Bad Credit Car Loans Chief
We are committed to providing our customers with access to Bad Credit Car Loans across Australia. Our primary goals are outlined below:-
- To produce high quality "up to date" Bad Credit information.
- To give you access to professional and experienced finance brokers.
- We use the world wide web to make this happen.
No Credit History?
Haven't had Credit in Australia?
You may be new to Australia or just haven't required any form of credit or finance to date. We have finance brokers ready to get you started with your first form of credit. Read more...
Prime Finance Options
Car Lease
A Car Lease (also known as a Finance Lease) enables a individual or business to have use of a motor vehicle. Ownership remains with the finance lender until the residual is paid in full. Visit 1300 Car Lease...
Hire Purchase
Commercial Hire Purchase is a business finance product where the customer hires a motor vehicle from the finance provider or bank for a set monthly repayment over a set term. Visit Hire Purchase Chief...
Novated Lease
The Novated Lease agreement is a 3 way agreement between the employee, the employer and the financier. Visit Novated Lease Chief...
Chattel Mortgage
A Chattel Mortgage is another option for Businesses looking for immediate ownership with the added benefit of claiming back the GST on the purchase price of the car. Visit Chattel Mortgage Chief...
Car Finance
Instant online car finance quotes for all finance options including Commercial Hire Purchase, Chattel Mortgage and Car Lease. Visit Car Finance Chief...
Bad Credit Finance Options
Second Chance Car Finance
Had a bit of bad luck and need a second chance? We have finance brokers waiting to help you out with your next car loan. Read more...
Bad Credit Car Loans
Do you have defaults or forgot to pay a bill? The Aussie Chief can give you access to experienced bad credit experts who can help you today. Read more...
Bankrupt Car Loans
Discharged from bankruptcy? We may have a car financing solution for you and get you back on the road in a new or used vehicle. Read more...
Low Doc/ Sub Prime Car Loans
Been in business for over 2 years and have no financials or supporting documents to prove your income? No worries, we have brokers ready to help. Read more...
Part IX or Part X Debt Agreements
Under a part IX or part X debt agreement? We give you access to finance brokers that may be able to help you. Read more...
Featured Finance Brokers
Tab One
Advance Car Loans
Advance Car Loans is quickly becoming one of Australia's leading online car finance brokers.
Advance Car Loans has access to a wide range of Australia's leading car finance providers and banks. Their company's service includes products with the following features:
- Low interest rates Australia wide
- No establishment fees
- No payout penalties
- Experienced and friendly staff
Bad Credit Car Loans
The Aussie Chief explains and provides information on this Second Chance Car Financing option "Bad Credit Car Loans", this includes
- What are credit defaults?
- How do I increase my chances of getting approved for a Bad Credit Car Loan?
- What types of Bad Credit Car Loans are there?
- What will the interest rate be?
- What will I need to apply for a Bad Credit Car Loan?
What are credit defaults?
When you enter into a finance agreement or credit contract such as:
- Telephone or electricity
- Credit Cards
- Car Finance
- Personal Loans
- Equipment Rentals or Finance
- Home Loans
Under the terms and conditions of the contract, you are required to make regular repayments to reduce the financed or plan amount.
Failure to make regular repayments to your lender as per your loan contract may result in the lender placing a black mark against your name on your credit report. Defaults are usually only placed on your credit history if you have gone without making the required payments for 2-3 months or more.
In most cases the lender will attempt to contact you first to sort out the payment delays informally. However if they can not find you or you are simply not able to make the required payments, a default may be placed on your credit report.
How do I increase my chances of getting approved for a Bad Credit Car Loan?
To improve your chances of getting approved for a Bad Credit Car Loan, you should consider the following:
- Putting in a deposit or trade in. This will reduce the risk for the finance provider or bank.
- Apply with a asset backed guarantor.
- Keep the age of the vehicle you wish to purchase under 7 years of age.
- Use a specialist finance broker who is experienced in Bad Credit Car Loans.
- Provide a savings history to the finance provider or bank.
- Having outstanding unpaid defaults often will go against you. Pay these out before applying for a Bad Credit Car Loan as most finance lender's and banks will not to lend to someone that they have had prior losses with.
- Don't provide false and misleading information to cover up your bad credit.
- Check your credit report CRA regularly.
- Visit Platinum Car Loans website as they have tips and requirements for Bad Credit Car Loans.
What types of Bad Credit Car Loans are there?
Most Bad Credit Car Loans are consumer based finance products but Bad Credit Car Loans can also be provided the following business related finance products:
- Commercial Hire Purchase
- Chattel Mortgage
- Car Lease & Finance Lease
- Novated Lease
What will the interest rate be?
Bad Credit Car Loans often have higher interest rates and fee charges than other car finance products. this is due to the perception of higher risk to the finance lender or bank due to your past credit history. Remember, nothing comes free and sometimes a "second chance" does come at a cost.
The terms and conditions of the Bad Credit Car Loan may also be more rigid for those with a bad credit rating. Before you sign the documentation. it is important that you analyse whether you can afford to make the monthly payments for the Bad Credit Car Loan as it should not be another debt that will overburden your finances.
What will i need to apply for a Bad Credit Car Loan?
The most important thing is to be honest and don't cover up anything. Other supporting information that may be required are:
- 3 months bank statements.
- Two most recent payslips.
- Copy of your drivers license.
- Consent for the finance provider or bank to check your CRA.
Want to talk to a Finance Broker?
Just complete the friendly enquiry form and we will have an experienced Bad Credit Car Loan consultant call you within a few hours.
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