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Bad Credit Car Loans
March 4, 2020●
10 minute read●
Are you looking for a car loan but bad credit is holding you back? Say no more. We know it can be tough to find a lender when your credit score is not looking rosy. At Jacaranda, we can give you a fair go. While we do look at your credit score, we mostly care about your current relationship with money. Even with a bad credit score, you may be able to get a car loan with us. Read on to find out more about our car loan bad credit and how to get one.
What is a car loan bad credit?
A car loan is a type of personal loan that can help you finance a car even if you don’t have the funds to buy it on the spot. Some lenders may be sceptical if you have a bad credit rating from past mistakes but there are lenders like Jacaranda that are happy to give you a chance.
You’ve been wanting to buy a car for a while but your bad credit rating is a major roadblock in your aspirations? At Jacaranda, we can offer you a car loan, even if your credit rating is far from ideal. We rather care about your current relationship with money than digging deep into previous mistakes. A mistake you made up to 7 years ago could reflect negatively on your credit score. This however might not be a true reflection of how you manage your money today. That’s why it’s our promise to give every Aussie a fair go when assessing their application. You are more than welcome to apply with us if you meet our other requirements and we may be able to offer you a suitable loan.
Why Jacaranda Finance?
Let us introduce ourselves. We are Jacaranda Finance, your personal lender of choice when it comes to car loans for people with a bad credit score. When you type “car loan bad credit” into Google, many potential lenders promise to offer you a loan but who should you go with? Every lender has different requirements and it’s worth comparing your options. At Jacaranda, we believe in responsible lending techniques: We won’t offer you a loan if we think you won’t be able to repay it. However, we do give everyone a fair chance. If you have a bad credit rating or receive Centrelink payments, we may still be able to offer you a loan. Here are just a few of the many benefits of applying with Jacaranda Finance.
||Our application process is 100% online. You don’t even have to leave the comfort of your home while applying for a loan to buy your dream car.
||We are super fast. Most people receive their outcome within 60 minutes if they apply within our business hours.
||We are responsible lenders and check your application thoroughly. While we want to provide you with a suitable loan, we won’t lend you money if you think you won’t be able to comfortably afford the repayments.
||We care about our customers. Every financial situation is different and unique. That’s why we assess every case individually to ensure a fair assessment.
Who can get a car loan?
It is our mission to make personal finance as accessible as possible to anyone. However, you need to meet a few requirements to be eligible for a car loan with us. We offer car loans for pensioners, car loans for people on Centrelink, car loans for students, basically car loans for anyone who needs a little (financial) help from a friend.
You are eligible for a car loan with us if you:
- Are at least 18 years old;
- Have an Australian passport or permanent residency;
- Are allowed to drive and have a driver’s license;
- Receive a regular work income into a personal bank account for at least 3 months.
Does that sound like you? Awesome! Apply for your personal car loan bad credit and become part of the Jacaranda family.
Why do we offer car loans to people with bad credit?
There are many reasons why you could have a bad credit history. Maybe an old relationship left you in financial debt. Maybe you forgot to pay a bill or maybe you weren’t as sensible with your money in the past as you are now. However, these reasons may not necessarily reflect how you handle money today. We simply believe that everyone deserves a fair chance to get a loan. A credit check is not enough to base our opinion on, that’s why we assess everyone’s application on a case by case basis.
How to apply for a car loan?
Our online application process is super easy. In fact, most people submit their application in a couple of minutes. Once you hit the ‘Submit’ button you may get the outcome within only 60 minutes (if you apply during the normal business hours and we don’t require any additional documents). And the best thing: Our application is 100% online. You can skip standing in a queue for hours and won’t have to print out mountains of paperwork. If you want to speed up your application, simply make sure that you have the required information handy.
Step one: Fill in the online application.
It shouldn’t take you much time. You can use our car loan calculator to work out payment terms and rates beforehand. Simply fill in your personal information and you are good to go.
Step two: We assess your application.
Now you can lean back and wait. Our team is using the newest and best safe banking technology to assess your application. We take a look at your current financial situation as well as your spending habits. And we won’t let you wait for long: If you apply during our business hours, you may receive your outcome within 60 minutes.
Step three: Receive your funds.
If we can offer you a car loan, welcome to the family! We will be in touch with the digital loan contract. Once that is signed, we will send your funds to your nominated bank account with our next round of banking.
Even if we can’t offer you a loan, there may still be another lender who can. If so, we can refer your application and a lender may be in touch shortly after.
What car loans do you offer?
While buying the car is the biggest expense, we also offer personal loans to cover other costs associated with buying a car. A tight budget shouldn’t force you to compromise on your mobility. If you’ve been looking for a “car loan bad credit” on Google for a while, you’ve come to the right place. If we can’t offer you a car loan, we may still be able to give you a personal loan that takes the financial pressure off other car-related expenses. takes off financial pressure from other car-related expenses.
A car loan
You are looking for finance to buy your dream car? Jacaranda may be able to help. Our car loans range from $5,000 to $35,000 and repayment periods vary from 1 to 5 years, depending on your personal circumstances and preferences. Financing a car can be even harder when you receive Government benefits. But your age or personal circumstances shouldn’t limit your access to mobility. That’s why we also offer car loans for pensioners, car loans for students, and car loans for people on Centrelink. Find out if you are eligible for a car loan today, it won’t take long.
A car registration loan
Rego costs vary from state to state, depending on car type and registration period. One thing that is consistent across all states, however, is that rego costs are expensive. If you are planning with a small budget, car registration can be a big cost. A car registration loan may give you the financial boost you need.
A personal loan for car repairs
Owning a car can come with unexpected costs. Someone reversed into you? Your car is leaking? Or you simply need to replace the windshield. Whatever it may be, you shouldn’t have to compromise on your own safety. Therefore, a personal loan may be a good option to cover your expenses without causing you financial distress.
How fast can I get a loan?
We get it. You found your dream car and obviously, you can’t wait to get on the road again. That’s why we spare you the lengthy application process. It takes a few minutes to fill in your data and once you hit submit, you may receive your outcome within 60 minutes (if you apply during our business hours). If everything goes smoothly you may receive your funds the same day. That’s pretty fast, hey? If you don’t believe us, find out for yourself. There may only be a few hours between you and your new car.
Will you call my work?
We may perform an employment check but that’s not a reason to worry. We will only contact your employer if we need to confirm or request extra information. We certainly don’t do it for every application however when we do our team is well experienced and discreet. We will never speak about any details of your financial situation or the loan you are applying for. Your privacy is always our biggest concern. But if you have any questions regarding the assessment process, get in touch and discuss them with our team.
What is going to happen with my banking details?
You may be wondering why we ask for your online banking details. That is part of the reason why our assessment process is so fast: We use the latest in safe banking technology to access a read-only-version of your bank statements. That’s right: No one will be able to access your account or passwords, we will only look at your financial circumstances. This allows us to see existing financial commitments, income, and spending habits in one place without requiring you to print out and hand in a pile of paperwork.
Can I apply if I receive Centrelink?
Yes, you can. At Jacaranda, we may be able to offer you a car loan if you receive Centrelink payments if you fulfil the necessary requirements for a personal loan. Other lenders may turn down your application but we will treat regular Centrelink payments like a regular income. If you are on Centrelink or other Government benefits, we highly encourage you to apply for a personal loan with us. You may know your outcome in only 60 minutes (if you apply within our business hours).
Before you apply
We highly encourage you to think twice before you apply for a car loan. Taking on debt is a daunting process and you should consider if getting a loan fits with your budget. If you’ve been searching for “car loan bad credit“ because you find yourself in a difficult financial situation, you can get free advice from a financial counsellor via AFSA, for example. Additionally, you can talk to us if you have any further questions or would like to discuss your best options.
Our business hours for calls are:
Monday to Thursday: 8 am – 6 pm
Friday: 8 am – 4 pm
Saturday: 8 am-12 pm
Ready to apply?
If all your questions have been answered and you can’t wait to cruise down the highway again, let’s get started!
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