I have bad credit – can I still get a loan?

Posted on Posted in Bad credit, Car loan, Finance, Interest rates

In short, you can. The good thing about lenders these days is that they are usually willing give people a second chance. They want your business and are prepared to deal.

However, there are a couple of things to keep in mind before you make your application. If you have a bad credit history, your lender will find out.


Don’t lie on an application

It is tempting to present yourself as being a perfect customer, with a perfect credit rating. But lets be honest, nobody is perfect and we’ve all missed a payment once in our lives. Any kind of official application for finance will involve a credit history check (our quote to compare lenders does not register a blip on your credit file)

This check will bring up all your details and any records of default you may have in your past. If you lie on your application, the lender is less likely to take that application seriously and will likely deny credit. But if you’re upfront about your situation, and don’t hide anything, the lender may have more faith in your honesty and ability to make regular payments.


Simple ways to improve your prospects of approval

There are some simple, yet effective ways to increase the likelihood of securing a loan for your new vehicle:

  • have a regular income with job security – even if you can negotiate your employment from casual to permanent part-time, this may help.
  • live within your means – your bank records will paint a picture of your spending and if you can show that you’re a diligent saver, your lender will take note.
  • full disclosure – don’t hold anything back from your application, even if it may not look great for you. Your lender will figure it out anyway.



Even though you may be embarrassed by your past credit history, it may not hold you back from the vehicle of your dreams. Lenders are happy to work with you and negotiate an outcome that is fair and reasonable.

Speak to our finance team today and we will do all that we can to secure a loan for you on the best terms possible.