Car Loans with Bad Credit in Australia

We offer flexible car loan repayments, available for those looking to get back on their feet and behind the wheel. A bad credit rating shouldn’t hinder you from trying to get a fresh start on life. At Finance One, we're here to offer a helping hand for those looking to take back control with our bad credit car loans.

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Don’t be held back by a bad credit history. Apply for a Finance One vehicle loan.

Finance One understands that life’s road can be bumpy at times, so we take the long road with our personal approach to vehicle lending. We look at your full financial situation, not just your credit score, to help you find the right car loan for bad credit and defaults.

We help improve the lives of everyday Australians with bad credit car loans, including people with no credit history, defaults or bankruptcy. If you have poor credit history, there's no need to stress just yet! We may be able to offer you car finance despite a bad credit rating.

We make the process as stress-free and easy as possible with our car finance solutions. Our finance vehicle options are designed to get you back on the road quickly and efficiently with Finance One car loans.

Normal lending criteria, terms & conditions and fees & charges apply.

Loans from $5,000 to $150,000?**
Loan terms from 3 -7 years
Approvals in as little as 24 hours*

Where can I use a bad credit car loan?

We can get you on the road fast with Finance One Vehicle Loan. Our car loans for bad credit and defaults can be used for:

New cars
Used cars
Utes
SUV’s
Electric Cars
Vans

Can I apply for a Finance One vehicle loan?

Yes. If you meet a few simple criteria, you may be eligible to apply for car finance with a bad credit rating:

Income.

Are you receiving regular income?
Borrow.

Do you want to borrow between $5,000 to $150,000?**
Age.

Are you at least 18 years of age?
Credit History.

Defaults on your credit file or discharged from bankruptcy?

Why Finance One? Because we believe in second chances.

Flexibility

Finance One customers can make extra repayments or increase their repayment amount at any time.^

100% Australian Owned

With offices in Townsville and Brisbane, our team is ready to assist you in finding financial success.

Support

Our dedicated support team will get to know you and provide personalised service.

Car loans for bad credit and defaults in Australia.

Who can we help?

At Finance One, we’re big believers in giving people a second chance with finance. We understand that people’s financial histories aren’t always perfect and that a previous credit incident doesn’t necessarily reflect your ability to make payments now. That’s a big part of the reason car loans with bad credit history are an integral part of our business. Cars are such an essential part of life that it’s very difficult to get by without one, and we believe that you shouldn’t be disqualified from the opportunity to own one.

That’s why we offer borrowers the opportunity to apply to finance a car with poor credit. There are a variety of borrowers who can benefit from a second chance with car loans — if you fit any of the profiles below and you’re in the market for a new car, make sure you get in touch with Finance One.

Self-employed customers

People with unconventional or seasonal sources of income

Customers with limited credit history

Customers with previous credit issues

Casual employees/short-term contractors

Customers looking for an older/second-hand car

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Steps to obtaining a Finance One loan

Step 1

Apply online.

Complete our online form or call us on 1800 346 663 to talk to one of our friendly team.

Step 2

Get approved.

We can have an answer to you in as little as 24 hours!*

Step 3

Settle your loan.

Our friendly team will support you through every step.

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Top tips for applying for a car loan with bad credit

If you’re considering applying for a car loan with bad credit, there are a few key tips to follow.

Budgeting

Establishing a budget and being able to demonstrate a consistent pattern of saving can be crucial for just about any loan. Your credit score isn’t necessarily indicative of your financial habits, and it’s great to be able to demonstrate that to a lender.

Clearing off your credit report

The amount of debt you have dictates how much you can borrow — but did you know that debt isn’t necessarily cleared off your credit report as soon as you’ve finished repaying it? Check your credit report before applying for a loan — you’re entitled to a certain amount of “free” checks each year — to ensure that you don’t have any debt that’s long dealt with preventing you from borrowing more.

Making regular repayments

Once you’ve secured the loan you need to finance a car with poor credit, it’s critical to make regular and timely repayments to the lender, in accordance with the loan agreement. This isn’t just about paying off the loan efficiently; it’s also about building or rebuilding your credit score by demonstrating that you can stick to a schedule and be a trustworthy borrower in the future.

Avoid making multiple applications

Browsing through different loans before coming to a final decision can be a good and normal thing to do when you’re seeking finance. But a common mistake people make is applying for multiple loans, then selecting the one they really want when they’ve been approved. This can actually have a detrimental effect on your credit score overall — so make sure you discuss T&Cs thoroughly and ask any relevant questions before making your decision about which loan to apply for.

Frequently Asked Questions

What could my interest rate be?

Our interest rates vary depending on your overall credit profile. This includes, but is not limited to, the stability of your employment and residence, your credit history, your income and your banking conduct. Every application is assessed individually, so if you’re applying for a bad credit car loan, your rate will reflect your circumstances at the time.

Can I make extra repayments, increase my repayments or pay out my car loan out early?

Yes, you can make extra repayments or increase your repayments. This flexibility may help you pay down your loan faster and reduce the total interest paid on your personal loan. However, some of our loans do have an early payout fee. We recommend you review your loan terms or contact us to confirm if an early payout fee applies to your loan.

Do you require a minimum credit score?

There are no minimum credit scores needed for a Finance One car loan. We look into bank statements rather than credit history to ensure you have a fair chance of rebuilding your life.

What documents do I need to provide for a Finance One car loan application?

The minimum documents we require for bad credit loans applications include:

three months of bank statements (we will provide you with our secure link to bankstatements.com.au to provide your bank statements); and
proof of your income; and
completed application form and privacy statement.

Can I apply for a loan from Finance One if I have a bad credit history?

Yes! Finance One will consider applicants whose credit history includes defaults, previous bankruptcies or Part IX Debt Agreements. We may still be able to provide bad credit car loans by tailoring the loan amount to your current financial situation.

Can I apply for a loan if I receive a pension or Centrelink benefits?

Yes! Finance One will consider applicants who receive any of the following:

Family Tax A & B
Parenting Payment
Carer Payment
Aged Pension
Disability Pension
Department of Veterans’ Affairs (DVA) Service Pension/Partner Service Pension

Finance One - helping borrowers with car finance for bad credit around Australia

We aim to help as many people as we can get a car loan with bad credit so that they can get back on the road as soon as possible. With our services on the Central Coast, Sydney, Canberra, Melbourne, Hobart, Adelaide, Perth, Darwin, Brisbane, Cairns and the Gold Coast, you’ll never be far from applying for a car loan with bad credit.

Get in touch with the team at Finance One today

Although we don’t offer car loans for bad credit with guaranteed approval, we do understand that everyone’s circumstances are different and we work to provide car loans with bad credit, that are quick and easy, in as many instances as possible. So have a look through our FAQ and get in touch with the team today. In addition to bad credit car loans for bad credit, we also offer loans for a variety of other vehicles, including 4x4s, motorbikes, boats and jetskis, caravans and trailers.

*24 hour approvals are subject to satisfactory documentation being provided to assess the application.
**Normal lending criteria, terms & conditions and fees & charges apply.
^Early repayment fees may apply. Please refer to your loan terms and conditions or contact us to confirm if an early payout fee applies to your loan.

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