While this is checked during the application stage by your consultant, it’s good to have a rough idea of what you can afford to take on each month before applying.
Ensure you have the relevant supporting documents ready before applying for a loan. You’ll need to provide your consultant with copies of your driver’s licence or passport, two recent payslips and 90 days’ worth of bank statements. If you receive government benefits, you can declare them through a Centrelink income statement. If you’re self-employed, you’ll need to provide your latest tax return or an ATO Notice of Assessment completed within the last 18 months.
Although you’re applying for a bad credit loan, your credit score will still play a role in determining what you can borrow. Lenders are less likely to grant approval if you have unpaid defaults for similar loans on your file, particularly if they’re recent. Even if you have a very bad credit score, paying defaults will show a lender you’re making an effort to improve your financial situation.
Petrol and regular servicing are all costs that need to be budgeted for when you buy a car. When you draw up a budget to check what you can afford to borrow, make sure to include running costs such as fuel, ongoing maintenance and regular services to avoid any shocks.