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Steer Your Finances With Bad Credit Car Loans

August 9, 2018 10 minute read
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Daniel Wessels Avatar

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Daniel Wessels

Steer Your Finances With Bad Credit Car Loans

What is a Car Loan?

There’s nothing like having the freedom to just hop in your car and start driving whenever you want to. Destination unknown. Sure, public transport can get you from point A to point B. However, having the ability to stop wherever you want along the way, sing as loud as you want and go at the speed you want to is unbeatable.

Unfortunately, not everyone has the luxury of owning their own freedom car no matter how badly they might want one. Limited finances, bad credit, restricting circumstances. Whatever the barrier is that is standing in the way of you and your open road, we are here to help you knock it down.

Jacaranda Finance is ready to help. We know a lender or two that are ready to help everyday Aussies find the lenders they need. So, apply in minutes and we’ll do our best to refer you to one of our lender-partners. Bad credit car loans could help put your bad credit troubles in the rearview mirror as you drive towards a stronger financial future in your brand new car. At Jacaranda Finance, we’re all about making sure the little guy is taken care of. That’s you. You, your information and your trust are always safe with us when applying with our lender-finding service.

Can I get a car loan if I have bad credit?

Getting a car loan when you have bad credit can be a challenge for some people. Yet, there are some bad credit secured loans available that are regularly used by those who have been knocked back repeatedly by banks and other lenders due to their poor credit history, bankruptcy or part 9 debt agreements.

Although Jacaranda Finance doesn’t offer car loans directly, our trusted lender-partners are ready to give you a fair chance at finding your dream vehicle. Apply with us and we will take out the hassle of endless searching and applying by connecting you to the right lender – it just takes one application!

Better yet, our lender-partners offer bad credit car finance from anywhere between $8,000 to $100,000. So, whether you’re wanting to find a pre-loved gem just to get you from A to B or you’re after some luxury wheels to take you wherever you want to go, we have you covered.

All of our lender-partner’s bad credit car loans are secured. This means that you can use the vehicle that you are buying as security for your loan. Therefore, if you stop making your loan repayments and default on your loan, our lender-partner may repossess your car and sell it to recover the funds you owe. Don’t let this scare you, though. As long as you keep up with your minimum repayments, your car loan will be paid off in no time and you could be looking at a much more impressive credit score!

How do I apply for a car loan?

Applying is easy. Step one is to jump on our website. So, congratulations, you’ve already completed the first step without even meaning to. Told you it was easy! Now all you need to do is scroll up to the top of this page (when you’ve finished reading, of course) and use the loan calculator to get started with your application.

Just use the slider to tell us how much you’re wanting to borrow between $8,000 and $100,000. Then, select your repayment period from 2-7 years. We’ll then tell you how much you can expect your bad credit car finance to cost. This is just so you have an idea before applying. When we get back to you with our referred lender that repayment amount may change. All costs are subject to individual lenders and their rates. If you’re happy, click Apply Now and we’ll take you to our online application form.

The application form is super easy to fill out and should only take about a few minutes. We’ll just ask some basic questions regarding your financial situation and employment status. Then we’ll do our best to match you to the right lender. If you get stuck on anything while filling out your application, feel free to give us a call on 1300 189 823. Otherwise, check out our FAQ page for all the answers you are looking for.

How it Works

It may seem slightly too good to be true that you could score yourself a car loan even with bad credit. Well, we’re telling you it’s not. With our comprehensive lender-finding service, you can be paired with a lender that is ready to give every Aussie a fair go.

Instead of taking one look at your credit report and moving on to the next application, our lender-partners can dig deeper into your current financial situation. With the introduction of comprehensive credit reporting, other lenders are now able to look more closely at your financial behaviour since your bad credit score, rather than just seeing the score itself. This means they can look at how you’ve been handling your money over a certain period of time. Therefore, if you have been proactive about putting your bad credit behind you, they might be able to help you get away from it faster in a shiny new car!

bad credit car loans

We do just want to note that we are simply offering to help you find bad credit car loans with our lender-partners. If you are after bad credit car dealerships, unfortunately, that’s a little out of our knowledge base. However, once you’ve found the bad credit car dealerships that have your dream car, we’ll be here to help you with the finance.

What are the eligibility requirements for our lender-finding service?

Before we can pass your application on to one of our trusted partners, we do have a few boxes that you will have to tick before it can get referred to a lender for low credit car loans. Tick off these boxes before you apply:

  • Over the age of 18
  • An Australian citizen or permanent resident
  • Receiving a regular income for the last 90 days
  • Able to provide a valid mobile number and email address

If you think you can tick all four of these boxes, go ahead and apply! After all, our lender-partners can’t accurately assess your eligibility without taking a look at your current situation and it costs nothing for you to submit an application with Jacaranda Finance.

Do our lender-partners do car loans for Centrelink customers with bad credit?

As the eligibility requirements state, you need to be receiving a regular income into a personal bank account for the last 3 months. This does not necessarily have to come from worker wages. If you are receiving Centrelink payments, some of our lender-partners may still class that as income. As long as your payments are consistent and have been so for the last 3 months, we may be able to find you a lender that offers car loans for Centrelink customers with bad credit.

So, if you do have bad credit and you are receiving Centrelink, don’t count yourself out just yet. Like we said, we’re all about doing our best to pair you with the right lender. This means that we will go above and beyond to try and help you find a lender for your current situation. If you are looking for car loans for Centrelink customers with bad credit, we will do our best to find you a good match.

Find out more about how it works.

Do our lender-partners do car loans for pensioners with bad credit?

Some of our lender-partners can offer car loans for pensioners with bad credit. When applying through Jacaranda Finance, you just need to meet our basic eligibility requirements for income evidence. This will enable our lender-partners to appropriately assess your application and ensure we get back to you promptly.

For applicants with a pension income, the same logic applies as if you were receiving Centrelink payments. As long as you can show you have received regular deposits into your bank account over the last 3 months, we can find you a suitable lender to supply a car loan.

Therefore, it doesn’t matter whether you’re a pensioner, receiving other Centrelink payments, a student or even self-employed. No matter what your situation is, we will save you the hassle and track down a lender that can help you get the financing you need.

Do our lender-partners offer no credit car loans?

We can never guarantee approval on a loan we have referred to one of our lender-partners. All of our applications are subject to a full assessment of the referred lender and their processes. Ultimately, offers may vary depending on the applicant’s individual circumstances.

Typically, with bad credit car loans, you will be approved for the amount that the vehicle you are buying is worth. No credit car loans with guaranteed approval are only on the table once the lender has done a full assessment of your application and confirmed your ability to repay the loan.

By going through Jacaranda Finance, you save yourself the hassle of searching for reputable lenders that can provide no credit car loans. Nevertheless, we do not have any say in the approval of your loan once it is referred to one of our partners for assessment.

How much does it cost to use our lender-funding service?

Absolutely nothing! If you apply through Jacaranda Finance we will not charge you any fees for our referral services. As the loan itself is carried out by one of our lender-partners, we have no say in the fees and charges associated with the loan they offer you.

However, you’re not locked into anything before you’ve signed the loan contract. So, if you want to know how much bad credit car loans cost, you can apply with us – for free – and once we have referred you to a lender you can review their rates.

In a nutshell, we will save you the time and stress of searching for a lender and if you decide they are not what you’re after, no worries at all!

100% Online Bad Credit Car Loan Applications

With Jacaranda Finance, you can apply online at anytime, anywhere. Whether you are making your daily commute to work on the bus, or chilling out on the couch at home – whatever you’re doing, our application is 100% online so you can apply whenever you like. It’s that simple. No more trips to the bank or endless conversations with finance managers – just one quick application and we’ll do our best to refer you a lender in no time.

Ready to see your bad credit in your rearview mirror?

What are you waiting for? It’s time to let your hair down and let it flow out the window of your new car. Whether you’re after new or used car loans, or even caravan loans, we have you covered with our lender-finding services! And as your one-stop-shop for all things loans, we can even find you a suitable lender for a car registration loan, car repair loans and even insurance excess loans for those little mishaps you might have along the way.

Can you hear the open road calling your name? Apply now for your bad credit car loans and we’ll get you there in no time!

bad credit car loans

Daniel Wessels Avatar

Authoritative Source: Daniel Wessels

Young entrepreneur Daniel Wessels is the CEO and Founder of Jacaranda Finance. Although only in his early thirties, Wessels’ determination and adaptability has led him to successfully pioneer a range of other enterprises both here and abroad.

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Last updated: 13/05/2020, 3:57pm

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