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Bad Credit Car Loans

If you have bad credit, the chances are you can still get car finance. If you are in this situation it’s important to have reasonable expectations.

Don’t Write Yourself Off

Reputable specialist lenders in this field will provide car finance if you have bad credit – provided you can demonstrate you meet key approval criteria. We can help you learn which lenders are happy to provide car finance in this situation and assist you in structuring an application that meets those critical approval criteria.

Get Professional Advice

Boost your chances of success by getting a professional on your side. At CarLoans.co.nz we know the market, and we know the reputable lenders. We understand that it’s challenging and draining being in this position, and we work hard to make your application easy.

We’ll help you avoid the time others waste applying to the wrong lenders, or by submitting critically flawed applications. We stay updated on a daily basis with regulatory changes, policy changes and overall marketplace dynamics. We have close relationships with the reputable lenders in this area, and our specialist bad credit car finance consultants take the time to learn more about you – as an individual and an applicant.

We know everyone has ups and downs in life, and everyone deserves a second chance. If you can demonstrate that your situation has improved, we can help you get the car finance you need to get yourself back on track – literally.

But I’ve Been Declined Elsewhere

Even if you have been rejected by other potential financiers, you should still contact us today. If you’ve approached the wrong lenders, or even the right lenders in the wrong way, your application may have been rejected. You could easily still be a candidate for reputable car finance. Call or e-mail us today for a no-obligation assessment of your loan approval potential – no matter how bad you think your credit history is. You might be pleasantly surprised at how easily we can help you get a bad credit car loan approved.

Several lenders specialise in bad credit car finance – and their business is lending money, not rejecting applications. We can present you the finance options from a range of reputable lenders, and you can choose the one which suits you best.

We can help you present your application to the specialist lender of your choice, and we’ll work hard to ensure it showcases your suitability for finance approval by making sure it addresses the lender’s key approval criteria. Remember, having your loan application properly prepared and presented is critically important.

Bad Credit Car Loan Interest Rates

The interest rate you pay on any finance arrangement is in part linked to the lender’s assessment of risk. The good news is that, depending on how bad your credit rating actually is, you may still be able eligible for normal car loan interest rates.

It’s conventional for specialist bad credit lenders to apply interest rates on a sliding scale, relative to the risk they perceive each client presenting. That means you may expect to incur interest rates that are higher than the best currently on offer. These determinations are made individually, after careful consideration of all the relevant factors.

Even if you are offered a relatively high rate, you can still turn this into a positive. You might decide to reduce the amount you will borrow, boost the payments and pay that loan off early. This will cut your overall interest bill, and at the same time the rapid repayment of the loan will help repair your damaged credit rating.

The best way to your own personal situation is to speak with one of our friendly specialist bad credit finance brokers. At CarLoans.co.nz we’re happy to provide you with an obligation-free bad credit car loan quote at your convenience. You might be surprised just how easy bad credit finance approval can be.