Get fast & flexible bad credit car loans in Australia with Money3
Money3 may be able to help1 you out with car finance when others can't.
We'll give you a fair go - even with bad credit in the past. Our bad credit car loans go up to $50,000 - depending on affordability - and that could be for any vehicle from a Car, Motorbike, Truck to a Boat or a Caravan.
Getting started is easy, complete the short form above or select the kind of vehicle loan you are looking for below and give us a few details and we get back to you as soon as possible.
1. Subject to verification, suitability and affordability
Getting your car loan approved1 with Money3, may be easier than you think. Money3 will go the extra mile for you. As long as you meet our basic criteria and we are happy that the loan is suitable and affordable for you, then we will work with you to get your car (or other vehicle) loan approved as soon as possible - even with bad credit!
Please note that your loan pre-approval offer is subject to final approval by Money3, once you have decided on the car you want.
We will consider your loan application1, even if:
1. Subject to verification, suitability and affordability
Drive away with your new car as soon as possible with our quick and easy approval process for bad credit car loans. That's right, even with bad credit history Money3 can provide pre-approval for a car loan that allows you to access the car you want without making you wait for ages to get approved.
With Money3, you can apply for a bad credit car loan in Australia if you’re a permanent resident and your weekly income (earnings + Centrelink) totals $425 or more1. We give you the second chance you deserve!
To access our bad credit car loans, you must:
Get started by completing the short form at the top of the page or clicking the button below. Simply tell us a little about yourself and we'll take it from there. We can give you a call back, or you can continue your application online and give us all the information we need to assess your loan pre-approval.
1. Subject to verification, suitability and affordability
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,211 | $7,211 |
| 24 Months at 19.95% APR & 35.97% Comparison Rate | ||
| $7,500 | $3,316 | $10,816 |
| 24 Months at 19.95% APR & 39.00% Comparison Rate | ||
| $10,000 | $6,803 | $16,803 |
| 36 Months at 19.95% APR & 38.18% Comparison Rate | ||
| $12,500 | $8,252 | $20,752 |
| 36 Months at 19.95% APR & 37.19% Comparison Rate | ||
| $15,000 | $9,701 | $24,701 |
| 36 Months at 19.95% APR & 36.53% Comparison Rate | ||
| EXAMPLE: A platinum unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,210.20 and a total repayment of $7,210.20. 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 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 35.97% EXAMPLE: A platinum secured personal loan of $10,000 for 36 months has fees and charges totalling $6,802.97 and a total repayment of $16,802.97. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 38.18% 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. |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,557 | $7,557 |
| 24 Months at 25.00% APR & 44.43% Comparison Rate | ||
| $7,500 | $3,835 | $11,335 |
| 24 Months at 25.00% APR & 44.43% Comparison Rate | ||
| $10,000 | $7,903 | $17,903 |
| 36 Months at 25.00% APR & 43.47% Comparison Rate | ||
| $12,500 | $9,627 | $22,127 |
| 36 Months at 25.00% APR && 42.51% Comparison Rate | ||
| $15,000 | $11,351 | $26,351 |
| 36 Months at 25.00% APR & 41.87% Comparison Rate | ||
| EXAMPLE: A silver unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,556.20 and a total repayment of $7,556.20. 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 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 44.43% EXAMPLE: A silver secured personal loan of $10,000 for 36 months has fees and charges totalling $7,902.74 and a total repayment of $17,902.74. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 43.47% 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.> |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,767 | $7,767 |
| 24 Months at 28.00% APR & 47.66% Comparison Rate | ||
| $7,500 | $4,150 | $11,650 |
| 24 Months at 28.00% APR & 47.66% Comparison Rate | ||
| $10,000 | $8,577 | $18,577 |
| 36 Months at 28.00% APR & 46.62% Comparison Rate | ||
| $12,500 | $10,469 | $22,969 |
| 36 Months at 28.00% APR & 45.68% Comparison Rate | ||
| $15,000 | $12,361 | $27,361 |
| 36 Months at 28.00% APR & 45.05% Comparison Rate | ||
| EXAMPLE: A bronze unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,766.35 and a total repayment of $7,766.35. 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 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 47.66% EXAMPLE: A bronze secured personal loan of $10,000 for 24 months has fees and charges totalling $8,576.21 and a total repayment of $18,576.21. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 46.62% 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. |
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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, so we will take your circumstances into consideration and ensure repayments are affordable to you. As a responsible lender, Money3 is committed to making sure we only approve car finance if you, the customer, can afford to pay it back based on your financial circumstances.
Bad credit car loans come with advantages and disadvantages for borrowers, just like any other financial product.
Advantages
Disadvantages
Bad credit car loans are always a trade-off 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 finance option that allows you to buy a car despite having a bad credit history1
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 as too much of a risk and will often reject your loan application without considering every factor. We will look at your individual financial situation when reviewing your loan application and will do our best to make sure that your repayments are reasonable and affordable to you.
Money3 is a responsible lender regulated by ASIC. Our Australian Credit Licence is 389 782.
To look at your official credit history, you need to perform your own credit check. There are several online providers that can provide you with a free credit check, but the process usually requires you to verify your identity and provide some personal information before it generates your credit score. Keep in mind: performing a credit check too often can harm your credit rating.
Depending on the credit reporting agency that's calculating your credit score, the number will typically range from 0 to 1000. Most credit agencies consider a score below the mid 500's to be "below average", which reflects a bad credit history.
Yes, we do. 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.
No, not all car loan applications are subjected to a credit check. We may run a credit check before your car loan is funded once your application has passed our initial checks. Based on the loan amount you request, an enquiry may be noted in your credit report.
Yes, you can1. The score in your credit report is not the primary factor we look at when reviewing a loan application. Unlike other lenders, we look into your unique circumstances, the affordability of the loan, and also the loan purpose when we make our lending decision.
Yes, you can. Money3 understands that sometimes unexpected expenses or periods of financial difficulty can crop up. For example, a credit card repayment could be missed in error, by simply forgetting or paying the wrong entity 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 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 with us. Money3 has a great deal of experience lending to borrowers who have experienced bad credit. We will sometimes extend the term of the loan so the weekly repayments are more affordable.
At Money3, we believe people who have bad credit history 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 can get approved for a bad credit car loan with Money3 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.
Still, repairing your credit score is something you should strive towards. Paying back a car loan with Money3 could help improve your credit score by demonstrating good financial management. When your credit score improves, you'll be able to access higher amounts of finance with lower interest rates.
Sorry, we are unable to assist anyone who is currently bankrupt or in a Part IX debt agreement.
Yes, you can. We finance all sorts of vehicles from cars, to bikes, to campervans, and boats. If the vehicle you're after is not listed in the loan purpose when you apply, just select 'Secured Loan' and our staff will get more details from you later when they call you back.
Yes, apart from car loans Money3 offers personal loans up to $12,000 and will consider applicants with bad credit history.
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, and you won't be charged any additional fees if you want to pay back the full amount of your car loan early.
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 a repayment, 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
Vehicle Finance
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ABN 63 117 296 143 / Australian Credit Licence 389 782
Call us on 1300 014 870.
