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     Bad Credit Car Finance                 
 

This is a FULL DOCUMENT facility requiring the disclosure and proof of all income and debt associated with the applicant.
  • Defaults paid or unpaid considered.
  • Judgments – Unpaid Financial Judgements/Writs are not acceptable

  • Ex-bankrupts and part XI agreements – Min 12 months from discharge  - No multiple Bankruptcies

    Severe Credit Impairment require a deposit in most cases

    NOTE: in all cases suitable explanations must be provided to credit for assessment and consideration.

    Minimum Requirements:
     

    1. Applicants aged under 23 years – in most cases an asset backed guarantor will be required.

    2. Centrelink income – must meet serviceability criteria. Government - Benefits cannot be any more than 30% of total net income.

     

 


Purpose

 


New Vehicles and Used Vehicles only from a licensed dealer (no private Sales)
 
  Applicant Types   PAYG - Minimum 6 months Full time employment or 18 months of casual employment (NO Applicants on Probation Period)

Self Employed - Who have been self-employed for a minimum of 12 months
and have Tax Returns/Accountant prepared financials to show serviceability. Vehicles must be for personal use.

A valid Driver Licence showing current residential address is needed
 
  Term   Up to 5 years
 
  Approval Criteria  

Consumer Use Only
 

 

Finance Amount

  From $8,000 to $100,000
 
 

Exclusions

 

Our finance solutions are available to people in a wide variety of circumstances. However, we will not offer finance in the following situations:

  • In the absence of customer benefit and remote locations
  • Undischarged bankrupt for less than 12 months; repeat credit offenders e.g. bankrupt twice, defaults after bankruptcy and customers with unpaid repossessions from other financiers
  • Non-residents

 

  Approval Time   Within 48 hours if all information is submitted with application
 
  Rate Range   Interest rates for the 2nd chance finance product are generally higher than other types of finance, which relates to the level of risk. Interest rate and allowable LVR are both determined by a combination of applicant’s credit, occupancy and employment history
 
   Budget Direct Money Mag Best Car Insurance 2007  
 
 
   
     
 
Please note: Ausco Trading Pty Ltd takes no responsibility for the accuracy of this information. Car Finance Australia make all reasonable efforts to maintain accurate information. However all credit information should be used as a guide only. We urge users to check the terms and conditions on the specific credit applications when applying. You should check all costs related to any credit application with your financial adviser before making purchase decisions.