One lender was willing to approve if she organised a payment arrangement for her past default while another would accept if she offered a deposit from genuine savings.
Amelia is a single mum with a financial situation that isn’t exactly straight forward – she receives benefits from Centrelink and works as much as she can at her casual retail job. In between, there are four children to raise – a challenge for any parent.
Her old car is fast becoming inadequate for her needs. She needs something that can handle the demands of a growing family, and begins looking for finance for an SUV. But there's another problem: bad credit. Specifically, there's a car loan that was originally taken out with her old partner that remains unpaid.
Even though she and her old partner went separate ways, she still carries around a bad credit history from this default. When combined with her casual employment and Centrelink, lenders flatly refused to consider her application for car finance. So she applied with Rapid Finance instead.