Bad credit history loans Gold Coast are available
A bad credit history might make you apprehensive about applying for a loan, but there are bad credit history loans Gold Coast available. What does a “bad credit history” actually mean and what are some options that might suit you if you’re looking for a car loan?
What is a bad credit history?
Your credit history gives an idea of how you’ve managed your credit or loans in the past – whether you’ve made your repayments on time, how many concurrent loans you have taken out and how many applications for credit you’ve made. If you have a “bad” credit history, this usually shows that you have missed or delayed payments, have multiple loans or having had applications for loans rejected in the past.
Lenders will use this information to give them an idea of how you’re likely to behave if they loan you money. Naturally, they want to receive payments on time, so if you have a history of late payment, this can count against you.
However, it may still be in your best financial interests to take out another loan – and this means looking for bad credit history loans Gold Coast.
Can I still get a loan?
Your options may be different to if you had a squeaky clean credit history, but it is still possible to get approved. Often your credit history doesn’t give a real idea of your capacity to pay off your loan, so it’s not fair to base loan decisions purely on this.
Your current situation and what your credit score thinks your current situation is are two very different things – there are so many different factors at play in your finances and whether you have the capacity to pay off your loan.
Our professional brokers can work with you to find the best option for your specific situation. We don’t let your credit rating define you and can help you to compare the possibilities and choose what best suits you.
We have access to interest rates and loans that aren’t directly available to the public, giving you broader options when it comes to choosing the right option. And we get results – 9 out of 10 of our applicants with bad credit history are approved for their loans (were regulatory terms and conditions are met), so you have a great chance of getting sorted soon!