Bad Credit Car Loans From $10K To $100K Available Now. Apply

Bad credit car loans are potentially available to consumers looking for car finance with poor credit history. Apply for up to $100,000 today.

What are bad credit car loans?

As the name suggests, these are car loans designed for borrowers with poor credit. These loans can help cover various car-related expenses, including:

  • Purchasing a vehicle
  • Registration fees
  • Repair costs
  • Accessories such as 4×4 upgrades
  • Other vehicle-related costs

You could also explore finance options for items like a jet ski or motorcycle.

If you’ve faced financial challenges such as defaults, bankruptcy, or a Part IX Debt Agreement, traditional lenders may consider you high risk. In these cases, Monzi can help match you with lenders open to bad credit car loans.

Monzi – Australia-wide lender-finder

Monzi operates entirely online, offering a simple and convenient way to apply for a loan from anywhere in Australia. With no paperwork and no phone calls required, you can apply at any time. Learn more about bad credit personal loans today.

How can Monzi help with bad credit car loans?

Monzi is a lender-finder service that connects you with lenders offering loans tailored to a variety of financial circumstances, including bad credit. You could access loans of up to $100,000 through our trusted network of lenders.

Our service saves you the hassle of applying with multiple lenders. Submit one application through Monzi, and we’ll do our best to pair you with a lender who can meet your needs.

What car loans can I apply for?

Through Monzi, you can access loans ranging from $10,000 to $100,000. The specifics of your loan will depend on the lender’s assessment and the type of loan you apply for.

Can you guarantee me a bad credit car loan?

No legitimate lender can guarantee approval for a loan. Responsible lending laws in Australia require lenders to assess your financial situation to ensure any loan is suitable and affordable for you. Beware of lenders offering guaranteed approval, as they may not comply with these laws.

Before applying for bad credit car loans – can I improve my credit score?

Improving your credit score can open more financial opportunities and potentially result in better loan terms. Consider these tips to boost your score:

  • Pay your bills on time
  • Limit applications for new credit
  • Consolidate debts
  • Keep credit card balances low
  • Pay off outstanding loans

While this process takes time, it can lead to long-term benefits.

Does a bad credit car loan improve your credit?

Managing a loan responsibly can improve your credit score. By making on-time repayments, you demonstrate financial reliability, which may positively impact your credit history. However, missing payments can harm your score, so only take out a loan that fits your budget.

What about car loans for pensioners with bad credit?

Pensioners can apply for a car loan through Monzi. However, lenders will need to see evidence of a stable and consistent income to assess your suitability. Whether you’re looking for a new car or a caravan, Monzi can help connect you with a lender.

How much deposit do I need to buy a car?

You may not always need a deposit to buy a car. If a deposit is required, ensure the agreement is documented to safeguard your financial interests.

How can I get a car loan with bad credit in Australia?

Applying with Monzi is a quick and straightforward way to connect with lenders offering bad credit car loans. You could access amounts up to $100,000, depending on the lender’s evaluation of your financial situation.

Car loans for bad credit with quick outcomes

If you need a car loan quickly, Monzi can connect you with lenders who may offer fast outcomes. However, instant approval is not possible as lenders must assess applications responsibly.

Bad credit car loan interest rates

Interest rates for bad credit car loans may vary based on the lender, the amount borrowed, and your financial history. Generally, improving your credit score and exploring secured loan options can help you access more competitive rates. Always review your loan terms carefully before agreeing to any offer.

Additional considerations for car buyers

Owning a car involves ongoing costs such as:

  • Insurance
  • Registration
  • Fuel
  • Repairs and maintenance
  • Tolls

Use tools like ASIC’s MoneySmart Cars app to estimate the total cost of car ownership. Before buying a used car, check the Personal Property Securities Register (PPSR) to ensure there’s no existing debt on the vehicle.

Ready to apply?

Apply now through Monzi and connect with a lender offering bad credit car loans. It’s quick, easy, and 100% online.

Factor In Costs

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

16 days (minimum)

12 months (maximum)

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Representative example based on a loan of $1000 over 6 months a borrower can expect to pay a total of $1440.

Disclaimer: Under the current legislation, all Small Amount Credit Contract loan providers don’t charge an annual interest rate. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The minimum loan term is 16 days and maximum loan term is 12 months. Representative example based on a loan of $1000 over 6 months a borrower can expect to pay a total of $1440.

Loan amount

$2,100 - $4,600

Terms

12 months (minimum)

24 months (maximum)

Costs

47.8% Annual Percentage Rate (APR)

65.85% Comparison Rate p.a.

Example

Representative example based on a loan of $2500 over 24 months a borrower can expect to pay a total of $4,556.88.

The maximum interest rate for a Medium Amount Credit Contract is 47.8%. Comparison Rate 65.85% p.a. The maximum loan term is 24 months. Representative example based on a loan of $2500 over 24 months a borrower can expect to pay a total of $4,556.88. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Credit criteria and terms and conditions apply.

Loan amount

$5,000 - $15,000

Terms

12 months (minimum)

24 months (maximum)

Costs

47.8% Annual Percentage Rate (APR)

47.8% Comparison Rate p.a.

Example

Representative example based on a loan of $10,000 over 36 months a borrower can expect to pay a total of $18,995.04.

This is an estimate only and the comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit.The maximum interest rate for a Personal Loan is 47.8%. Comparison Rate 47.8% p.a. The maximum loan term is 24 months. Representative example based on a loan of $10,000 over 36 months a borrower can expect to pay a total of $18,995.04. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Credit criteria and terms and conditions apply.