How To Get A Car Loan With Bad Credit?
Getting a car loan with bad credit can feel like searching for the end of the rainbow. Between predatory rates and limited term lengths,...
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CAR LOANS
drive away TODAY
Great comparison rates
Zero fees, no penalties
Earn interest rate discounts
Secured loans of $4,000 - $75,000
Loan term of one to seven years
Same-day funding available*
*Review our terms and conditions to learn more
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how to apply
Once approved, you could have your funds
within 24 hours
Just 3 steps with our simple online application
step 3
we'll contact you
Once you submit online, we'll be in touch to proceed, keeping you updated as your application progresses
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car & vehicle loan detail
transparent and supportive lending
Secured loans of $4,000 - $75,000
Loan term of 1 - 7 years
No fees
No penalties for early loan repayment
Weekly, fortnightly, or monthly repayment options
Competitive interest rates from 20.50% to 39.00%
(APR 16.72% - 35.28%)
Same day funding
Earn discounts with our great offers below!
Module Discounts
Complete 12 quarterly financial education modules to receive up to 3.50% in interest rate discounts!
Please click here for more information on our Financial Wellbeing Modules
Salary Split Discount
Set up a worry-free repayment schedule via your payroll, and receive a whopping 2.00% off your loan!
Please click here for more information on Salary Split
Refer A Friend Offer
Receive $100 off your loan when you refer a friend and their loan is settled with us - with no limits on the number of referrals!
Please click here for more information on our Refer A Friend offer
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learn more about
vehicle loans
AND OTHER CAR FINANCE SOLUTIONS
Whether you’ve decided it’s finally time to upgrade your car or treat yourself to the car of your dreams, you’ll likely need some auto financing to get the deal over the line, like a car loan. A car loan works like a personal loan, except it can only be used to purchase a new or second-hand vehicle. Car loans come in all shapes and sizes and can be used to fund the purchase of several types of vehicles, from motorbike loans to purchasing second-hand vehicles with a used car loan or switching to a more competitive offer by car loan refinancing.
Salt & Lime is a specialist lender offering some of the best car loans on the market. We understand that owning a car is essential for your daily commute, family outings or exploring the open road. Whether you’re after a new or used car loan, our car loans provide you with the financial support you need to make your car ownership dreams a reality.
WHY APPLY FOR A
vehicle loan
with salt & lime
For several years, we’ve helped everyday Australians access funding by providing competitive car loan rates, regardless of their financial circumstances.
Affordable payments — Our car loans allow you to spread the car's cost over time. This makes purchasing a car more affordable by breaking down the total cost into manageable instalments rather than paying a large sum upfront. And with 81% of our clients ahead on their repayments, it’s safe to say you’re sure to find the right option for you.
Interest rate discounts — As a Salt & Lime car loan customer, you’ll be able to unlock interest rate discounts of up to 3.50% once you complete 12 of our quarterly financial education modules. Our modules are about improving your financial well-being, so you’re bound to pick up a new skill or two!
Zero fees — Yes, you read that right. Our quick car loans feature no upfront or ongoing fees, plus you won’t be penalised for making additional payments to your loan, giving you the freedom to pay back your loan as you see fit. For more information, please review our terms and conditions.
Flexible loan terms — We offer flexible loan terms tailored to suit your budget and preferences. Choose to make your repayments weekly, fortnightly or monthly and get your loan paid off in no time.
Immediate ownership — By accessing our range of instant car loans, you can take immediate ownership of the car while paying for it over time. This means you don't have to wait until you have saved enough money to make the purchase outright, allowing you to enjoy the benefits and convenience of owning a car sooner.
Improve credit history — Aside from offering some of the best car loan rates around, our auto loans could also help you positively change your credit score. Demonstrating responsible borrowing behaviour through consistent payments can boost your creditworthiness, which may benefit you when applying for other loans or credit.
competitive new and used car loan rates
for all australians
If there’s one thing we believe in here at Salt & Lime, it’s second chances. Every day, we hear stories of Australians being rejected from traditional banks, credit unions and private lenders due to their financial history. We see a better, more inclusive way of lending.
Whether you have a poor or limited credit history, you can feel confident applying for a car loan with Salt & Lime. We encourage applicants from all financial backgrounds and assess each application case by case, ensuring we provide a tailored solution. We also offer standard personal loans and debt consolidation loans, ensuring all applicants find the financing solution they need to achieve financial freedom.
With zero fees, flexible repayments, interest rate discounts and more on offer, there’s much to love about Salt & Lime’s new and used car finance solutions. If you want to learn more about our range of vehicle loans or car refinancing options, please contact us today.
car finance
credit information & faqs
Do you want a new car, but you're concerned about your credit history? Are you looking to hit the road but don't know how to move forward? A bad credit car loan from Salt & Lime may be the perfect solution.
We are dedicated to helping everyday Australians consolidate their debts and get the things they deserve. We understand the reality of financial stress, and we love helping our clients set up and make manageable repayments. With vehicle finance from Salt & Lime, you can get the ride of your dreams and look forward to a brighter future.
Car finance for everyday Australians with low credit scores
At Salt & Lime, we understand the benefits of a safe and reliable car. Whether you're travelling solo, navigating life as a couple or looking towards new horizons as a family, a car helps you to embrace new opportunities and move forward with confidence...
The Important Detail
Loan Amount: The Loan amount is subject to a minimum of $4,000 and a maximum of $75,000, secured by an owned vehicle.
Loan Term: The Loan term ranges from 1 to 7 years, as agreed upon by both parties.
Repayment Options: Repayments can be made on a weekly, fortnightly or monthly basis.
No Fees: No fees will be charged for the Loan, including for the establishment, settlement, or ongoing account keeping; and no penalties charged for early loan repayment.
Interest Rates: Interest rates range from 20.50% (APR 16.72%) to 39.00% (APR 35.28%). All rates displayed on this website are calculated on a per annum basis.
(1) APR: APR is the Annual Percentage Rate, or comparison rate, inclusive of fees and charges. Given there are no fees on Salt & Lime products, and borrowers may earn discounts to reduce interest rate over the life of the loan, the APR is lower than the advertised interest rate. To achieve a lower APR, customers will need to complete one or more of the 12 provided financial education modules, and/or register for Salary Split, where interest rate discounts are applicable. The advertised APR is calculated based on a secured loan amount of $10,000 over a term of 3 years, on a monthly repayment schedule, with all discounts applied as soon as they become available to borrowers. Example: A borrower with good credit borrowing $10,000 over a term of 3 years with monthly repayments, including an interest rate of 20.50% (APR 16.72%) would pay a monthly repayment of $377.72 and a total amount of $12,564.33. This example takes the full Salt & Lime product model into consideration, where no fees are applicable for the duration of the loan, assumes all financial education modules are completed on the day they are released to the borrower, and the Salary Split interest rate discount is applied on Day 0 (the day of loan settlement).
Interest Rate Discounts: Borrowers may earn interest rate discounts by completing financial education modules provided over the life of the loan.
(2) Same Day Funding: Same day funding can be achieved if all required documents are received on the same day as requested, received in a reasonable timeframe prior to close of business.
(3) Module Discounts: A total of 3.50% in interest rate discount can be achieved over the life of the loan for completing financial education modules, where all 12 financial education modules will need to be completed for the full discount to be applicable. The first module will attract 0.75% in interest rate discount, and each module thereafter (11) will attract a discount of 0.25% each. Please note that the interest rate discount will place a borrower in advance on their loan, and will not alter the current contractual repayment amount. Please note that loans originated prior to 15 December 2022 can only achieve a maximum of 2.75% in interest rates discounts over the life of the loan, as an additional first module (attracting 0.75% interest rate discount) was introduced on this date.
(4) Salary Split Discount: A 2.00% interest rate discount can be achieved if the borrower successfully arranges a Salary Split, where repayments are made directly to the lender via the borrower's payroll. Borrowers will receive supporting forms at settlement, and may also request these forms to be re-sent at any time. The borrower must provide confirmation that the direct debit has been established in order for the discount to be applicable. Please note that the interest rate discount will place a borrower in advance on their loan, and will not alter the current contractual repayment amount.
(5) Refer A Friend Offer: A $100 discount can be achieved on the remaining balance of a current borrower's loan when they refer a friend using their unique referral code. Once the new referred borrower's loan has settled and the referral code verified, the discount will be applied. A $100 discount will also then be applied to the new borrower's current loan balance. There are no limits to the number of new referrals that a current borrower can make. Please note that the $100 discount will place a borrower in advance on their loan, and will not alter the current contractual repayment amount.
Security: The Loan will be secured by a registered security interest over the borrower's vehicle, as specified in the loan agreement. Borrowers must maintain comprehensive insurance on the vehicle for the life of the Loan and provide evidence of insurance upon request.
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