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Bad
Credit Car Finance
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This is a
FULL DOCUMENT facility requiring the
disclosure and proof of all income and debt
associated with the applicant.
NOTE: in all cases
suitable explanations must be provided
to credit for assessment and
consideration.Minimum Requirements:
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Applicants aged under 23
years – in most cases an asset backed
guarantor will be required.
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Centrelink income – must
meet serviceability criteria. Government
- Benefits cannot be any more than 30%
of total net income.
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Purpose
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New Vehicles and Used Vehicles only from a licensed dealer (no private Sales)
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Applicant Types |
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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
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Term |
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Up to 5 years
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Approval Criteria |
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Consumer Use Only
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Finance Amount |
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From $8,000 to $100,000
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Exclusions |
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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
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Approval Time |
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Within 48 hours if all information
is submitted with application
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Rate Range |
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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
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