Second chance car finance for those with a low credit score.
Second chance car finance to help you get into your next car sooner, even if you have had defaults or judgments in the past that may have affected your credit score.
We can match you with a lender who will consider your improving financial habits and assess you based on the now, rather than just your credit history.
At Gusto Finance, we are the experts in bad credit car finance! With over 50 years combined experience dealing with credit impaired consumers we know what marks can be deal breakers and where there is enough wiggle room with the right lender.
This can be the difference between a rejection and securing your next car loan while you have a bad credit score.
Whether you have missed some loan repayments in the past, or were defaulted for a missed utilities payment, there are lenders out there who will look at your current household budget and your recent money management history and may still consider you for a car loan.
If your current loan repayments are all up to date then you may be in a stronger position than you think. Especially if you have paid off any past defaults that have affected your credit score.
There is no need to wait if you are looking for some new wheels, get in touch with Gusto Finance today and we can walk you through the process to secure the car of your dreams today!
A low credit score is a benchmark that will vary from lender to lender, and policies are constantly changing. This is why it is important to speak to an expert so you know where you stand.
An adverse credit event will affect your credit score, but you may still be eligible for a fast car loan approval if placed with the right lender.
It will be difficult for you to get a car loan if you have unpaid financial defaults. You must bring these accounts up to date in order to be eligible for a car loan.
Utility defaults may be overlooked by some lenders but this depends on other factors also.
If you have a bad credit history then the greater number of positive signals you can evidence to a lender the better. Our brokers will be able to assess what is important to help you get that approval!
But what if your past credit problems were severe enough for bankruptcy?
Some marks on your credit file are more serious than others, and you may think that a major insolvency event will have you blacklisted for life! Well, that is not the case!
If you are a discharged bankrupt, or have been on a part IX debt agreement we may still be able to help you obtain a new loan. This will depend on your circumstances and our experts can help match you with a lender who may be able to help.
If it is too soon, the pathway to be eligible for credit again may be shorter than you think. Our brokers can help you understand exactly where you stand today and how to get where you want to be.
How are we different?
Fast finance for the everyday Australian.
How we help customers with a bad credit history get a car loan:
Fast finance for the everyday Australian.
Speak to our brokers today about the best vehicle finance solutions for your circumstances.
Bad Credit Auto Loans FAQs
Here’s a little more about how we operate. Got a more specific question? Feel free to get in touch.
You can start by completing our inquiry form here. You will also need to supply the following documentation:
Once you have provided all of the required information we will process and submit your application within hours! We aim for same-day approvals and a speedy settlement.
Loan approval timeframes are dependent on your circumstances and cannot be guaranteed but we will always be following up with GUSTO!
Yes, bad credit car loans are our specialty! We have a number of lenders on our panel who will lend based on current behaviours rather than focusing only on past mistakes.
If you are not yet ready then we can help wth some general guidance for how to improve your credit.
The short answer is yes, but it will depend on the number, size, and type of defaults. Our expert brokers can provide you with a consultation to find what options are available to you.
Book your obligation free consultation here.
As part of your initial consultation we will do a “soft credit check”. This does not affect your credit score and will not show as an inquiry on your credit file.
Once we submit your application to a lender they will always complete a full credit check as part of your loan assessment. This will show up as an inquiry.
Yes, some of our lenders will consider Centrelink income when assessing your capacity to make repayments on your car loan.
However, not all Centrelink income categories are eligible and our brokers can guide you through this.
Book your obligation free consultation here.
You can borrow the full value of the car if this is your preference as long as you have the capacity to make the repayments and satisfy other lending criteria.
However, if you have a deposit this can help either reduce the size of the loan and the costs you will pay over time. Or, you may be able to get a better quality car. It can also help your chances of getting car finance if you have a low credit score.
You may be able to drive away in as little as 48 hours if your application is transparent and complete.
We always pursue a speedy outcome with GUSTO!
Our brokers will provide expert guidance to find the most suitable car loan for your circumstances.
A credit guide and consent form will be provided to you prior to any loan application submission on your behalf. We will then fight with GUSTO to find a great deal!
ACN: 677 827 637
Gusto Finance PTY LTD | ACN: 677 827 637 | Credit Representative # 559858 is authorised to provide credit assistance by National Finance Connections | Australian Credit License # 543046.
Disclaimer:
This website is designed to provide you with factual information only. This information contained within does not take into account your needs objectives or financial situation. To understand whether a credit product is right for you speak to one of our licensed Finance Brokers. Terms, conditions, fee’s, charges and minimum loan amounts may apply. Credit is subject to approval by the credit provider under their responsible lending policy.
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