Happy Customer Loan Reviews
Get a fair go with Money3!
Bad credit car loans when you need them most. With no hidden surprises, rest easy knowing you're getting a fair deal.
Check you meet our basic criteria
Over 18 Years Old
You must be aged over 18 years old to qualify
Income over $480
You must take home at least $480 from earnings or Centrelink benefit payments or both.
Australian Resident
You must be an Australian resident or citizen in order to qualify for a loan with us.
Here's how it works
Car finance made easy, so you can focus on the fun stuff. With a fast and headache-free application process, getting a bad credit car loan is possible with Money3.
- 01.Submit your pre-approval online
With quick, stress-free upload options for bank account statements, you can apply online wherever you are.
- 02.We’ll take a look and get in touch
Once we review your request, we’ll reach out via phone or email with your next steps to clarify how much you could borrow.
- 03.Pick your new car
Either new or used, from a dealership or via a private sale — tell us what car you'd like to buy, and we can take it from there.
- 04.Drive away
We’ll step in and organise your payment. If all goes smoothly, you could be driving away in your next car in 48 hours.
1. Subject to verification, suitability and affordability
Car Loans with Bad Credit Australia-Wide
Money3 may be able to help1 you out with your car finance when others can't, across Australia.
We'll give you a fair go - even with bad credit in the past. Car finance could be approved up to $75,000 - depending on how much you can afford. That could be for any vehicle from a Car, Motorbike, Van to a Boat or a Caravan.
You can easily get started. Complete the short form above or select the kind of vehicle loan you are looking. Then give us a few details, and we get back to you as soon as possible.
1. Subject to verification, suitability and affordability
Can I get a car loan if I have bad credit?
Getting a car loan with bad credit may be easier than you think1, even if you've experienced credit problems in the past.
As long as you meet our basic eligibility criteria, and we're satisfied the loan is suitable and affordable for you, we'll assess your application on its individual circumstances.
We understand that credit history is only one part of the picture. That's why we consider applications from customers with a range of credit backgrounds, including people who:
- Have been refused credit elsewhere
- Have paid or unpaid defaults
- Have a low credit score
- Have been discharged from bankruptcy
- Have been discharged from a Part IX debt agreement
- Receive Centrelink income, including disability support or parenting payments
- Are retired and receiving a pension
Every application is assessed on its own merits, taking into account your current financial situation, income, expenses and ability to afford the repayments1.
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Car Loan Calculator
Get a rough guide of how much you could afford to borrow
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Get the money you need when you need it most.
100% online
With easy, automatic upload options for your documents you can apply online in just 5-10 minutes.
Get up to $75,000
Car loans possible with bad credit and we'll tailor your repayment plan to work best for you.
Drive away in 48 hrs
When it's time to buy, we can step in and organise your payment to speed things up.
Getting Pre-Approved with Money3
Drive away with your new car as soon as possible with our quick and easy car loan approval process. Money3 provides car loan pre-approval - fast!
With Money3, you can apply for car finance in Australia. If you’re a citizen or permanent resident and your weekly income (earnings + Centrelink) totals $480 or more1. We could give you the second chance car loan you deserve1!
To qualify, you must:
- Be Over 18 Years Old
- Have Take Home Income or Benefits over $480 a Week1
- Be an Australian Resident
- Get Your Income Paid into Your Bank Account
- Be Employed or Receiving Centrelink payments1
Get started by completing the short form at the top of the page. Simply tell us a little about yourself and we'll take it from there.
We can call you back, or you can finish your application online. Just provide us with the information we need to assess your loan pre-approval.
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Why Choose Money3?
We’ll Give You a Fair Go
At Money3, we give everyone a fair go at obtaining car finance.
Even if you have had a low credit score or have been turned away by lenders in the past. We’ll thoroughly assess your current financial position to determine your loan eligibility1.
Flexible Loans to Suit Your Needs
We are responsible finance providers with flexible lending conditions to suit your needs. We disclose our costs and charges upfront for you to review and agree to before signing. Get one step closer to your dream car with Money3.
5-Star Customer Service
We strive to deliver friendly, helpful and attentive care to all our customers. Our knowledgeable, expert team can guide you through the loan application process. Ensuring your experience with us is straightforward and stress-free.
Fast and Friendly Application Experience
Applying for a loan with Money3 is quick and easy. Most customers taking only 5 to 10 minutes for their online application. We also have a fast approval process so that you can receive your finance as soon as possible.
Wide Range of Product Offerings
No matter what kind of finance you’re applying for, Money3 aims to provide you with a realistic loan amount. From Centrelink friendly car loans* to used car loans to personal loans, you could find a finance option suitable for you at Money31.
A Company You Can Trust
Money3 has been around a long time. We've been lending responsibly since the year 2000 with a good track record that you can trust.
We are known for our personalised loans, flexible terms and high-quality customer service. With a proven track record filled with positive reviews and ratings, you can be confident working with us.
Money3 Loans Pty Ltd
ABN 36 108 979 406
Australian Credit Licence 389067
Head Office: Level 1, 40 Graduate Road, Bundoora, Victoria 3083
Try Money3 for quick and easy loans1. Learn more about why you should choose Money3.
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Bad Credit Car Loans FAQs
A bad credit car loan is similar to any other car loan. However, due to the increased risk to the lender, the interest and repayment rates may be higher. With Money3, we like to give people with bad credit history a second chance1.
We will take your circumstances into consideration and ensure repayments are affordable to you. As a responsible lender, Money3 wants to ensure we only approve car finance if you can afford to pay it back. We consider your financial situation before making a decision.
This type of loan comes with advantages and disadvantages for borrowers, just like any other financial product.
Advantages
- Better chance of getting your loan approved
- Manageable weekly, fortnightly or monthly repayments
- Flexible repayment terms, built around your circumstances
- Chance to repair and rebuild your credit rating
- Bad credit lenders can be more understanding if you have difficulty with your repayments
Disadvantages
- The amount you could borrow may be lower
- You will usually have a higher interest rate
- Security may be required for larger loans
Loans when you have bad credit come with challenges. Since you are paying a higher interest rate to offset the risk to lenders represented by your poor credit history.
At Money3, we seek to give borrowers like you an affordable, fair and realistic options. That allows you to buy a car despite having a bad credit history1.
A car loan may be suitable if the repayments fit comfortably within your budget and you can still meet your other regular living expenses.
Before applying, consider the full cost of owning the vehicle, including repayments, insurance, registration, fuel, servicing and repairs. You can also read the MoneySmart car loans guide for independent information about car finance.
If repayments would put too much pressure on your budget, it may be worth considering other options. The free National Debt Helpline on 1800 007 007 can provide financial counselling, while No Interest Loans (NILS) may be available for eligible people who need help paying for essential goods and services.
Be cautious of lenders advertising “guaranteed approval” or “no credit check”. Responsible lenders need to assess your financial circumstances before deciding whether a loan is suitable and affordable. You can learn more about how Money3 assesses applications on our Responsible Lending page.
No, it isn't required1. However, if you have saved up a deposit, this will be an advantage and allow you to buy a car that's a higher value.
At Money3, we will give you a fair go1. So it may be easier than you think to get approved for a bad credit car loan.
Your bank and other lenders may regard bad credit history as too much of a risk. So, they will often reject your loan application without considering every factor.
We will look at your individual financial situation when reviewing your loan application. We will do our best to make sure that your repayments are reasonable and affordable to you. In some cases, we may offer same day approvals.
Money3 is a responsible lender regulated by ASIC. Our Australian Credit Licence Number is 389067.
Your credit score usually ranges from 0 to 1,000. This depends on the credit reporting agency calculating it. Most credit agencies see a score below the mid-500s as "below average". This shows a poor credit history.
Also see the bad credit loan Tips page for ways to improve your loan approval chances.
Depending on your car loan, fees may include an establishment fee, monthly account fee, late payment fee, dishonour fee and PPSR registration fee. For some loans over $12,000, a risk fee of up to $995 may also apply.
All applicable fees and charges will be clearly disclosed before you accept your loan contract, so you know what your loan will cost.
Money3 does not charge an early repayment fee, so you can pay your loan out sooner without an additional early repayment charge.
Yes, we do. Money3 is not affiliated with, or endorsed by, Services Australia. However, we do offer loans to customers receiving such payments.
The amount you may be able to borrow will be adjusted based on your overall income1. Your income can be from earnings, Centrelink benefits, or both. Money3 specialises in customers who may have experienced bad credit and are potentially receiving Centrelink payments*. Don't assume you won't get approved - Money3 will work with you to make sure your car loan is suitable and affordable for your circumstances.
Not all car loan applications are subjected to a credit check. We generally assess your application, affordability and supporting information first.
If your application passes these initial checks, we may perform a credit check before funding the loan.
Depending on the loan amount and the type of enquiry, a record may be noted on your credit report.
Yes, you could1. The score in your credit report is not the primary factor we look at when reviewing a car loan application. Unlike other lenders, we look into your unique circumstances, the affordability of the car loan, and also the loan purpose when we make our lending decision - even with bad credit.
Yes, you could. Money3 understands that sometimes unexpected expenses or periods of financial difficulty can crop up.
For example, someone might miss a credit card payment by mistake. They could forget to pay or pay the wrong company by mistake. If you are back on track and willing to commit to making your payments, then Money3 will be happy to review your application. We'll work to make sure that the fixed repayments on your new loan are reasonable and affordable to you.
Not necessarily. Your current financial situation will play an important part in the amount you could borrow from us. Money3 has a great deal of experience lending to borrowers who have experienced bad credit. We will sometimes extend the term of your loan, so your weekly repayments are more affordable.
At Money3, we believe people who have had bad credit problems deserve a second chance. As such, our application process is designed to provide fast, fair, and flexible car loans. Based on whether our customers can actually afford them, not solely on the outcome of a credit check.
No, you could get approved for a bad credit car loan with Money31. As long as you meet our eligibility criteria and have sufficient earnings to pay back the loan amount1. At Money3, we offer bad credit loans to give people who happen to have a bad credit history a fair go. We don't believe a poor credit rating should prohibit you from accessing a car loan if you can afford it.
Improving your credit score is still worthwhile. You can check your credit report with Equifax, Experian or illion, correct any errors, pay bills and repayments on time, and avoid making multiple credit applications in a short period.
Managing credit well over time may help improve your credit profile, but there is no guarantee that taking out or repaying a loan will increase your credit score.
Paying back a car loan with Money3 could help improve your chances of getting a new loan with us. And sometimes at a better rate, by demonstrating good financial management.
See more tips for bad credit loan approval.
With Money3, the application process is quick and simple. So the information you need to complete your loan application should be easily on hand.
You'll need to confirm your contact details, address, employment details and regular expenses. Optionally, you can confirm your driving licence, which will help speed up your application. After that, due to responsible lending concerns, we require 90 days of bank statements. Which can be given securely online in a few minutes.
After you supply the necessary information. Our quick approval process will determine if you are eligible for a bad credit car loan.
Yes, of course. Money3 has no hidden fees or charges. If you want to pay back the full amount of your car loan early, you won't incur any additional fees.
At Money3, we realise that unexpected events and expenses can catch you by surprise and make it impossible to repay on time.
If you encounter difficulty that prevents you from making your car loan repayments. Please contact our team on 1300 014 870, email us at customercare@money3.com.au, or fill out the Member Support contact form.
At Money3, we take a fair, flexible, and real-world approach to help borrowers manage their payments. We will take your needs into consideration and work out a fair arrangement that allows you to get back on track.
1. Subject to verification, suitability and affordability
- This information is general and doesn't take into account your objectives, financial situation or needs.
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Example Bad Credit Car Loans Costs Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,871.15 | $6,871.15 |
| 24 months at 12.95% APR & 32.60% Comparison Rate | ||
| $10,000 | $6,705.16 | $16,705.16 |
| 48 months at 12.95% APR & 27.91% Comparison Rate | ||
| $25,000 | $14,159.90 | $39,159.90 |
| 60 months at 12.95% APR & 19.30% Comparison Rate | ||
| $50,000 | $28,489.25 | $78,489.25 |
| 72 months at 12.95% APR & 16.20% Comparison Rate | ||
| $75,000 | $39,575.16 | $114,575.16 |
| 72 months at 12.95% APR & 15.13% Comparison Rate | ||
EXAMPLE: A platinum secured personal loan of $5,000 for 24 months has fees and charges totalling $1,871.15 and a total repayment of $6,871.15. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 12.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 32.60%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,159.90 and a total repayment of $39,159.90. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 12.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 19.30%.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 389067.
Loans We Offer
Car Loans
Car finance of up to $75,000 with flexible lending and loan options, for your dream car. Whether you want to go through a dealership or a private sale or purchase a new or used car.
Vehicle Finance
You could obtain finance for all auto and vehicle types with Money3. From campervans and trailers to boats and motorbikes. We'll give you a fair go!
Single Parent Car Loans
Money3 offers dedicated single parent car loans. If you are a single parent on a pension or sole parenting payment, you may be eligible for our single parent car loans.
Car Loans on Centrelink *
We'll also consider your payments from Centrelink as part of your income assessment - unlike many lenders. Car finance on Centrelink is available up to $12,000.
Pensioner Car Loans
If you’re receiving a pension (such as an aged pension, disability support pension or carers payment pension), you may be eligible for a car loan with Money3.
Bad Credit Loans
Whatever your credit score may be, Money3 may be able to help out. As long as you meet our basic lending criteria, you may apply for a bad credit personal loan of up to $30,000.
