How Much Can I Borrow With A Bad Credit Car Loan?

If you’re looking for a car loan, you might be wondering how much you will be able to borrow. Generally, how much you will be able to borrow in your loan may depend on your lender, your credit history, and your current income.

Lenders will want to make sure that your income can cover the repayments, and could be more likely to let you borrow a higher amount if you don’t have any defaults or notes on your credit file. You might find that using a broker will be helpful when you are looking for a bad credit car loan, as a good quality broker will be able to find you a range of loans for the best value.

Read on below to find out more.

How much can I borrow with a bad credit car loan?

How much you can borrow with a bad credit car loan depends on your lender and the type of loan that you’re approved for. Different lenders will have different types of loans, and this means different lending amounts.

The amount that your lender will let you borrow may depend on what your current credit score is, and what your credit history is like. If you have many defaults listed on your file, your lender might decide to let you borrow less than they would without those defaults.

You might find that discussing how much you can borrow with your lender before deciding on a loan is helpful.

What should I know about a bad credit car loan?

Bad credit loans are designed for people who have struggled financially in the past. Intended to help people with bad credit, anyone who has any type of bad credit can generally apply for a bad credit loan. Bad credit loans differ from standard loans in that they are targeted to help those who have experienced bad credit or bankruptcy. Those who have experienced these financial troubles can often find it difficult to be approved for a loan and may find a bad credit loan helpful.

How can I find a good car loan?

If you’re looking for a good quality car loan, you might find it best to go through a broker. A broker will be able to compare loans for you and find the best fit for your situation. A good broker will also be able to walk you through the application process and give you advice on what exactly your lender will need you to provide.

Generally, brokers have partnered lenders. This means that you will be getting a range of loan options from different lenders, compared to traditional lenders who will only recommend their product to you. When looking for a car loan, it can be good to have a range of loan options instead of just one. A broker will be able to help you to find the best loan possible. A quality broker will know what lenders will be looking for, and will be able to help you get approved quickly. Choosing the right broker to work with could save you both time and money in the long run.

Where does Tiger Finance come in?

We have helped countless Australians with both good and bad credit ratings to be funded for their dream car. The lending criteria from other lenders can be far too strict when you have bad credit.

With Tiger Finance, we can help to get you a loan in four easy steps. You will have a free consultation with one of our specialists, and we will tailor-make you a loan. We will negotiate with lenders on your behalf before you are approved. You won’t find an easier way to get approved for a bad credit car loan.

How we can help

Tiger Finance is here to help you to get your dream car regardless of your credit score. We can make the process simple and pain-free. With our quick application process, we can have you approved on the same day that you apply if you’re able to meet our criteria. Our loan specialists will make the entire process stress-free.

If you’re ready to drive away in your new car, call us today for your free initial consultation with one of our loan specialists.