Loan Direct
Bad Credit Car Loans
Need a bad credit car loan? Apply in just 2 minutes and have your loan approved today!*
- Unsecured car loans from 11.95%
- Borrow up to $75,000 unsecured, or $150,000 secured
- Approval within 1-2 hours*
- Easy online process
- Friendly loan advisors
*Subject to responsible lending checks and lending criteria.
How to Get a Car Loan with Bad Credit
If you have a poor credit history but need a new car, you might be concerned about your ability to secure a loan. Many individuals with low credit scores assume that obtaining a car loan is impossible, but that’s not necessarily true. Loan Direct works with people everyday with bad credit scores to help them get back on track.
We firmly believe that a poor credit score shouldn’t result in high interest rates and hidden fees; our goal is to create a fair borrowing experience. When you seek a car loan through Loan Direct, we’ll reach out to discuss your unique situation, understand the reasons behind your low credit score, and explore your available options.
If affordability is a concern, we can make the loan easier on your finances by extending the repayment period. If you have regular income, and your existing debt is under control, there is a good chance we will be able to find a positive outcome for you.
Our extensive network of low-cost lenders allows us to tailor a solution that meets your needs. We pride ourselves on high approval rates, even for those facing credit challenges.
Loan Direct Helps You Improve Your Credit Score
When you apply for a car loan, responsible lenders must consider your credit history when deciding whether or not to lend you money. If you have a history of missing payments on debt or bills, your credit score might be poor.
Your credit score ranges from 1 to 1000, with 1 indicating the lowest and 1000 the highest possible rating. A score of 500 is deemed acceptable, while most individuals fall within the range of 300 to 850. Scores below 300 are classified as poor credit.
The encouraging news is that a bad credit score isn’t permanent—it can be improved! Many financial institutions and utility companies participate in “positive credit reporting”, which means that consistently making your loan repayments on time and in full can actually boost your credit score.
At Loan Direct, we are a positive reporting provider, which means taking out a loan with us gives you the chance to enhance your credit score.
Types of Car Loans
Unsecured car loans
- Simply borrow an amount of cash to spend as you like.
- Freedom to shop as a cash buyer.
- Buy a car from anywhere – TradeMe, Marketplace, car dealer, or at auction.
- No conditions on the car you buy
- Borrow up to $75,000
- Interest rates from 11.95%
Secured car loans
- The vehicle itself is used as collateral against the loan
- Car needs to be approved by lender before loan is given
- Potentially lower interest rates from 9.95%
- Borrow up to $150,000
Not sure which one is best for you? Get in touch with our friendly team today for a free chat!
The Benefit of Making Just One Application
If you are struggling with bad credit but urgently need a car loan, you might think applying for a loan with various lenders will improve your chances of approval. However, this approach can be counterproductive.
Each loan application triggers a credit check, which is recorded on your credit file. When your credit file shows multiple checks in a short time frame, it can signal “credit distress,” indicating you may be facing difficulties in meeting your financial obligations.
This is why working with a loan broker like Loan Direct can be hugely beneficial. When you apply for a loan through us, we present your application to several low-cost lenders.
You only need to submit one loan application and undergo just one credit check. This is great for you since it won’t adversely impact your credit score. Plus, sending your application to multiple lenders increases your chances of receiving approval!
Why Choose Loan Direct
Loan Direct is your local team delivering world class service. We specialise in quick, seamless loans that eliminate unnecessary hassle.
As a fully online loan broker, our process is designed for your convenience—no paperwork, no frustrating appointments; you can manage everything from anywhere you like. Our online application form takes just 2 minutes to complete, and we can usually get approval within 1-2 hours*.
Our dedicated team strives to secure affordable loans at competitive rates, ensuring you don’t pay more than necessary. With interest rates starting at 9.95%* and flexible loan terms ranging from 6 months to 7 years, we’re equipped to find the perfect solution for you.
We are specialists in personal loans, bad credit loans, debt consolidation loans, and much more.
Reach out to our friendly loan advisors today for a complimentary, no-obligation discussion about your financial situation.
*Subject to responsible lending criteria
