Bad Credit Car Loan Lenders Adelaide.
Bad credit car loans Adelaide has are sought by many people who have had some credit diffuculties or credit defaults in the past. Traditional lenders such as banks are not very forgiving on applications for car loans from applicants that have defaults on their credit file. For this reason many people with a poor credit history or bad credit struggle purchasing a used car.
There are car loan lenders in Adelaide that deal with bad credit car loans. These bad credit car loan lenders include finance companies and specialist bad credit car loan lenders who look at a persons ability to make repayments based on their current situation rather than past circumstances that led to the bad credit rating. Some of these lenders are national companies and advertise bad credit car loans Adelaide as part of their national campaign. Often these lenders do not have an office or staff in Adelaide that you can talk face to face with.
There are specialist bad credit car loan lenders and brokers however that are Adelaide based with car finance personnell that can discuss your unique circumstances and try to give you the second chance your looking for. National Finance Choice for example are located in Adelaide and deal with bad credit car loans Adelaide.
It is easy to apply online for bad credit car loans Adelaide has, from the car loan lenders advertising online. After you have completed the car loan lenders online application form, you will be contacted to discuss your application, and will be asked to provide some supporting documentation.
To speed up the process, and get an answer as soon as possible it would be a good idea to gather the required ‘supporting documentation’ before you apply. The following is a list of what you will need to supply to all lenders looking at your bad credit loan application before you are given an ‘unconditional approval:
- Your Driver’s License (Must be valid, and is a legal requirement to apply for finance in Australia)
- Copy of 2 of your most recent payslips
- If you are renting; a copy of your rental agreement
- If you own your home or have a mortgage; a copy of a rates notice (Council rate notice or Water rates notice)
- You will need to complete a 100 point check (medicare card, credit cards, bank statements, passport)
Taking copies is OK, but the original items will need to shown, before the money is drawn down to the supplier / used car dealer you are buying the used car from.
If you are wanting to be pre-approved for a car loan before you go used car shopping, either with used car dealers Adelaide has, or by checking out the bad credit car loan lenders specialising in bad credit car loans Adelaide online, it is a good idea to compare a few lenders before making a decision.
It will be worth looking at the used cars Adelaide located on Main North Road and South Road, because of the many used car dealers that have second hand car yards there. Often these used car dealers will have used car finance options for you as well.
An advantage of finding out if you can be approved for bad credit car loans Adelaide has first, is you will know the amount you can borrow and what your repayments will be, so you can look for used cars for that amount, knowing that you will be able to afford the monthly repayments.
It does not hurt to compare bad credit car loans Adelaide has with finance brokers in Adelaide, as well as the used car dealer where you have found the used car you’re interested in. Be careful however that you do not keep applying for car loans and sign a privacy and consent form repeatedly. This will for many people damage their credit rating, and make it impossible to be approved because they have too many enquiries on their credit file. If you have been declined for used car loans before it is important to get a copy of your credit file and a credit file report, before you apply for used car loans in Adelaide again.
Make a Bad Credit Car Loan Enquiry to National Finance Choice
Note: If you are any sort of pension, find car loan lenders by looking at car loans for pensioners.