Bad Credit Auto Loans: What’s Available in Australia?

Bad Credit Auto Loans: What’s Available in Australia?
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As you may have already noticed – the goal of this blog is to help make people in Australia aware of a variety of loan options that may exist for them, in spite of struggling with a poor credit rating.

Today, I want to focus on the availability of bad credit auto loans in this region of the world. Despite the fact that you have been denied loans in the past from banks or other lenders, this rejection does not mean that you are unable to get a loan through other means. This is because there are companies forming all across the country that offer loans to individuals who do not have strong credit.

These companies specialise in providing ‘second chance’ loans to individuals who need to purchase a car and cannot find financing through traditional lenders. In addition to supporting the needs of drivers with bad credit through auto loan approval, these groups also help you learn more about how to improve your application. Typically, these auto credit sources utilise a network of preferred lenders that are willing to work with applicants that have poor credit or those who are even working with a non-existent credit history.

Another benefit of working directly with these unique credit sources, is that you can receive guidance on what you can do to also work towards improving your credit. Through these auto loans, individuals can also reverse their poor credit score through proper loan management skills. For those drivers who require an auto loan, yet do not have any credit history – this is also a great opportunity to begin establishing a credit score and improving their options for other types of loans in the future.

Through these methods, Australian borrowers also need not worry about being given unsuitable financial terms. This is yet a further advantage of dealing with companies that are specialists in the industry of bad credit loans. Bad credit auto loan dealers are also more precise in helping you find a suitable financing arrangement that will best reflect your specific situation.

A feature that is often associated with bad credit companies that offer their services to individuals in their part of the world is the element of accessibility and ease as seen through their online sites. These features allow individuals the opportunity to search for loans online which are suitable for their situation as well as taking part in a fast pre-approval process. Through these quick quote applications, in minutes you can ascertain whether you will be approved as well as what types of loan advantages you can expect.

One piece of advice that I would like to share that is based on what I have learned from looking over several different sites that offer bad credit auto loans – is the importance of distinguishing which companies that have a stronger reputation in this industry. One facet of a ‘good’ site seems to be best reflected in the years of experience they have behind them.

Additionally, consumer reviews and ‘success stories’ can be examined and also held up against different companies to compare which is the better choice. While some companies who may claim to offer loans to everyone, although this may be true, sometimes their rates may be higher than others. So, once again comparing rates and terms through the online tools available across a range of sites can certainly help you to narrow down which company you may want to officially pursue.

Take a look for yourself at some of these companies and compare and contrast which organization may be worth examining further.


This company portrays itself as a ‘second chance’ car loan group. They work with many Australian lenders that are willing to help individuals which bad credit secures their loans. There is still, however terms that they outline that help drivers prepare for this process and are aware of what is expected of them. First and foremost, it is important to be able to provide proof of your current financial position, such as income supply and consistent employment.

BCCL, offer their services on your behalf and contact these lenders to relay your eligibility. The benefits of working with this company start with the fact that there is no deposit required to initiate the process and they help you obtain financing that will cover the full amount of your vehicle. Additionally, benefits include:

• Low Interest Rates ( you can choose interest rates that are among the lowest in the Australian market)

• Fast Approval (fast approval process as reviewed by trained specialists)

• Reputable Australian Lenders (you can choose products from a panel of reputable lenders in Australia)

• Flexible structure & terms (you can chose between various terms and loan options).

CARLOANS.COM offers up similar services to the previous group and also defines their services as bad credit loans. What appears to set this group apart from the others is that is it one of the few auto credit sources in Australia that does not require a credit check. Through a free assessment, this Car Loan company can provide options for you and your financing needs. The top 5 advantages of going with this group are listed as:

1. Fast approvals (usually within 24 hours)
2. Low rates and flexible terms
3. Range of lenders & products
4. Fixed repayments
5. Independent Advice

Additionally, you can use their online services to obtain a free online quote, which states that there is the potential to save almost $1,500 through this process. The company also works with a group of recognized lenders and can help you find the car loan that makes the most financial sense for you and your credit parameters.

Going into this process, you can have hope that obtaining an auto loan is in your future. Even if your credit score has a shaky past, you can regain hold over your credit situation while having the use of a new set of wheels this winter season. If these companies appeal to you, you can get in touch with them today and determine which will offer the better outcome for you.

  1. Availing a bad credit car loan is certainly not easy as lenders will be skeptical in dealing with people, who have defaulted elsewhere. However, some companies certainly have the contacts and can be expect to work out the best deals for auto loan applicants, who may have bad credit concerns.nn1

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