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2ND CHANCE CAR FINANCE (SECURED)
When you want or need a car but have had trouble getting a car loan, a second chance car loan could be the answer. Second chance car finance is also known as bad credit car loans. This finance type is offered to customers who have had previous bad credit history. In today’s society it is not uncommon for customers to have one or even a number of credit blemishes on their credit report. This can often prevent them from obtaining a loan to purchase a car. Whether you have small default or you are a discharged bankrupt, we will help you get back on track to financial success. At Ideal Loans, we try our best to get appropriate loans for our customers, even though they may have been rejected by other finance companies as a result of bad credit.
We will find you the best and most competitive rates you can get to secure a second chance car loan. At first, you may have to pay a higher interest rate, but if you build up your credit rating, we can help you to refinance your second chance car loan for better terms.12 months of good repayment history on this loan will be the first step to ensuring financial success in the future. Please note that a good stability in job and residence is very important for all car loans. The guidelines for job and residence are shown below. if you are slightly outside these guidelines, please call our office to discuss your options as here at Ideal loans we like to give everyone a fair hearing. With the current financial conditions unfortunately if you have and unpaid defaults or judgements for over the amounts below we will not be able to assist at this time unless we are able to obtain proof they have been listed incorrectly.
Credit History
- Cannot have any default over $3000 unpaid
- Cannot have an unpaid Judgment over $2000
Employment
- You must have employment history for at least 6 months
- Casual employees must be in their current job for at least 6 months
- Employees on contract must have at least 12 months remaining on contract
- Self employed applicants must have tax returns available for verification
We are not limited to any particular finance company, so we can search for the lowest rate and best product available to you and help you to avoid any extra costs involved. We have access to a number of non-conforming lenders who understand that occasionally things go wrong and believe that people should be given a second chance.
Our lenders have loan products available to help most situations:
- Applicants with previous credit or utility defaults
- Applicants with casual employment or irregular pay
- Discharged bankrupts
Documents Required for Assessment
- Most recent 3 months bank statements on all accounts
- 2 recent pay slips if PAYG or 2008 Tax return
- Copy of Driver license – Front and back
- Signed privacy document which is emailed to you on application
A requirement for bad credit car loans is that you must purchase the vehicle from a certified vehicle dealer instead of privately.
Unfortunately we cannot accept pensioners for loans over $5000 (please call for pre-qualification). Also, bankrupts need to be discharged for a minimum of 12 months in order for us to be able to assist.
Complete the fast and simple online application and we will be able to help you obtain a great second chance car loan.
For Loans $500-$5000
Please call the office on 07 5577 0201 for a quotation and pre-qualification. For bad credit loans between these amounts we will need a vehicle asset which is unencumbered for security.
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