BAD CREDIT CAR LOANS

The mortgage brokers at Intellichoice are specialists at sourcing bad credit car loans from our panel of approved lenders for people who have difficulty getting a traditional car loan or personal loan from the banks.

A bad credit car loan is ideal for the following people:

• Discharged bankrupts

• Have had credit card defaults, forgot to pay their telephone or electricity bill and have a black mark against their credit report

• Have unpaid defaults but have made arrangements to pay them off

• Been previously declined by the banks without a reason

• Just recently migrated to Australia

• No doc car loans and low doc car loans available for self employed people who do not have the necessary financial documents or tax returns

A bad credit rating may occur on your credit file if you were not able to properly manage your financial responsibilities in an organised manner, for example, you forgot to pay a telephone or electricity bill or paid it late. You'll be surprised how your credit rating affects your life when you need to get a personal loan, car loan or a home loan.

So even if you have bad credit or are self employed and need a car loan, the experienced mortgage advisors at Intellichoice may still be able to assist with alternative car finance solutions.

Please note some of the things that may affect approval for your bad credit car loan or low doc car loan:

• If you have a deposit for the car loan

• Whether you have a guarantor for the bad credit car loan

• If you are applying for a car older than 7 years

• If you can provide savings history after the bad credit of amounts similar or more than the anticipated car loan quote

• If you have any other outstanding unpaid defaults

• If you had bad credit history over a long period of time or if it was just a one-time occurrence when you were going through a bad patch. Mortgage lenders may not approve the bad credit car loan if you had continual bad credit history, as there is a higher risk that you may not repay the loan

Please note that a bad credit car loan will most often have a higher interest rate than traditional car loans. The terms and conditions for a bad credit car loan may also be a little more restrictive, so before you sign anything, make sure you have read and understand the full terms and conditions and you can afford the monthly car loan repayments. Your mortgage broker will work with you to find a bad credit card loan that suits your needs, explain everything in plain English and set a budget for you to ensure you can afford the car loan repayments.

Our mortgage advisors specialise in bad credit car finance for people with poor credit history. If you require some finance advice on your particular situation and how Intellichoice can help with your bad credit car loan, please call 1300 55 10 45. Our experienced mortgage brokers are keen to help you get behind the wheel faster and without the hassle and stress. Intellichoice can also assist with bad credit home loans for the credit impaired.

BAD CREDIT HOME LOANS

If you can't get a home loan, personal loan or car loan because you don't fit traditional lending criteria, you're not alone. The mortgage brokers at Intellichoice can assist with bad credit home loans and bad credit car loans for people with bad credit history or self employed people.

In Australia, approximately 1 in 5 people are unable to obtain credit from a traditional mortgage lender. Often, this is through no fault of their own. The level of impairment can range from arrears to bankruptcy, difficulty in meeting monthly commitments due to lack of work, suffering from an unexpected business loss or having a difference of opinion with a former credit provider.

We understand that every client is different and come from a variety of backgrounds that might not fit the mould of traditional mortgage lenders and have available a range of bad credit home loans and bad credit car loans to cater to your needs.

We can assist with a bad credit home loan, non conforming home loan or low doc home loan for:

• People with defaults to get a home loan or mortgage loan

• Discharged bankrupts and judgements

• People in casual employment to get a home loan or mortgage loan

• People with part time employment with multiple jobs to get a home loan

• People who are self employed with no financials with a low doc home loan

• People who have been declined multiple times without a reason

Advantages of bad credit home loans

• Gives you the opportunity to improve your credit rating

• Gives you the opportunity to service a new loan which helps you get back on track to achieveing your goals or reduce debt

• Non judgemental lending rules with more flexibility

Disadvantages of a bad credit home loan

• Interest rates will be higher than a standard home loan

• You may require a larger than normal deposit

If you have bad credit or poor credit history and you are interested in purchasing or refinancing a home, speak to one of the mortgage brokers at Intellichoice on 1300 55 10 45 about bad credit home loans. We aim to help people who have difficulty qualifying for traditional mortgage loans achieve their financial goals and secure the funds they need to buy a house, an investment property, car or even grow their business.