Second Chance Loans

The Aussie Chief can put you in touch with an experienced finance broker that can piece together a car finance solution and give you a second chance.

Below are some guidelines to see if you qualify for a Second Chance Car Loan:

Proof Of Identity

• Australian resident or holder of visa or entry rights beyond term of Car Loan
• Australian driver's licence
• Minimum age of 18
• 100 point identification
• Guarantors are required for company and trust applications

Proof Of Income & Employment

• Full time employment but must not be on probation, or permanent part time with a minimum of 20 hours per week and having been employed for at least 12 months
• If self-employed must provide proof of income. Usually this can be provided by tax returns, an accountant's letter or other substantive means
• If employed on a casual basis, must have been employed for a minimum of 23 months and also be working 20 hours per week

If Under The Age Of 23

• Purchase price of vehicle limited to $20,000
• Full comprehensive insurance paid for a year

Stability Of Applicant

These idems may be considered as part of the finance application:

• Residence
• Trade qualifications
• Marital status
• Dependants
• Length of employment

Credit History

Where there have been defaults, the following assessments will be made:

• Type of default
• Age of default
• Amount of default
• History of defaults and whether we can ascertain if future defaults are likely to recur

Unpaid Defaults

If a default is disputed, we must be provided with the basis of the dispute and proof that it is being disputed. In all other cases, we would be looking for a good reason as to why the default has not been paid or is under a satisfactory repayment arrangement. We will also grade the severity of the default by the amount, the age and the type of a default.