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At Rapid Finance, we specialise in new car loan approvals swiftly and easily, ensuring no additional enquiries on your credit report.
Getting a new car loan can feel like a challenge, especially if your credit history is not that good. But at Rapid Finance, we will do what we can to make it happen. We've been helping Aussies for over 20 years get new car finance approved, understanding that sometimes life happens. Maybe you're self-employed, work part-time, have had some credit issues, or get Centrelink payments. No worries! We offer a free credit check option that won't hurt your credit score, so you can see what lenders see when they access your credit report. We're here to help you get that car loan and even assist you to improve your credit over time. With our network of specialist lenders, we can find a loan that fits just right for you.
Buying a new car can be an exciting venture, offering a host of benefits that extend beyond just the allure of a new vehicle.
From the latest technological advancements to warranties and enhanced fuel efficiency, new cars present distinct advantages over their used counterparts. Here are some key benefits to consider:
Learn your chances of loan success with a free Rapid Finance credit check. It’s fast and easy, and it won’t affect your credit rating. Request your score today – it only takes a few minutes!
Yes! Rapid Finance caters to varied employment situations, including self-employment and part-time work.
Yes, it may be possible. With our Wholesale Car Network Option, we assist you in finding the perfect vehicle, offering savings and free vehicle checks.
You'll generally need to provide identification, proof of income like payslips, and a 90-day bank statement history.
Not necessarily. We assess all applications individually and have experience assisting those who receive Centrelink payments get their car loans on Centrelink.
Yes, with Rapid Finance, it is possible. You can still apply for a new car loan even if you've had bad credit in the past or currently. We specialise in assisting individuals who have faced challenges securing loans from mainstream lenders. Our dedicated team could even provide guidance on improving your credit profile over time. See our bad credit car loans page to get started.
The duration of repayments on your new car loan varies based on the loan amount and your individual financial situation. Once you complete our "Free Financial Assessment" form, a dedicated finance professional will discuss the best options tailored specifically for you, providing clarity on repayment terms. Generally car loans range from 2 to 7 years and for new cars, you should expect the loan term to be from 5 to 7 years.
It's not necessary to find a new car before applying with Rapid Finance. In fact, knowing your loan approval status and borrowing capacity can be beneficial when shopping around. Additionally, with our Wholesale Car Network Option, we can assist you in finding the perfect vehicle after your loan is approved, offering savings and free vehicle checks.
The decision to buy a new or used car depends on personal preferences, needs, and financial circumstances. New cars often come with the latest features, warranties, and can be financed at competitive rates. Used cars, on the other hand, can be more affordable upfront and might have slower depreciation after purchase. Rapid Finance can assist with loans for both new and used cars, depending on your preference.
Also check out our used car finance page to compare the advantages.
Interest rates can vary based on the type of vehicle, its age, and individual financial circumstances. Typically, new cars may have competitive interest rates due to their lower risk profile (newer cars often have fewer issues and retain their value longer). However, Rapid Finance works with a large lending panel, ensuring we find competitive rates for both new and used vehicles based on your unique situation - even if you have a bad credit history.
Rapid Finance doesn't have a strict "minimum credit score" for financing a new car. You could get finance even with a bad credit score. We assess each application on a case-by-case basis, taking into account the entire financial picture of the applicant. Even if you've had credit challenges in the past, we specialise in finding finance solutions. Additionally, we offer a free credit check report without impacting your credit file, helping you understand and potentially improve your credit situation.