Even if you’re extremely successful in your chosen field, getting car loans in Australia can be difficult as a self-employed person. But here at Finance One, we’re always happy to work with people to help them apply for the loan solutions they want for their circumstances.

If you have a source of income that’s outside of the usual 9 to 5 routine, it can be tricky securing the finance you need for a new car loan. But here at Finance One, our loans are designed to help you get the car you need, when you need it.

Suppose you’ve not previously had much experience with loans. In that case, car loans for bad credit can be an effective way to secure a loan and help you establish a credit history for yourself, which will be useful when applying for other loans in the future.

Previous credit issues can be a serious hindrance when applying for finance. But you may still be able to get a car loan with bad credit. Here at Finance One, we’re committed to helping people who are in unusual circumstances. Car loans for bad credit can also be a pathway back to good credit if you’re making repayments consistently, on time and paying it off within the loan’s lifespan and in accordance with the loan agreement.

Casual employees and contractors who apply for car loans with bad credit can sometimes be dismissed by the bigger lenders and banks due to a perceived lack of “steadiness” in their income. But we understand that this isn’t necessarily the case, and we can work with you to help you find a lending solution suited to you.

Sometimes it can be tricky getting car finance in Australia if you’re looking at an older or second-hand model. Lenders are often concerned about the longevity of the car and can be more hesitant to offer a loan than they might be for a new car. However, at Finance One, we can usually assist in these situations.

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.

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.

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.

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.

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.

Yes, you can make extra repayments or increase your repayments. 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.

The minimum documents we require for an application 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.

Yes! Finance One will consider applicants whose credit history includes defaults, previous bankruptcies or Part IX Debt Agreements.

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