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Bad credit car finance, Perth brokers, Australia wide

Bad Credit Car Loans Perth

Been knocked back on a bad credit car loan? You’re not out of options.

Banks say no to a lot of applications that a specialist lender would happily approve. The problem isn’t always your credit history. It’s often that the application went to the wrong lender.

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Call (08) 9472 3000

4.8 from 300+ reviews

Free assessment – no impact on your credit score

Licensed finance broker, ACL 392426

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Why Use a Broker for Bad Credit Car Finance

Here’s something most people don’t realise. Every time you apply for finance directly, it leaves a mark on your credit file. Apply to three banks and get rejected by each one, and those enquiries stack up, making the next application even harder to get across the line. That’s where using a broker makes a real difference.

One submission, 
the right lender

At Yes Loans, our brokers assess your situation first, then match you to the lender on our panel most likely to approve your application. We submit once. That single approach protects your credit score and significantly improves your chances compared to applying blind across multiple lenders yourself. repayments.

Access to specialist lenders 
your bank can’t offer

Our panel includes lenders like Pepper Money, Money3, Sovereign Credit, Angle Finance, Latitude Financial, and Allied Credit. Some of these lenders specifically write bad credit car loans and assess applications very differently from a mainstream bank. You won’t find them walking into a branch. That’s the broker advantage.

We work harder 
to say yes more often

If you’ve had defaults, missed payments, or a rough patch financially, that doesn’t write you off. Different lenders have different credit appetites, and our brokers know which ones are more likely to say yes to your situation. That’s especially true for the applications that need a bit more work.

And an honest read 
before you apply, not after

Our brokers can review your file and give you an honest read on your options before you apply. Our team is here to give you an honest assessment of your options, not just a yes or no from a form. That’s what you’ll get from one of these eight.

Who it is for

What Is a Bad Credit Car Loan?

A bad credit car loan is vehicle finance designed for people who don’t qualify for standard bank lending. That might mean you’ve got defaults on your file, a history of late payments, past bankruptcy, or you’ve just never built up much of a credit history at all.

A default on your credit file

Yes, it’s possible. A default doesn’t automatically rule you out, particularly with specialist lenders who assess the full picture rather than just a score. The age of the default, whether it’s been paid, and your financial conduct since then all factor in.

 

A history of late payments

Specialist lenders focus on your current ability to repay, not just what happened two or three years ago. That’s a meaningful distinction if your finances are in better shape now than your credit file suggests.

Past bankruptcy

You generally need to be discharged from bankruptcy before applying, and most specialist lenders want to see at least 12 months since discharge. Some lenders may require longer. The further behind you the bankruptcy is, and the cleaner your banking conduct since then, the more options tend to open up.

Never built up much credit history

A thin file is not a bad file, and it is one of the most common reasons a perfectly affordable application gets declined by a mainstream lender. Consistent income and steady banking conduct do most of the work here.

Centrelink forms part of your income

Some lenders on our panel do consider applications where Centrelink payments form part of your income. It’s assessed on a case-by-case basis, and the outcome depends on the type and amount of payments, your overall expenses, and the vehicle being financed.

The core mechanics are the same. You borrow a set amount, secured against the vehicle, and repay it over a fixed term with a fixed interest rate. What’s different is who assesses the application and how. Explore your car loan options if you are not sure a bad credit loan is the one you need.

Rates and repayments

What to Expect With Rates and Repayments

It’s worth being upfront about this. Bad credit car loans typically carry higher interest rates than standard car loans because the lender is taking on more risk. Rates vary depending on your credit profile, income, and the vehicle you’re financing, so we can’t quote a single number here that’s meaningful for everyone.

The worked example, rate by rate

10% p.a. 14% p.a. 18% p.a. 22% p.a.

A worked example of how rates affect your repayments on a $25,000 secured car loan over 5 years. Move the sliders below to put your own numbers in instead.

$5,000 $100,000
1 year 7 years
5% 30%

This rate is yours to set, not ours to quote. Yes Loans is a finance broker: lenders price each application after they have read it, and on a bad credit file the range is genuinely wide. Test the top of the slider as well as the bottom so the number cannot surprise you later.

Monthly repayment (approx.) $415
Weekly $96
Rate you are testing 10.00% p.a.
Total interest paid (approx.) $9,862
Total repaid $34,862
Talk to a broker
These figures are indicative only. Comparison rates factor in most standard fees and charges and will differ from the interest rate shown. Different loan amounts, terms, and fee structures will produce different comparison rates and total costs. Talk to a broker for a personalised quote.

Worth knowing

If you keep up your repayments consistently for 12 months, many clients in this situation are able to refinance at a better rate as their credit profile improves. It's not guaranteed, but it's a genuine path forward. You can also estimate your repayments on our full loan calculator.

The part most people do not realise

What happens to your credit file when you apply

Every time you apply for finance directly, it leaves a mark on your credit file. Set how many lenders you would have tried on your own, and compare the two files.

Lenders you apply to yourself 3
1 lender 5 lenders

Applying yourself

3 hard enquiries on your file, one for every lender you approach. Each one is visible to the next lender that looks.

Apply to three banks and get rejected by each one, and those enquiries stack up, making the next application even harder to get across the line. This is the most common version of the story we hear.

Through a broker

1
and nothing else

At Yes Loans, our brokers assess your situation first, then match you to the lender on our panel most likely to approve your application. We submit once. That single approach protects your credit score and significantly improves your chances compared to applying blind across multiple lenders yourself.

One enquiry, placed with the lender most likely to say yes.

Side by side

Applying Direct to a Bank, or Using a Yes Loans Broker

That’s where using a broker makes a real difference.

Applying Direct to a Bank

One lender, one answer
Lender options
One
Impact on credit file
Hard enquiry per application
Bad credit experience
Limited or none
Application support
Self-managed
Approval rate for challenging files
Lower

Using Yes Loans Broker

A panel, matched first
Lender options
Multiple specialist lenders
Impact on credit file
Single enquiry, matched first
Bad credit experience
Specialist lender panel
Application support
Broker guides you through
Approval rate for challenging files
Higher, matched to right lender
Talk to one of our brokers today – no obligation. Call 1800 979 746 or apply online.

It’s not just your score

What Lenders Actually Look At

A credit score matters, but it’s rarely the whole story. Specialist bad credit lenders look at a broader picture of your financial situation. Here’s what typically carries weight in an assessment:

An Australian couple at a kitchen table in the evening going through a spread of printed bank statements together

Stable income

Regular employment or verifiable self-employed income. Centrelink income can also be considered by some lenders.

Banking conduct

Your bank statements over the last 3 to 6 months. Consistent incomings and manageable outgoings matter more than people expect.

Employment stability

Time in your current role. Even a few months of consistent employment is a positive signal.

Vehicle value and age

Lenders often have restrictions on vehicle age and condition. A realistic vehicle choice for your budget strengthens your application.

Deposit

Not always required, but even a small deposit reduces lender risk and can improve your approval odds and the rate you're offered.

The gap a broker fills

What we see in practice is that applicants who have been knocked back before often have a reasonable case, but it wasn’t put to the right lender.

Hear From Our Customers: We Offer the Best Finance Deals

Perth based, every one of them

The brokers who will read your file

It comes down to knowing the panel, knowing which lenders write what, and putting together an application that gives your situation the best chance. That’s what our brokers do. Every rating below is that broker’s own Google rating as published on the Yes Loans about page.

Goran Babac

General Manager

5.0 (22)

Trent Cray

Sales Manager

5.0 (17)

Ridge Kidd

Finance Broker

5.0 (22)

Trent Hilliam

Finance Broker

5.0 (17)

Cooper Boyd

Finance Broker

5.0 (4)

Stephen Pastorelli

Finance Broker

5.0 (2)

Aidan Daggett

Finance Broker

5.0 (1)

Vojin Jancic

Finance Broker

5.0

Leo Rifici 

Finance Broker

5.0

Paddy Knight

Business Development Manager

5.0 (1)

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Before you apply

What You'll Need to Apply

Getting your documents together before you apply makes the process a lot smoother. Here’s what most lenders will ask for:

Valid photo ID

Driver’s licence, passport or Medicare card.

Proof of income

Recent payslips, or bank statements if you’re self-employed.

Bank statements

From the last 3 months.

Vehicle details

Details of the vehicle you’re looking to finance, if you’ve already found one.

Current commitments

Details of any current debts or repayments.

If you’re self-employed or on Centrelink income, some lenders on our panel can still work with you. The documentation requirements may be slightly different, but it’s worth having a chat with our team before you assume you won’t qualify. We can look at your full range of car loans and point you toward the best fit, or you can start a fast online car loan application whenever you are ready.

Bad credit car loans, in plain terms

What Is a Bad Credit Car Loan?

A bad credit car loan is vehicle finance designed for people who don’t qualify for standard bank lending. That might mean you’ve got defaults on your file, a history of late payments, past bankruptcy, or you’ve just never built up much of a credit history at all.

The core mechanics are the same. You borrow a set amount, secured against the vehicle, and repay it over a fixed term with a fixed interest rate. What’s different is who assesses the application and how. Specialist lenders focus on your current ability to repay, not just what happened two or three years ago. That’s a meaningful distinction if your finances are in better shape now than your credit file suggests.

Ready to Get Back Behind the Wheel?

At Yes Loans, we’ve placed plenty of car loans that a bank said no to. It comes down to knowing the panel, knowing which lenders write what, and putting together an application that gives your situation the best chance. That’s what our brokers do.

Based in Victoria Park, Perth, we work with clients across WA and nationally. Our team is here to give you an honest assessment of your options, not just a yes or no from a form.

Yes Loans (ACL 392426) is a licensed finance broker. Credit approval is subject to lender assessment, individual circumstances, and responsible lending obligations. Fees, charges, and comparison rates vary by lender and loan structure.

Read next

The Benefits Of Using A Finance Broker

In the guide Why one application beats four

Read the guide
  • One application reaches a whole panel
  • A broker knows which lender writes what
  • Your credit file takes one enquiry, not four
  • You get an honest read before you apply

Victoria Park, Western Australia

We've placed plenty of car loans that a bank said no to.

4.8

from 281 reviews on Google

8

brokers, every one of them in Perth

1

enquiry on your credit file, not four

$0

to get an assessment, and no impact on your score

A man in a work shirt standing at the open driver's door of a used sedan in warm late afternoon sunlight

Ready to Get Back Behind the Wheel?

At Yes Loans, we’ve placed plenty of car loans that a bank said no to. Based in Victoria Park, Perth, we work with clients across WA and nationally.

Call us on (08) 9472 3000 or apply online today. There’s no obligation to proceed, and a chat with one of our brokers won’t affect your credit score.

Apply online now
Call (08) 9472 3000

From the Yes Loans blog

Latest insights

All news and guides

Frequently Asked Questions

Can I get a bad credit car loan with a default on my credit file?

Yes, it’s possible. A default doesn’t automatically rule you out, particularly with specialist lenders who assess the full picture rather than just a score. The age of the default, whether it’s been paid, and your financial conduct since then all factor in. Our brokers can review your file and give you an honest read on your options before you apply.

A hard credit enquiry will appear on your file when a lender formally assesses your application. That’s why applying to multiple lenders yourself can compound the problem. Working through Yes Loans means we assess your situation first and submit to the most suitable lender once, reducing unnecessary hits on your file.

There’s no single figure that applies across all lenders, but lenders generally need to see that you can comfortably service the repayments. Most specialist lenders want to see consistent income, whether that’s from employment, self-employment, or in some cases, government payments. Our brokers can give you a clearer picture once they’ve looked at your situation.

Some lenders on our panel do consider applications where Centrelink payments form part of your income. It’s assessed on a case-by-case basis, and the outcome depends on the type and amount of payments, your overall expenses, and the vehicle being financed. It’s worth talking to a broker before you write yourself off.

You generally need to be discharged from bankruptcy before applying, and most specialist lenders want to see at least 12 months since discharge. Some lenders may require longer. The further behind you the bankruptcy is, and the cleaner your banking conduct since then, the more options tend to open up. Our brokers can give you a realistic picture based on where you’re at.

It can. Making your repayments on time, every time, is one of the most effective ways to improve your credit profile over time. A bad credit car loan, managed well, puts positive repayment history on your file. After 12 months of consistent repayments, some clients look at refinancing into a better rate as their profile improves. We also offer debt consolidation loans if you’re juggling multiple repayments and want to simplify things.

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