Bad Credit Car Loans
Thinking your credit history might affect your chances of getting a car loan?
BrightCredit helps Australians with poor credit, defaults or previous loan declines explore finance options with specialist lenders.
Looking Forward
More Ways to Get Moving
Having bad credit can make getting a car loan frustrating, especially if you’ve already been turned down. But past financial difficulties don’t necessarily mean your next car is out of reach.
Your circumstances today matter, and there may be options worth exploring. We can help you understand what’s realistic, with practical guidance and a focus on finding finance that fits your budget.
Different Starting Points
Does This Sound Like You?
Everyone’s credit history is different. Here are some common situations we work with.
1. Low Credit Score
Your credit score isn’t where you’d like it to be, and you’re unsure whether you can qualify for car finance.
2. Defaults or Missed Payments
You’ve had repayment difficulties in the past, but your financial circumstances may have improved since then.
3. Previously Declined
You’ve been knocked back for a car loan and want to know whether other options are available.
4. Past Bankruptcy
You’ve experienced bankruptcy and want to understand whether getting a car loan is possible now.
Behind the Lending Decision
The Car Has to Stack Up Too
With secured car finance, the vehicle matters as well as your financial circumstances. Its age, value and condition can influence which loan options are available.
You can explore your borrowing options before choosing a car, giving you a clearer idea of what to look for and what fits your budget.
Important Factors
What Shapes Your Car Loan Options?
Your credit score is only part of the picture. Your current financial circumstances also play an important role.
Income & Employment: How much you earn, the consistency of your income and your employment arrangements can influence your options.
Living Expenses: Everyday household costs help determine how much you can comfortably afford in repayments.
Existing Debts: Credit cards, personal loans and other financial commitments can affect your borrowing capacity.
Credit History: Lenders may consider previous defaults, missed payments and how long ago any difficulties occurred.
Loan Amount: How much you want to borrow can influence which finance options are available to you.
Deposit & Savings: Contributing a deposit can reduce the amount you need to borrow, although it isn’t always essential.
We're Here to Help
Make Your Next Application Count
When your credit history is complicated, knowing how to approach car finance can make a difference. We take the time to understand your situation and work out which options are worth pursuing before you apply.
We’ll handle the legwork, explain the costs and guide you through the application process. You’ll have someone looking after the details and keeping you informed along the way.
A Note From Tom
I’m Tom Raeder, a finance broker and founder of BrightCredit. I believe past financial difficulties shouldn’t define your future, and everyone deserves a fair go.
I’ll take the time to understand your situation, give you an honest assessment of your car loan options and explain what borrowing could mean for you.
My goal is to help you find a car loan that suits your circumstances and budget, while making the process as straightforward as possible.
I’m an authorised credit representative (CRN 580839) of Purple Circle Financial Services Pty Ltd, Australian Credit Licence 486112, and an MFAA Accredited Broker (Member 204039). You can verify my details on ASIC’s Professional Registers or view my profile on the MFAA Find a Broker directory.
Before You Make Your Move
Find Out Where You Stand
Whether you’ve found a car or you’re still looking, getting started is straightforward. Tell us a little about your circumstances and what you’re hoping to borrow.
We’ll review your enquiry and get in touch to discuss what may be possible.
More Information
Frequently Asked Questions
Not necessarily. Some lenders offer car finance without a deposit, although contributing one may improve your options and reduce the amount you need to borrow.
Possibly. Your interest rate will depend on your credit history, financial circumstances, the vehicle and the lender’s assessment. We’ll explain the rates, fees and repayments associated with any options available to you.
Making an enquiry with BrightCredit is different from submitting a formal loan application. If you proceed with a lender, a credit check may be required and recorded on your credit report. We’ll explain what’s involved before you apply.
Lenders commonly request identification, proof of income and recent bank statements. Additional information may be needed depending on your circumstances. We’ll let you know what’s required as you progress.