#car loans for bad credit
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What are your best chances to guarantee an approval when you have had past bad credit?
The way your application is presented to the lender and when it is presented can give you the best opportunity of an approval. Many applicants will keep applying, hoping that someone will “give them a go”, but this can actually prolong the opportunity of obtaining an approval earlier.
Get Your Own Personal Finances In Order
You will need to make sure that your own personal finances are in order prior to applying as these will be reviewed in determining you have improved your situation. This will be reviewed through your personal bank accounts, so you must ensure not to miss any regular debits, or overdraw on your bank account which will result in a bank balance of less than zero.
If you can help it, try and stay with the same employer for as long as possible. If you are in a casual position or in a probationary period with your current employer, there may be some minimum time you would have had to be with that employer prior to applying.
The same reasons as to your employment stability being important, so is your residential history, so try and reside at the same place for as long as possible prior to applying. If you are renting through an agency, ensure you pay your rent on time, every time and this will definitely assist with your approval.
Other Loans Credit Cards
If you have any other outstanding debts, make sure you never miss a required payment on these and if you are able, making above the minimum will assist with your approval
Most importantly, the best way to guarantee approval is to get good, solid professional advice by someone who specialises in bad credit car loans. They will be able to guide you and give you the right steps in allowing guaranteed approval and if they are good at what they do, will not apply until the time is perfect to ensure you get the right outcome.
CarLoans.com.au can provide you a free car loan assessment, this assessment will determine what loan product suits your needs best as well as providing you with the interest repayments – click here to get a free assessment .