I have bad credit, can I get a car loan in Australia?
Whether you have a bad credit reputation, such as an unpaid default or a settled Part 9 Debt Agreement, Debt Fix's consultants can help you understand all the options available. We work with a panel of reputable lenders who specialise in car loans for people with poor credit, and with our expertise we could help you find a suitable vehicle loan which suits your circumstances.
Call 1300 332 834 to speak to a Debt Fix Loan Specialist today or complete our contact form for a no-obligation assessment.
Bad Credit History Car finance
Having your own vehicle is often a necessity, especially if you're a trades person or have special needs. Most people don't have the cash up front to buy a car, so often a loan is needed for financing the purchase. Unfortunately, not everyone qualifies for a car loan from conventional lenders.
These days, it is all too common for loan applicants to be refused a loan. Many people are unaware they have bad credit. Whatever your situation, our expert team will help you.
What does bad credit mean?
When you make a loan application with a bank or other lender, they carry out a credit check to see if you meet their requirements. This allows them to see your complete credit file, including any missed or late payments on loans, credit cards or utility bills as well as any defaults, bankruptcies, debt agreements or other negative financial information that could suggest you might have trouble keeping up with your repayments.
If you have a bad financial history or a low credit score, this can make it difficult to get approved for a loan by some lenders. However, even if the big banks reject your application, there are many alternative lenders / finance providers who are quite prepared to provide the funds you need on flexible terms that you're happy with.