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Can I get a car loan with bad credit and no deposit?

Yes. Lenders will lend up to 150% of the vehicles value for the right candidate.

WARNING: If you read this website, your chances of getting car finance with bad credit will dramatically improve.

Conversely, if you have adverse credit and you are buying a car that the financier isn't as favourable towards or it could be because they are uncomfortable with lending you $15,000 but will lend you $12,000, you might be required to put in a deposit.  If you have do not have cash in the bank this can cause further issues as you are now going to have to borrow from friends or family or a pay day lender at much higher interest rates. My advice to you if you are asked to put in a deposit because of the amount you wish to borrow would be to find a cheaper car. I never recommend borrowing on top of borrowing.

Summary

You can be given up to 150% of the cars value which will allow you to pay any fees and charges or insurances. This means you can buy a car with no deposit and having impaired credit. This wont be available to everyone, it will depend entirely on your credit history.

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    IMPORTANT INFORMATION

    Information on this website is current as at 28 February 2018 and is subject to change. Testimonials appearing on this website are of individual experiences of customers of BadCreditCarLoan.com.au and are not necessarily representative of all those who will use our products and/or services. BadCreditCarLoan.com.au makes every effort to ensure all information provided is correct, however, it does not warrant the accuracy of that information. The information is general in nature and does not constitute financial or tax advice.

    All applications for credit are subject to credit approval criteria. Terms & conditions, fees and charges apply.

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