Bad Credit Car Loans
Need a second chance? Get Savvy on your side and get approved.
Need a second chance car loan? We can help
Don’t let bad credit hold you back. Savvy helps you drive away your own car sooner
Bad credit is OK
Do you have a bad credit rating? Have you been rejected for car loans? You deserve a second chance! At Savvy, our experienced bad credit car loan consultants can help you achieve your dream of owning a new or second hand car, even if you have bad credit.
Don’t despair! Our bad credit car loan consultants are experts at getting those tricky deals approved. We can also advise you on steps to take to improve your credit rating and have you on your way to owning your car in no time.
Trusted brand
So if you think you deserve a second chance, Savvy can help. Although a Bad Credit Car Loan solution is secured by the vehicle, the interest rates are usually higher due to the added risk, however we will help you get the best car loan deal with repayments which you can afford.
That’s our promise! If you have been rejected by traditional lenders, contact one of our experienced consultants and we will find a car loan to suit your needs from one of our reputable lenders.
More bad credit customers trust Savvy
We use our extensive experience in bad credit car loans to help you gain approval. You get a personalised consultant from start to finish.

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Your car, your way
How can you get approved with bad credit?
Follow these steps to increase your chances of bad credit car loan approval
Review your statement and credit history
The first step is reviewing your bank or financial statements and your credit history. Your credit history is how a lender finds your suitability for a car loan.
If it has errors, it may end up costing you even more in the future.
Use your existing records
Using your statements and credit history, you can state your case that you will pay your lender back. Lenders hate risks, and try to offset that risk by rejecting risky applicants.
By reducing your risk profile, you are better positioned for approval.
Don’t cook your own books.
Just like life, honesty is the best policy. Don’t try to fudge the numbers or hide your true financial position.
We’re here to help, and your consultant can’t help you with incorrect information. Lying will come back to haunt you.
Pay outstanding debts
Paying down other debts such as credit card debt or personal loans will go a long way to prove you are taking steps to become financially responsible.
Debt consolidation may also be a good option as it can simplify your repayments.
Seek help
If financial statements and credit histories sound a bit like jargon, you aren’t alone.
Our professional consultants are here to help you through the process and explain any terms or concepts that you may not understand.
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Some of your bad credit car loan questions answered
Read through our knowledge base to find answers to all your common bad credit car loan questions
A bad credit car loan is an automotive finance product that caters for those who have bad credit histories or high credit risks. Lenders consider people who have defaulted on credit, are former bankrupts or parties to Part IX Debt Agreements as seen as high credit risks, which decreases their chances of car loan approval.
If lenders and car loan brokers have deemed you to have bad credit or as a high risk, you may still have access to car finance. Unfortunately, these interest rates are noticeably higher than the usual market rates on offer to those who are in a prime borrowing position.
Yes, if you have been discharged from a bankruptcy you can still get a car loan. Unfortunately, you must prepare yourself to pay a much higher interest rate than is usually advertised, sometimes higher than 19%. However, if you have not been discharged from your bankruptcy, you cannot get a car loan. There may be some lenders providing no credit check car loans however the interest rates would be higher and comes with some other drawbacks.
If you got a bad credit car loan and have been keeping up with repayments and obligations, you can look around to refinance your car loan with other lenders. You will need to prove you’re in a better financial position than before to a new lender. One other way is to trade in your current vehicle and pay out the bad credit car loan in full.
A Part IX Debt agreement is a formalised, legally-binding agreement between yourself and your creditors to pay back debts.
Yes – we can give you finance pre-approval so you know exactly how much you can spend on a car, and gain leverage over negotiating dealers.
Yes. However, you may run the risk of a higher interest rate due to the low residual value of your car. Ask your consultant for more details.
Yes, however we recommend you apply for a chattel mortgage or hire purchase. These are commercial finance packages designed specifically for business, and can save you on tax.
No – our consultants will help as much as possible to find a lender that will approve finance, even with defaults on your credit history. Of course, you must be prepared to accept higher than average interest rates.
It can vary, but your consultant can get approval for you within the same day.
Your guide to bad credit car loans
Guides to help you gain the best chance at bad credit car loan approval
Use a car loan calculator to budget
Presenting a solid budget to a lender increases your chances of approval. You must know: How much can you afford to in repayments each week, fortnight or month? Have you figured out registration, maintenance, insurance and fuel? How much have you saved already, and what is the gap between what you’ll need for a loan and what you already have? You can set a budget by using a car loan calculator, which gives you an estimate of repayments.
Budget for a car within your means
Before searching for any type of car, you must consider your financial situation. Though we’d all love a supercar, that is way out of reach for most people. You must make sacrifices if you want to ensure approval for a bad credit car loan. Look around online and in trade papers for cars within a modest price range. If you are approved for finance, ask for pre-approval so you stick to that budget.
How bad credit car loans may correct your credit?
Bad Credit Car Loans can be an instrument to repair your credit. Demonstrating you are responsible with your finances, your credit history will improve over time. It may take years – as much as seven years – but paying off a loan on time and in full will show other lenders you are a lower risk. In some cases, your risk profile may go down enough that you can refinance your car loan at a more favourable rate.
No credit check car loans - Don’t take the bait
If you feel frustrated due to car loan rejections from banks or lenders, it’s tempting to opt for a no credit check car loan. This can often lead you down a garden path, as no credit check lenders assume you are the highest possible risk, and only lend at the highest possible interest rate, sometimes up to and over 30%! You may also have to come up with a big deposit and pay off the loan over a longer term, costing you much more.