Rent To Own Cars In Australia

What is a rent to own car?

A rent to own car loan is a type of car loan offered by rent to own car loan lenders in Australia, designed to enable people who do or may not qualify for a normal car loan through a bank, to get into a car sooner, using the rent to own car loan system.

Generally, if you have bad credit, a credit default, too many credit inquiries, missed loan payments, short term employment, no deposit, or some other form of credit issue, ie: ex bankrupt, then getting approved for a car loan through a bank, can be quite difficult. This is why a rent to own car loan was introduced.

Where do I buy the rent to own car from?

We allow you to buy the rent to own car from any registered car dealer in Australia. Once you have chosen your prefered rent to own car, we simply apply the rent to own car loan to the vehicle.

Get Pre Approved for a rent to own car loan

What is the rent to own car loan interest rate?

The rent to own car loan interest rates start at 7.95% p.a. Your rent to own car loan interest rate is determined by the car loan amount, car type, your credit report, your employment and residential history.

What is the rent to own car loan terms?

The rent to own car loan terms are between 1 -5 years, with repayments to be made either weekly, fortnightly or monthly. We make the loan terms and repayments to suit your own situation.

Do I need to be employed for a rent to own car loan?

No. You can receive centrelink benefits such as a pension, family assistance or a combination of both.

Can I still get a rent to own car loan with bad credit?

Yes. We will review your rent to own car loan application and determine what we can offer you. If you have more than 4 credit defaults, or pay day lender loan defaults unpaid, then it can be more difficult.

If I am an ex bankrupt, can I get a rent to own car?

Yes. So long as you have been good with your credit since being discharged from bankruptcy, we should be able to help you with a rent to own car loan.



Car Loans For Ex Bankrupt

If you are an ex bankrupt, meaning you were bankrupt at some stage and are now not bankrupt, then it is possible to get an ex bankrupt car loan

If you are a discharged bankrupt, you can still get a car loan. 

You need to be discharged for a minimum of just one day, and you can not have incurred a credit default since your bankruptcy, or after your bankruptcy, or you will not be approved in most cases.

Bad credit car loan lenders understand you may have had a one off event in your life, or a bad period, when you had to unfortunately go bankrupt.

All is not lost, you still have the opportunity to get car loan, however you need to make sure that you can present your car loan application in the best light.

We need to see that you have been a good borrower since the bankruptcy, or at very least can show that you have stable employment (income) and you have a stable living situation.

It is great if you can pay a deposit, however this is not always a necessity. 

A lot of our car loan approvals are for people who have been bankrupt previously, so feel free to apply with us for a bad credit car loan, or a discharged bankrupt car loan. 

Loan Against My Car?

Can you get a loan against your car?

Yes. If you own a car and require a personal loan, using your current car as security for the new loan, it is possible, in fact, we offer this type of loan against your car at 1800 Bad Credit.

So, do you require a loan against your car?

We enable you to borrow anywhere between $4000 and $20,000 against you current car over a loan term of between 1 and 4 years.

Unlike say pawning your car, you can actually keep and continue to drive your car, we do not need to hold it as security at all.


  • Borrow a minimum of $4000 - $20,000

  • The car must be valued at least $6000.

  • You must be employed and earn at least $750 week (after tax), this can also include family benefits.

  • You must have only 2 past credit defaults, or less.

Your new loan can be for any purpose, a holiday, to buy furniture, pay off debts, refinance your current car loan, or any other worthwhile purpose.

** Note: You MUST be employed and able to make payments on your loan against your car, just like a normal personal loan.

Try to get a loan against your car at 1800BadCredit

Bad Credit Car Loan Applications

Bad Credit Car Loan Application - Australia Wide

1800 BAD CREDIT Australia approves car loans for good people with bad credit in Melbourne, Sydney, Brisbane, Adelaide, Perth, Tasmania, Canberra, Darwin and most country and non metropolitan areas. If you have a credit default or bad credit, apply for a bad credit car loan in 60 Seconds.

  • Bad Credit Car Loans Australia Wide From 7.99% (Comparison Rate 8.99%p.a)

  • Bad Credit Car Loans From $5000 - $85,000

  • Bad Credit Car Finance YES

  • Bad Credit Car Lease YES

  • No Deposit Car Loans YES

  • Second Chance Car Loans YES

  • Ex Bankrupt Car Loans YES

  • Ex Part 9 Debt Agreement YES

  • Paid Or Unpaid Credit Defaults YES

  • Must Be Employed Full Time 6 months or casual 12 months minimum



What is a Second Chance Car Loan?

What is a Second Chance Car Loan?

A second chance car loan is when the car loan lender decides even though you have had bad credit or credit issues in the past, they are looking to forgive you for that and will offer you a second chance car loan.

If you do have bad credit due to a past car loan itself, then your chances of a positive car loan approval are minimal. Car loan lenders really do not like to when you have been previously bad with a car loan, they simply do not wish to entertain taking the risk again the second time with you.

Think about it a little further, if you were a car loan lender, and you had a customer who never paid their previous car loan on time and defaulted or the car was repossessed, would you really want to be lending that person money for a car loan?

It is a tough situation, however, we still may be able to help you get a second chance car loan.

You really do need to show us what you have done since your credit defaults or credit issues to improve your overall situation, whether that be you have paid them off, or are under a repayment arrangement, more secure in your employment, whatever you can show to improve your overall position is important.

Again, if you can put in some form of deposit, this always helps to get your car loan approved.

Bad Credit Car Loan Interest Rates

Bad credit car loan interest rates range anywhere from 7.99% p.a to 29.99% p.a.

A range of factors are taken into account by the car loan lender when deciding on the car loan interest rates they will offer you as a client. You must understand, from the car loan lender's viewpoint, it is rate for risk, so the bigger the credit risk they see your car loan application profile, the higher the car loan interest rate may be.

Although a lot of clients get turned off straight away when they hear what kind of car loan interest rates they may receive as a sub-prime or bad credit car loan client, unfortunately you have to start somewhere, and there are not too many car loan options available for a bad credit car loan borrower. The good part is, by taking a bad credit car loan at a higher interest rate today, you may be approved for a lower rate car loan in the coming years, once you have proven that you have a good repayment history on your current car loan, or any other loan for that matter.

Once you have been given this second chance car loan, and you are able to conduct your loan history perfectly, your next car loan will be at a lower car loan interest rate. You have proven yourself to car loan lenders that you are in fact a good car loan client. You will definitely have a wider range of car loan options open to you, allowing you to receive a more competitive car loan interest rate.

Apply For A Bad Credit Car Loan


1800 Bad Credit provides car loans to good people who may have past or current credit defaults or credit issues!

1800 Bad Credit provides car loans to good people who may have past or current credit defaults or credit issues!

Just Found Out I Have A Bad Credit History

When you find out you have a credit issue on your credit file, it can be a little bit overwhelming

Even more so if you really don't know how it got there, or what the credit default is all about.

We do see from time to time mistakes on credit files, and sometime we even see someone with a similar name to yourself, end up with their credit default on your credit file.

Our advice is to always go to first and speak with them about the issue.

Here is some further information about Veda and credit reports:

What is a credit report?

Understanding your credit report enables you to make more informed decisions regarding your finances. Utilising the services of Veda, Australia's number one credit information provider for consumers, your report is also a tool credit providers use to help them ascertain your financial reliability.


A credit report includes information about you such as your full name, date of birth, driver's licence, gender and residential addresses and employer information. A credit report has 3 distinct sections. These are:


1. Consumer credit information which may include:

  • credit applications made in the past five years relating to loans for household, personal or family purposes as well as for the purchase, renovation or re-financing of a residential investment property.

  • details of overdue consumer credit accounts

From 12 March 2014 additional “positive” information can be included in credit reports, including:

  • Type of credit account such as a credit card or personal loan

  • Account open date and close dates

  • Credit limit. This is the maximum amount of credit available to you for an account. If you accept a credit limit increase the new credit limit could be included on your credit history.

  • Monthly repayment history on credit accounts such as mortgages and credit cards. This will reflect whether you paid the minimum amount required on your financial commitments each month on time or not.

Please note it will take time for the new data to build up and we anticipate collecting this information over the coming months from credit providers. This means that this new data will not be reflected in your credit report immediately.


In addition, for the purposes of consumer credit reporting only, the following publicly available information is consumer credit information:

  • court judgements and court writs

  • directorship details

  • proprietorship details

  • bankruptcy, debt agreement and personal insolvency information.

Overdue Accounts

  • Overdue Accounts may be reported as a "payment default", serious credit infringement or a "clearout".

Payment defaults

  • A consumer credit payment default is an account of $150 or more that is 60 days or more overdue. For example, if you have a telephone bill of over $150, and it was due more than 60 days ago, it could be listed on your credit report as a payment default. In the case of commercial credit the minimum amount for a default is $100.

  • Before listing a consumer default, the credit provider has sent a written notice seeking payment of the overdue debt and a written notice stating that the default may be listed with a credit reporting body. Potential credit providers may look unfavourably on applicants with a history of overdue accounts, so it's a good idea to avoid defaults getting onto your credit report. To do this, you need to ensure you pay your bills before they become overdue.

    If an overdue account is listed on your credit report, the credit provider is required by law to update the listing, as soon as practical, once you've paid the overdue amount.

    A payment default stays on your credit report for five years, even when you have paid the overdue amount. The fact that an account has become overdue and then been paid becomes part of your credit history.

Serious Credit Infringements (Clearouts)

  • A clearout is also sometimes called a "confirmed missing debtor". It means that, at the time of listing the person who owes the money could not be located despite attempts to contact them.

  • Before you can be listed as a clearout, the credit provider must first reported the debt as a default, have made attempts to contact you and must have had no contact in the preceding 6 months.

  • Clearouts remain on your report for seven years from the date they're listed, unless it has been paid and then it will revert to a default and remain on your report for five years.

  • The fact that an account has become overdue and then been paid becomes part of your credit history.

2. Commercial credit information may include:

  • credit enquiries pertaining to applications for credit for commercial purposes

  • details of overdue commercial credit accounts

3. Public record information

When you get a copy of your credit report this information will form part of consumer credit part of your report.

What is a VedaScore?

Your VedaScore is an important number that summarises the information in your Credit Report and is expressed as a number between 0 and 1200. Your VedaScore can help you understand how the contents of your credit report affect your credit rating. In simple terms, the higher your VedaScore, the better your credit profile and the more likely you are to be accepted for credit.

As your VedaScore shows where you sit in relation to other credit-active Australians in our credit-reporting database, it may be used by lenders as part of their credit assessment process. If you’ve got a low VedaScore, your credit applications may only be approved by lenders that charge a much higher interest rate or you may have difficulty gaining access to credit at all.

What could influence my VedaScore?

When you receive your VedaScore as part of a Veda Credit & Identity package, you’ll also receive a list of score contributing factors – things that have influenced your VedaScore. This can give some insight into what you’re doing well and what areas might need some work, so you can improve your VedaScore over time.

How is my VedaScore calculated?

Your VedaScore is calculated based on the information held in your credit report at a given point in time. Your VedaScore is dynamic and predicts the likelihood of an adverse event, like a default, being recorded on a credit report within the next 12 months. Your VedaScore shows where you sit in relation to other credit-active Australians in our credit-reporting database. This may be used by lenders as part of the credit assessment process; however, lenders will also use their own criteria and policies when assessing your application not only your VedaScore.

There are a number of key contributing factors that are taken into consideration when generating your VedaScore:

Type of credit provider
The type of credit provider making an enquiry on your credit report may impact your VedaScore. E.g. there may be different levels of risk associated with approaching a bank, store finance provider, hire-purchase and utility company for credit.
What’s more, research shows that there’s a different level of risk associated with lenders in particular industries. E.g. a non-traditional lender may have a different level of risk than a bank or credit union.

The type and size of credit requested in your application
Both the type of credit and size of the loan or credit limit you have applied for in the past can have an impact on your VedaScore. E.g. mortgages, credit cards, personal loans and store finance may carry different levels of risk.

Number of credit enquiries and shopping patterns
Every time you apply for credit and a credit provider obtains a copy of your report, an enquiry is added to your credit file. This can include any loan, mortgage or utilities applications you may make.
Shopping around for credit and applying to a number of different credit providers within a short space of time may negatively impact your VedaScore. It flags you as a greater risk than infrequent applications for credit with a few credit providers.

Directorship and proprietorship information
Directorship and proprietorship information on a credit report may impact your VedaScore. If you’re a director or a proprietor it’s important to check the individual and commercial sections of your credit report.

Age of credit file
The date your credit report was created may impact your VedaScore. E.g. a relatively new file may indicate a different level of risk than an older file.

Pattern of credit enquiries over time
The spread of activity over the credit report’s life to date can have an impact on your VedaScore. E.g. a relatively new credit report with many enquiries may represent a different level of risk than an older report with only a few credit enquiries.

Personal details
Your VedaScore takes into consideration personal details such as age, length of employment and length of time at your current residential address to assess risk.

Default information
Default information in your credit report such as overdue debts, serious credit infringements or clearouts may negatively impact your VedaScore, while a lack of default information in your report may positively affect your score.

Court writs and default judgements
A court writ or default judgement on a credit report is an indicator of increased risk and may negatively impact your VedaScore. Conversely, a lack of court writ or default judgement information would indicate a reduced level of risk.

Commercial address information
Information such as location and the length of time you have resided at your current business address is a measure of stability and may impact your VedaScore.


Debt Consolidation Loans

At 1800 BAD CREDIT, we know your debts, credit defaults and/or bills can get out of hand

Sometimes you need help to get your finances back on track, but where to start?

We provide you with a simple debt consolidation loan and or informal debt agreement with your current creditors/ defaults..

This allows you to make a weekly, fortnightly or monthly repayment amount you are comfortable with, that you can pay towards your current debts, creditors, defaults and outstanding bills.

Let us help you get back on track with your finances. Let us provide you with the opportunity to see the light at the end of the tunnel. Let us stop the nasty phone calls, nasty letters and debt collectors.

Freecall 1800223273

Refinance Home Loan With Bad Credit Issues

When you have bad credit issues, such as mortgage or home loan arrears, credit defaults, creditor bills, late bills, debt collectors on your back, outstanding credit cards, personal loans, kids school fees, or any other outstanding debts, sometimes it can be worthwhile refinancing your home to pay out these debts, thereby a) lowering your overall repayment amount per month b) getting those debt collectors off your back and c) Having a nice night's sleep without the ongoing worry of trying to keep afloat, while trying to juggle all the debts to be paid, and when to pay them.

One way to keep track of the debts is to set up automatic payments from your savings account, this can work quite well and most online net banking facilities now allow this.

Sometimes,  the fact you can have just one home loan repayment to worry about,, and no other outstanding debts, can make life a lot easier, and your finances easier to manage.

These days, some lenders will even set up a direct debit with your payroll, and this will mean you don't even have to worry about not having the money ready to make the home loan payment, as it is simply taken from your pay or wages first, what a decent idea that is. This stops you ever missing a repayment on your home loan, and gives the lender more comfort knowing they will receive payment prior to you receiving your pay.

So if you have unlimited debts, or even just a couple of annoying unpaid bills , and are struggling with dealing with it all, , it is worth considering a refinance if it means a nice sleep for you and your family.  




Getting A Home Loan With A Credit Default

There are a lot of customers who come to us who may have a past or current credit default, and have been recently knocked back by their local bank.  

Having a credit default or credit issues does not mean you can't get a bad credit home loan or a home loan with a default.

We have home loan options available to you if you have a credit default.

Although you may pay a slightly higher interest rate for a bad credit home loan, if you can hang in there and pay the higher rate for say 12-24 months, then you may be able to slip back into a normal bank home loan rate, once your credit default has been either paid in full or drops off your credit file.

Having a credit default will not necessarily stop you from getting a home loan with a default loan. Even though you may have a credit default, many options are still available for a home loan, whether it be a refinance home loan or a purchase home loan.

Many clients come to us that have a current mortgage, and have a credit default, or two or three, and believe us it does not restrict you from getting a bad credit home loan, even with a past or current credit default.

Free free to contact 1800223273 us to see what we can offer you if you happen to have a credit default and are looking to get a home loan refinance or simply to purchase a home.

Just remember, the larger the deposit you have, the easier it will be to get your home loan with a credit default approved.

Apply For A Home Loan With A Default

What is a Bad Credit Car Loan Broker?

What is a Bad Credit Car Loan Broker?

A bad credit car loan broker will guide you through the car loan process from completing your car loan application, right through to final car loan approval, and into your new car or used car.

Bad credit car loan brokers are trained in all facets of car loans and will make the whole car loan process easier than trying to attempt to do it yourself.

Bad credit car loan brokers normally charge no fees as they are paid a direct commission from the lender they have introduced you to, to write your car loan.

It makes sense to use the skills of a trained car loan professional, just as it makes sense to use a registered car mechanic to tune or service your car.

Freecall 1800223273

Banks and Bad Credit Files

It’s amazing how banks can place you in the category of "bad credit" even with the smallest of credit blemishes. A small unpaid telecommunication default and your red flagged like a bull to his master.

We come across those people everyday at 1800 bad Credit, it is truly criminal; that these people are treated differently for a one-off mishap that in some case are not even the fault of the client.

Is a $200 unpaid telecommunication going to stop the client who has a good job, stable income and an overall good profile going to be the one who misses his car loan repayment and becomes what they call a bad debt?

Crazy as it sounds, banks think this way, thank god for 1800BADCREDIT then hey?




Home Loan Refinance With Debt Consolidation

It is often an idea to at very least entertain the thought to refinance your home and use the equity in your home to pay out other debts, that may carry a much higher interest rates than your home loan refinance rate.

The first port of call is to work out if there is any real benefit in consolidating those debts into the mortgage to begin with. You need to work out what are the benefits to you?

You will need to have enough equity in the home available to pay out the other debts, otherwise you may have to resort to the fact you can only fit in some of your outstanding debts.

How much equity do you need to refinance?

Obviously you need to have enough equity to not only consolidate your debts, but also to keep within the parameters the lender set as the maximum LVR (loan to value ratio) they are willing to lend to, based on your current home valuation

You also need to be able to show that you can afford the higher new home loan repayments, with the extra debt included.

Refinance with bad credit debts

If you have bad credit, there will be a restriction on how much you can borrow, based on your home loan valuation. Some non bank or non conforming lenders will allow you to consolidate debts up to 90% LVR, so long as any bad credit or defaults you currently have are not too large.

If you go over 80% LVR, there is usually mortgage insurance required, which will be an extra cost, and may make the whole process of refinancing an unrealistic proposition, when you way up the benefits against the costs to refinance.

There are a few non bank or non conforming lenders that will not charge you mortgage insurance, and will instead just charge you a fee, sometimes known as a risk fee, which can be capitalised into the home loan too.

This can be a very viable option as sometimes it can be tough to get the mortgage insurer to approve your loan if you have some bad credit or credit issues.

What will lenders agree to consolidate into a home loan?

Home loan lenders will pretty much allow most of your current debts to be consolidated, so long as you have proof of the debt.

If you have a sports bet account that you want to be consolidated, you may have some issues getting that approved, as lender are not too happy with gambling debts, however any normal type of debt such as a car loan, personal loan, business loan or credit cards are generally allowed and looked upon favourably by the home loan refinance lender.

You will be asked to provide statements on each debt to be refinanced, and the lender will be looking to make sure you have good conduct on the debts, ie: kept up with the repayments.

If not, it does not mean you will be declined, but you may be penalised with a higher interest rate due to the fact you have been a little hasty or slow in making repayments on your current debts.

So long as the lender can see that you are refinancing to enable an overall lower repayment across all debts, even if a higher interest rate on your home loan will be the end result, then you should be fine to refinance.

There are so many home loan refinance options available, with or without bad credit, sometimes your best bet is to speak with your current lender, and if you can refinance, consolidate your larger and higher interest debt, into a suitable home loan refinance, and you will end up with a lower repayment schedule overall, then it is definitely worth considering a refinance of your home loan.

If you would like to know more about a home loan refinance with debt consolidation, or any other questions about a home loan refinance or bad credit in general, please feel free to contact 1800BADCREDIT on 1800 223 273


Bad Credit Car Loan Interest Rates

Bad credit car loan interest rates range anywhere from 7.99 % to 30%.

A range of factors are taken into account by the lender when deciding on the rate they will offer a client. You must understand form the lender’s viewpoint its rate for risk, so the bigger risk they see your profile as the higher the rate.

Although a lot of clients get turned off straight away when they hear what kind of interest rates they may get as a sub-prime client, unfortunately you have to start from somewhere again and there aren’t too many options and this is a way to move forward to improve your credit worthiness.

Once you have been given this other chance and you are able to conduct your loan history perfectly, the next loan you would be able to achieve would be much better as you have proven yourself and most lenders don’t want to be the first lender that takes on the risk to see if you could prove yourself again, but once they can see that you have redeemed yourself, then a wider range of options are open to you, allowing you to get competitive interest rates again.

Bad Credit Car Finance

When a customer has bad credit, it can be quite difficult to obtain suitable car finance.

The major banks do not provide car loans or car finance if you have a past or current credit defaults, as they may see this type of customer as quite a credit loan risk.

This is understandable given a person who has  perhaps defaulted on a loan facility previously, may very well do so again. My thoughts are that everyone does deserve at least a second chance to secure a car loan.