A loan with bad credit is possible. In fact, At Rapid Finance, we have helped thousands of Australians with a poor credit history. If you have unpaid defaults, credit card debts, or little documentation and need money to buy a car, home or bike, get started today:
Rapid Finance could do the hard work for you. A friendly finance specialist from our team could identify your financial strengths. This will help us negotiate with our panel of lenders who may consider your application.
Whether that be a bad credit personal loan, bad credit car loans or other goal, we could help. We are here to help find the loan or finance product you need. We may even be able to help finance a home loan with bad credit.
1 - Approval is subject to an applicant's overall profile. Your application will undergo a credit check. Only at the final stage, if we have found a lender looking to accept your application.
They are a type of loan tailored towards people with a low score or a history of repayment issues. These loans aim to improve the chances of approval for individuals who may be overlooked or rejected by mainstream lenders and banks because of their bad credit history.
A credit score is an estimate of a person’s borrowing reliability. It helps lenders quickly decide whether to offer finance based on this rating.
Scores can be negatively affected by missed repayments, defaults, bankruptcy, Part IX debt agreements, or situations such as excessive gambling. They can be improved over time by consistently meeting payment obligations on loans or services.
Assistance is available for many purposes, including car finance, personal loans, home loans and more.
At Rapid, we offer a free credit check option, with no impact on your credit score!
We have over 20 years of experience. We help people with bad financial history get loans approved across Australia.
Even if banks have turned you away or you have had defaults in the past, we may still be able to assist you. Our team has years of industry knowledge. We will help you find the right loan, even if your borrowing history isn't perfect.
| Product Details | Loan Type |
|---|---|
| Car Finance: Suitable for people who have a poor financial background including ex bankrupt, Part XI, credit defaults, poor credit rating or have been previously declined Loan Purpose: Purchase of a vehicle, such as a car, bike, boat, or caravan Loan Term: 1-7 Years Min Amount: $2,000 Max Amount: $200,000 |
Car Finance with Bad Credit |
| Home Loans: Suitable for people wanting to refinance who may have loan defaults, ex bankrupt, Part XI, poor credit rating or have been previously declined Loan Purpose: Purchase of property, such as a home in Australia Loan Term: 1-30 Years Min Amount: $200,000 Max Amount: $2,000,000+ |
Home Loans with Bad Credit |
| Personal Loans:Suitable for those with a less-than-perfect financial record who need funds or have recently been declined for a loan due to a bad credit history. Loan Purpose: To fund home renovations, car repairs, medical expenses, travel, weddings or other need Loan Term: 1-7 Years Min Amount: $8,000 Max Amount: $60,000 |
Bad Credit Personal Loans |
| Debt Consolidation Loans: Suitable for homeowner/buyers. Looking to utilise equity to consolidate loans and debts into one manageable payment Loan Purpose: Debt consolidation/mortgage refinance Loan Term: 1-30 Years Min Amount: $200,000 Max Amount: $5,000,000+ |
Debt Consolidation Loans |
| Bike Loans: Suitable for people who have a low credit profile including ex bankrupt, Part XI, credit defaults, poor credit rating or have been previously declined Loan Purpose: Purchase of a motorbike Loan Term: 1-7 Years Min Amount: $2,000 Max Amount: $200,000 |
Bike Loans with Poor Credit |
| Boat Loans: Designed for individuals with a troubled financial background, including those who are ex-bankrupt, have Part IX arrangements, past defaults, a low score, or have been previously declined. Loan Purpose: Purchase of a boat or water sports equipment Loan Term: 1-7 Years Min Amount: $2,000 Max Amount: $200,000 |
Poor Credit Boat Loans |
With access to an extensive range of financial products, Rapid Finance could help you - in spite of a poor credit record. Click below to read more about the types of loans that may be available to you.
Save - putting aside whatever you can, no matter how little, shows lenders you're financially responsible.
Pay debts - pay more than the minimum repayments on credit cards and other loans.
Pay bills on time - avoid dishonours by ensuring there are sufficient funds in your account to cover direct debits. Overdrawing your account is recorded on your financial record. This can reduce your chances of being approved for finance.
Check your report for errors - defaults are sometimes listed incorrectly or without proper verification. A finance expert can check your file, find mistakes, and help get them removed from the records kept by reporting agencies.
Speak to a broker - A finance broker can talk to lenders for you. They can highlight the strengths of your financial situation. Call 1300 467 274 to find out if we can help you.
How much would a loan cost you per month? Use our loan repayment calculators and see whether the amount you want to borrow is affordable. Adjust the loan options to find out what terms could be right for you.
Give it a shot!
It is a type of loan designed for people with a low score or a history of repayment issues. As a result, mainstream lenders may overlook or reject them. A credit score estimates someone's borrowing reliability and helps lenders quickly decide whether to approve finance.
Missed repayments, defaults, bankruptcy, Part IX debt agreements or excessive gambling can affect your credit score. They can also improve over time through consistent, on-time payments on loans or services.
Bad credit loans are available for many reasons. You can use them for car loans, personal loans, or home loans, even if you have a difficult financial history. Like all finance options, it’s important to understand the fees and charges that may apply before you accept an offer.
At Rapid, we offer free credit check option, with no impact on your credit score!
Yes, you could get approval for a loan, even with a poor credit history. Every customer's financial situation and credit history is different, which will affect your chances of approval with different lenders. So even if you have had your loan application recently rejected, we could still help get your application approved!
At Go Rapid, we have over 20 years experience, helping people with poor credit. We will review your current situation and finances. We will then present your application in the best way to the right lender.
By applying through Go Rapid, we may run a 'soft' credit check on your credit file, which is completely safe. It will not leave a mark on your file - unlike when applying directly with lenders. We could help! Check out our bad credit personal loans and get started today.
Yes, it's possible to get a car loan with poor credit. However, there are a few things to keep in mind:
Yes, it is possible to get a home loan with poor credit. Go Rapid could help find the right lender who could assist you. We have 20 years experience helping people with credit issues get their home loans approved.
Considering your credit history and current finances and needs; We can either help you find a loan right away, or guide you through the steps you may need to take to fix up your finances or credit report.
In Australia, credit scores range from 0 to 1,200. How these scores are labelled can vary between credit reporting agencies, but generally:
If your score is in the 'Below Average' range, lenders might see you as a higher risk. It could be a bit harder to get your loan approved; however, we could help. Go rapid offer our customers a Free Credit Check option, with no impact on your credit score, so you can find out where you stand.
Yes, it is possible, but not guaranteed. We have helped individuals with very bad credit, find loan options that suit their needs.
At Rapid Finance, we specialise in assisting people who have faced financial difficulties in the past. We work with a wide network of lenders, some who are willing to consider applicants with very poor credit histories.
Our team can help you through the process. We will explain your options and improve your credit profile if we can. We will also connect you with lenders who are more likely to approve your loan application.
We can't guarantee approval, but our expertise and personal approach may help you get a loan that works for you.
When you apply for a loan, the lender usually does a 'hard inquiry' on your credit report.
Each hard inquiry can slightly lower your credit score. However, the impact is often temporary and can lessen over time.
If you apply for many loans in a short time, it may seem like you are in financial trouble. This can hurt your credit score more.
If you are worried about your credit, it is a good idea to use a broker like Go Rapid. We can minimise any negative effect on your credit score, and help get your loan approved.
Debt consolidation means putting all your smaller debts, like credit card bills or car loan payments, into one bigger loan.
This could help your credit score for several reasons:
After consolidating all your debts into one loan, it's important not to accrue more debt. Speak to an expert like Go Rapid if you need assistance with Debt Consolidation.
Guaranteed approval for bad credit loans sounds impossible - but we could help.
At Rapid, we're determined to find the right finance for your situation. With the right support, hard work and patience, loan approval is possible. Obtaining finance with very bad credit can be challenging due to obstacles like defaults, part ix agreements, and bankruptcy. Call us on 1300 467 274 to find out how we could assist you, or apply online.
Learn more about your loan options with poor credit personal loans, home loans with poor credit or car finance with poor credit. Similarly, if you are receiving government benefits, you may require assistance getting your car loan approved on Centrelink.
Any loan application requires time. Applicants with credit problems may face additional challenges compared to those with a clean credit history. While we search for the best possible loan options for your situation, we'll provide a fast, honest assessment of your chances.
If you have very poor credit, we may still be able to assist, although not guaranteed. However, even if we can't assist you now, we can guide you on improving your chances in the future.
Also consider fast cash loans for emergencies where you need money fast.
Similar basic information is used to assess applicants, regardless of their credit. This includes personal and financial details, such as earnings and work history.
The main difference comes during the credit check. Problems like multiple defaults, bankruptcies, or part ix agreements can make getting finance hard.
With Rapid Finance, we emphasise the positive aspects of your application to present the best-case possible to potential lenders.
Congratulations on paying down your debts! We've assisted many individuals with a settled part ix on their credit file. Our expertise ensures the paid-out ix is fairly considered during your application instead of being the focal point. Call 1300 467 274 to discover if you qualify, or visit our car finance with bad credit page for more details.
A deposit is not always necessary, even with a poor credit history.
If you have outstanding debts, consider using your savings to settle them first. This will enhance your chances of securing finance. If you're debt-free, a larger deposit is beneficial as it reduces the lender's risk, potentially leading to a favourable interest rate. Call 1300 467 274, and we'll help convert that deposit into a new car.
So you’re thinking of finally rewarding yourself with your dream ride. Or your rust bucket of a car has disintegrated, and it’s time for an unscheduled upgrade.
It’s easy to take your car for granted when it’s sitting in your driveway awaiting your instructions for take-off. But what if it wasn’t there.
The irony of a credit score is that, often, people don’t know what theirs is like until they need to rely on it. So, how do you know if you have bad credit? And what does it mean for your loan application?