In special cases we can arrange Interest Rates
as low as 7.85% for a loan up to 5 years term (Max 1 default).
- We can help arrange a credit repair service to
remove unwanted defaults from your credit file to get a better interest
rate for your car loan. Please check car loan page to compare car
loan interest rates for clean credit car loans.
- Paid defaults, unpaid defaults with payment arrangement,
discharged from bankruptcy or part 9 agreement paid judgments, everything
considered by our lenders on a case by case basis.
- For new vehicles not older than 4 years we can arrange better
rate for the loan through the car loans solutions.
The interest rates are as low as 7.85% for 5 years term if purchase
price is more than $18,000. You will also have the choice to minimize
your repayments by having a final payment equal to up to 30% of the
original loan amount. This is called a balloon or residual payment.
Rates are approximately 9.35% PA if loan amount is $10,000-$18,000.
- Some of our lenders will loan up to 120% of the car value to
assist you cover other expenses that are related to the transaction (e.g.
Interest, Registration, Stamp Duty, other approved uses), interest rates
start from 12% P.A.
- If you are buying a car from a private seller and you have
major credit impairment issues, this problem could result in you having to
pay up to 48% p.a. for the loan.
Approval Process for Bad Credit Car Loans:
- 1) Fill out the "Apply Online Form" on this website
and we will call you within 2 hours in most cases, or you may call us on
the 1800 88 LOAN (5626) number from 7am to 10pm (7 days per week).
No Credit Check is undertaken by the lender or us at this stage.
- 2) You will receive an automatic reply email confirming that we
received your application
- 3) Reply to the email that you received in Step 2 and attach
all the documents listed on this page.
- 4) We will undertake a pre-assessment (Credit History, Capacity
Calculations, review collateral offered and supporting documents supplied
- 5) Once we are fairly confident of an approval, we will issue
you with a credit quote detailing the key terms of the loan you would like
to apply for in writing to ensure there is no misunderstanding between
yourself and us.
- 6) Client signs credit quote
- 7) We prepare application and obtain your signature
- 8) Application is lodged to the lender
- 9) Lender issues a decline or a conditional approval letter
which needs to be signed and returned to lender (we have 90% + approval
rate, since we undertake the assessment first and we are very familiar
with lenders credit requirements.
- 10) Lender undertakes a credit check at this point and also
provides formal approval and prepares loan contracts once any outstanding
conditions have been satisfied
- 11) Client signs loan contract and our Invoice so we can
receive a Brokerage fee from the lender
- 12) Loan proceeds are disbursed to car owner (Private or
Being professionals in their industry, www.personalloanscarloans.com.au can assist you with debt consolidation. We
will utilise our knowledge to get you back on track.