A bad credit loan 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 credit 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, but only at the final stage, if we have found a lender looking to accept your application.
Bad credit loans are a type of loan tailored towards people who have poor credit scores. Aimed to improve loan approval chances, of people who may be overlooked and rejected by mainstream lenders and banks, due to their credit scores.
Credit scores are an estimation of an individual's credit worthiness. This helps lenders make a quick decision on whether to lend to them, based on the credit score.
Credit can be negatively impacted by missing payments, defaults, bankruptcy, part IX debt agreements or many other situations, including excessive gambling. Credit can be improved by making regular payments on loans or services over time.
Assistance is available for many purposes, including car loans, personal loans, home loans and more.
At Rapid, we offer a free credit check option, with no impact on your credit score!
With over 20 years experience, we are experts in assisting people find finance with poor credit across Australia. Even if you've been turned away by the banks, or have had problems with defaults in the past, we could still help. With decades of industry experience, our experts will work with you, to find you the right loans with bad credit.
| Product Details | Loan Type |
|---|---|
| Car Loans: Suitable for people who have a poor credit history 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 Loan Amount: $2,000 Max Loan Amount: $200,000 |
Car Loans with Bad Credit |
| Home Loans: Suitable for people wanting to refinance who may have credit 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 Loan Amount: $200,000 Max Loan Amount: $2,000,000+ |
Home Loans with Bad Credit |
| Personal Loans: Suitable for people who have bad credit, needing a loan or finance, who have recently been rejected for a loan, due to their poor credit rating Loan Purpose: To fund home renovations, car repairs, medical expenses, travel, weddings or other need Loan Term: 1-7 Years Min Loan Amount: $8,000 Max Loan 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 Loan Amount: $200,000 Max Loan Amount: $5,000,000+ |
Debt Consolidation Loans |
| Bike Loans: Suitable for people who have a low credit history 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 Loan Amount: $2,000 Max Loan Amount: $200,000 |
Bike Loans with Poor Credit |
| Boat Loans: Suitable for people who have a low credit history including ex bankrupt, Part XI, credit defaults, poor credit rating or have been previously declined Loan Purpose: Purchase of a boat or water sports equipment Loan Term: 1-7 Years Min Loan Amount: $2,000 Max Loan 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 history. 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 making sure you have enough in your account to cover direct debits. Overdrawing an account will be recorded on your credit history and can hurt your chances of getting finance.
Check your credit history for mistakes – often, defaults are listed on credit files in error or without proper diligence. A finance expert can check for mistakes and help you get them removed from the credit reporting agencies' records.
Speak to a broker – a finance broker can approach lenders on your behalf and advocate 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!
A bad credit loan is a type of loan tailored towards people who have poor credit scores, who may be overlooked and rejected by mainstream lenders and banks, due to their credit score. Credit scores are an estimation of an individual's credit worthiness. This helps lenders make a quick decision on whether to lend to them, based on the credit score. Credit can be negatively impacted by missing payments, defaults, bankruptcy, part IX debt agreements or many other situations, including excessive gambling. Credit can be improved by making regular payments on loans or services over time. Bad credit loans are available for many purposes including car loans, personal loans, home loans with bad credit and more. At Rapid, we offer a free credit check option, with no impact on your credit score!
Yes, it is possible to get approved for a loan, even with poor credit. 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, and can present your application in the best light, 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 can 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 guide you through the process, helping you understand your options, help you to improve your credit profile where possible, and match you with lenders who are more likely to approve your loan application. While we can't guarantee approval, our expertise and personalised approach, could increase your chances of securing a loan approval 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 make multiple loan applications in a short period, it might give the impression that you're in financial stress, which can have a more significant effect on your score. If you are worried about your credit, it is a good idea to use a broker like Go Rapid, so that 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 loans 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, and 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 primary difference arises during the credit check, where issues like multiple defaults, bankruptcies, or part ix agreements can make obtaining finance challenging. But 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.
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?