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Business Car Loans For Bad Credit | Business Finance
Issues with creditors, poor payment history, high debt position and other negatives can seriously impair the ability of an enterprise to secure motor vehicle funding. With our expert services, extensive lender coverage and strong capabilities, we assist businesses in this situation to source possibilities and potentially workable outcomes.
Assisting operators to turn the impossible into possible. Securing funding to purchase vehicles which may be the essential tools of trade and vital to carrying on the activities of the enterprise. Operators in this position can benefit significantly from utilising our professional broker services to access the right lenders, negotiate on terms and conditions and structure a funding solution which will support their venture.
This won't affect your credit score
Rate Comparison - Find Your Best Option!
Compare Our Rates for Bad Credit Commercial Car Loans
Funding applications with poor score and rating are generally considered a high-risk by lenders. Typically resulting in a higher interest rate being offered. Each application is assessed on an individual basis. As a starting point for planning, our current rates can be used with allowances made for the situation. For a specific interest rate and quote based on individual circumstances and requirements, contact us.
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Disclaimer: The comparison rate displayed is calculated for a loan of $30,000 over 5 years. The results from this calculator should be used as an indication only. Quoted repayments are based on advertised rates and do not include lender fees and charges. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you speak with us so that we can provide you with advice that is tailored to your situation.
Today's best rate
Finance Equipment From
4.99 % Fixed
* The interest rate is calculated on a secured loan for commercial use, effective 19/02/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.
Today's best rate
Finance Equipment From
4.99 % Fixed
* The interest rate is calculated on a secured loan for commercial use, effective 19/02/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.
Customised Solutions - Accelerate Your Venture's Growth!
Custom Solutions for Commercial Bad Credit Car Finance
Using our broker services can be vital for operators in this position. We provide operators that have issues with creditors, poor payment history, previous bankruptcy, poor balance sheet position and possibly high debt levels with a highly personalised and individual service. Our highly skilled brokers are understanding, non-judgemental and committed to using all our resources to achieve a solution.
Each client is assigned one of our brokers that is experienced in sourcing vehicle funding for enterprises with issues in meeting the application criteria. The circumstances that have led to the current position and any actions which have been implemented to address the issues can be significant to our lenders. We listen to clients to obtain a full picture of their unique situation in order to decide which of our lenders will be best suited to making a workable vehicle financing offer.
Our brokers are extremely sharp negotiators, know financials and work with our lenders to arrive at the most suitable outcome for each client. Our work is thorough, detailed and includes the entire funding process on behalf of clients. Clients can be assured of our full attention, backed by our smart technology and over 20 years of experience in addressing their individual requirements. As an added assistance for clients in difficult situations, no referral is needed to access our services. Clients can connect with us quickly and easily as we are completely based in Australia.
- Thorough, detailed, customised approach to sourcing bad credit commercial car loans.
- 20+ years of experience across commercial lending sector.
- Australian based, services nationwide.
- Quick connect with no referral needed.
- All sized companies from sole traders through to large corporations.
- Member FBAA, Licensed Credit Provider.
Secure Access to Top Lenders
Get Access to Right Lenders for Bad Credit Commercial Car Loans
The crucial element for operators with issues with accounts, payments and balance sheet can be connecting with the right lenders. The vehicle lending sector is vast but not all lenders will approve funding for organisations and sole traders with issues around payment history.
We assist with our accreditations with more than 80 lenders. This includes lenders that we have experience with in sourcing affordable vehicle funding solutions for operators in this situation. We work with our lender contacts at an industry-level which enables our brokers to negotiate directly on behalf of clients to talk through issues and arrive at an outcome.
- Access to 80+ lenders
- Specialist non-bank lenders known to approve bad credit commercial car loans.
- Extensive lender market coverage, facilitating greater opportunities for poor credit applicants.
Diverse Range of Loans
Loan Types for Commercial Car Finance Bad Credit
When the application is approved, operators can select from the same vehicle funding products as for applicants that meet all the criteria. The full tax benefits associated with each product can be realised and the same structure applies. The products have varying features and are compatible with either the cash or accruals method of accounting.
Other variations include with the interest rate; the ownership of the vehicle over the term; the way GST is applied and claimed; and how the tax deductions are realised. We recommend applicants first refer to their accountant or financial advisor for guidance as to which product is suited to their set-up.
All types of vehicles, both new and second-hand, to be utilised in an enterprise, can be funded with these products. Cab chassis, commercial vans, utes, SUVs and passenger vehicles. Rates, terms and conditions can vary between new and used vehicle funding.
- Commercial Car Leasing Bad Credit
- Bad Credit Chattel Mortgage Vehicle Finance
- Bad Credit Commercial Hire Purchase for Commercial Cars
Anticipated Outcomes
Expectations for Commercial Car Loans Bad Credit
Due to the circumstances, applicants should expect special terms and conditions will be applied to any offer made. The trading time and size and scale of an operation may be taken into consideration along with the full history of the company and the circumstances. The personal financial position and history of the owner(s) of the operation may be assessed.
A higher interest rate should be expected. Extra security may be requested in addition to the vehicle being used as the main collateral. The security may take the form of property or other assets held by the organisation or the owners. A limit may apply to the total funding. Where no deposit funding is requested, this may involve a lower priced vehicle being acquired or the buyer paying a deposit to the dealer to reduce the funding amount.
Applying with Bad Credit Made Easy!
How to Apply for Commercial Car Loans with Bad Credit
While many challenges may be present, we make it easy to submit an application and request a quote. Applicants can call us directly or submit their details online for prompt personal attention and fast approval. Buyers can submit applications before purchase to have the confidence of exact financing.
FAQs
Commercial Car Financing with Bad Credit
Yes. When an application is approved with a poor score, operators may select Leasing as the funding product.
To be eligible for business credit, applicants much at a minimum hold an ABN. GST registration is not essential. Applicants will be requested to provide financials on the operation. These can include tax returns, annual accounts, balance sheets, bank statements, turnover figures and other documentation.
Applicants with a poor rating can expect a higher interest rate to the rates displayed by lenders. Each application is assessed individually and the rate is subject to the lender’s assessment of risk.
Yes. All sized operators may apply for funding even with a poor score and poor payment history. Approval is subject to lender decisions.
The terms and conditions offered to applicants with poor ratings and poor payment history are subject to lender approval. In general terms, up to 84 month terms may be approved.
It may be expected that applicants with poor payment history and score would be asked to provide additional security against funds approved.
Yes. Once approved and funding finalised, operators are entitled to realise the tax benefits pertaining to the product selected.
Applicants with poor scores and ratings can select from the same funding product options as those with a good score. These are Leasing, Chattel Mortgage and Commercial Hire Purchase.
Yes. Applications for vehicle funding may be submitted, assessed and approved with an offer prior to the purchase of the vehicle.
Yes. A balloon is an option included on Chattel Mortgage and Commercial Hire Purchase.
GST is treated differently with the different funding products. Leasing has GST applied to the payments and can be claimed on the applicable BAS. With Chattel Mortgage the GST on the vehicle purchase is claimed in full immediately after purchase and no GST is applied to repayments.
An online calculator is a generic device which calculates repayment estimates, ex fees and charges, based purely on the data entered. To use as a guide, applicants with poor credit may use a calculator and input an interest rate above the best rate displayed by the lender.
