Get fast & flexible bad credit car loans in Australia with Money3
Money3 could help you get car finance when others can’t1.
We’ll consider your loan application even if you have bad credit or receive income from Centrelink. Money3 could provide you with up to $75,000 to purchase any vehicle, including Cars, Motorbikes, Trucks, Boats, Caravans, and more (depending on affordability).
It’s easy to get started. Complete the short form on this page, and we’ll get back to you quickly.
1. Subject to verification, suitability and affordability
We believe in giving everyone a fair go. If your loan applications have been rejected in the past due to you receiving Centrelink payments or because you have bad credit history, you could still get car finance with Money31.
Money3 will still consider your loan application, even if:
To be eligible for a loan from Money3, you firsty need to meet our basic eligibility criteria. As long as we are happy that the loan is suitable and affordable for you, we’ll help you get your loan for a car (or another type of vehicle) approved as fast as we can.
Please remember that once you have decided on the vehicle you want to purchase, your loan pre-approval offer is subject to final approval by Money3.
1. Subject to verification, suitability and affordability
Money3’s quick and easy bad credit car loans mean you could be enjoying your new car, motorbike, caravan, or other vehicle sooner than you think. Our fast pre-approval process means you could get up to $75,000 towards your vehicle of choice, even with a bad credit history1.
If you’re a permanent resident with an income (including Centrelink) of at least $2,080 a month, you can apply for a bad credit car loan in Perth. We’ll give you a fair go!
To apply, you must:
Complete the short form at the top of the page or click the button below to get started. To get started, all we need is a few basic details, and you'll be on your way. You can continue to complete your application online, or if you prefer, you can resume it later from our reminder emails which allow you to jump right in, where you left off.
1. Subject to verification, suitability and affordability
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,909 | $6,909 |
| Platinum secured personal loan for 24 months at 13.95% APR & 34.16% Comparison Rate | ||
| $10,000 | $6,925 | $16,925 |
| Platinum secured personal loan for 48 months at 13.95% APR & 29.11% Comparison Rate | ||
| $25,000 | $14,850 | $39,850 |
| Platinum secured personal loan for 60 months at 13.95% APR & 20.38% Comparison Rate | ||
| $50,000 | $30,285 | $80,285 |
| Platinum secured personal loan for 72 months at 13.95% APR & 17.23% Comparison Rate | ||
| $75,000 | $42,219 | $117,219 |
| Platinum secured personal loan for 72 months at 13.95% APR & 16.15% Comparison Rate | ||
|
EXAMPLE: A platinum secured personal loan of $5,000 for 24 months has fees and charges totalling $1,935.15 and a total repayment of $6,935.15. The Minimum loan term is 24 months and the Maximum term 24 months. The loan term will be 24 months, 52 fortnights or 104 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 34.58%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,850.43 and a total repayment of $39,850.43. 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 13.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 20.38%. 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 389 067 |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,313 | $7,313 |
| Silver secured personal loan for 24 months at 19.95% APR & 40.63% Comparison Rate | ||
| $10,000 | $8,676 | $18,676 |
| Silver secured personal loan for 48 months at 19.95% APR & 35.35% Comparison Rate | ||
| $25,000 | $20,883 | $45,883 |
| Silver secured personal loan for 60 months at 19.95% APR & 27.39% Comparison Rate | ||
| $50,000 | $42,963 | $92,963 |
| Silver secured personal loan for 72 months at 19.95% APR & 23.32% Comparison Rate | ||
|
EXAMPLE: A silver secured personal loan of $5,000 for 24 months has fees and charges totalling $2,313.37 and a total repayment of $7,313.37. The Minimum loan term is 24 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 $5,000 over two years, is 40.63%.
EXAMPLE: A silver secured personal loan of $25,000 for 60 months has fees and charges totalling $20,883.12 and a total repayment of $45,883.12. 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 19.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 27.39%. 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 389 067 |
||
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,661 | $7,661 |
| Bronze secured personal loan for 24 months at 24.95% APR & 46.04% Comparison Rate | ||
| $10,000 | $10,216 | $20,216 |
| Bronze secured personal loan for 48 months at 24.95% APR & 40.60% Comparison Rate | ||
| $25,000 | $25,625 | $50,625 |
| Bronze secured personal loan for 60 months at 24.95% APR & 32.59% Comparison Rate | ||
| $40,000 | $44,982 | $84,982 |
| Bronze secured personal loan for 72 months at 24.95% APR & 29.27% Comparison Rate | ||
|
EXAMPLE: A bronze secured personal loan of $5,000 for 24 months has fees and charges totalling $2,660.80 and a total repayment of $7,661.80. The Minimum loan term is 24 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 24.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 46.04%.
EXAMPLE: A bronze secured personal loan of $25,000 for 24 months has fees and charges totalling $25,625.34 and a total repayment of $50,625.34. 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 24.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 32.59%. 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 389 067 |
||
Bad credit car loans work the same way as other types of vehicle finance. The main difference is the level of risk to the lender, which may result in increased interest and repayments. At Money3, we believe in giving people who have poor credit history a fair go1, and we’ll ensure that repayments are affordable to you based on your financial circumstances. Because we are committed to responsible lending, we only approve finance for customers who we believe can comfortably afford to pay it back based on their regular income, considering their other financial commitments (like loans, rent and utilities).
As with any financial product, bad credit car loans have their pros and cons.
Pros:
Cons:
Bad credit loans are always going to be a trade-off. To access finance with a poor credit rating, you need to be prepared to pay higher interest. At Money3, our goal is to provide all kinds of borrowers with a finance option that is reasonable and affordable for them based on their financial circumstances, even if they have bad credit history1.
No, a deposit isn’t required. However, if you’ve got a deposit saved up, it can help you afford a higher value vehicle when combined with your loan pre-approval.
Other lenders could be unwilling to lend to you due to your bad credit history without considering other factors that govern your ability to repay the loan. At Money3, we will give you a fair go1, and look at all aspects of your financial situation when assessing your loan application. We work to ensure that the loan is affordable to you, not whether you have had bad credit or receive income from Centrelink.
Money3 is a responsible lender regulated by ASIC. Our Australian Credit Licence is 389 067.
To check your own credit history, you need to undertake a credit check against yourself (similar to what lenders do when they assess your loan application). Different online providers can help you perform a credit check for free, but you will need to provide some personal information to them. It’s important to remember that performing a credit check too often can harm your credit score in the same way that applying for several loans at once does.
The way credit score is calculated will depend on the credit reporting agency, but in most cases, the score ranges between 0 and 1000. If your credit score is below 500 or “below average”, most lenders would consider it bad.
Yes, we do. How much you could borrow from us will be adjusted by your income, which can come from work earnings, Centrelink benefits, or a combination of the two. Don’t assume you won’t be approved; Money3 is adept at lending to people who have had bad credit or receive government benefits, and we’ll work with you to provide you with a suitable and affordable loan if we can1.
We don’t perform a credit check on all loan applications. We will run a credit check after our initial checks before pre-approval. Note that this credit check, if it occurs, may cause an enquiry to be noted in your credit report.
Yes, you could1. Your credit score is not the main factor we look at when considering your finance application. We’ll assess a variety of different factors to determine your suitability for a loan.
Yes, you could1. Money3 knows that unexpected financial challenges can sometimes occur, causing a default to be listed on your credit file. As long as you are back on track, and committed to making repayments on time, we can review your application. We’ll ensure that the repayments for any loan with us are reasonable and affordable for you.
Not necessarily. At Money3, we are mainly concerned with your capacity to repay the loan based on your current financial circumstances, and we have experience lending to people who have had bad credit in the past. In some cases, we can extend the loan term to make repayments more affordable.
If you have had bad credit, we believe you deserve a second chance, and shouldn’t be prohibited from securing a loan if it’s suitable for you. Money3 provides fast, flexible, and fair finance for customers we believe can comfortably make repayments and approval is not based solely on a credit check.
No, Money3 could provide you with a bad credit car loan in Perth if your earnings are sufficient, and you meet our eligibility criteria1. We’ll give you a fair go, even if you have bad credit history.
However, you should still strive to repair your credit rating if you can. Doing this will enable you to access more finance with lower interest rates. Paying back your loan with Money3 without any issues could help to improve your credit score.
Sorry, we cannot assist anyone who is currently bankrupt or in a Part IX debt agreement.
Yes, you could1. Money3 can finance almost any vehicle, from cars to bikes, boats, campervans, and more. We can even provide finance for horse floats and other types of trailers. If the type of vehicle you want isn’t listed, just select ‘Secured Loan’, and our team will ask you for more details as part of your application.
Yes. Besides car loans, Money3 could also provide you with a personal loan of up to $30,0001, and we will consider those with bad credit history or receiving Centrelink income.
Money3’s application process is quick and simple - the information you need shouldn’t be hard to collect. We will need to confirm your contact details, address, employment details, and regular expenses (like rent and other loans). You can also choose to verify your driver’s license, which will help to speed up your application. Due to responsible lending obligations, we will also need 90 days of bank statements which you can provide online in a few minutes.
Once we have the necessary information, we will determine your eligibility for a loan.
Yes, of course. We have no hidden fees or charges, so there’s no downside to paying back your loan early if you want to.
1. Subject to verification, suitability and affordability
Vehicle Finance
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ABN 36 108 979 406 / Australian Credit Licence 389 067
Call us on 1300 014 870.
