Can I Get A Car Loan With Unpaid Defaults

It is surprising to see how many people actually have defaults noted on their credit files. It may be too easy for businesses to place defaults on your credit file without having to go through any process to warrant their decision, and this can really defame one’s character.

Unfortunately this attitude by many of the large telecommunication and utility companies can leave good people in unfortunate positions limiting their options at times for the deal they deserve when seeking out the right bad credit car loan deal.

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Most auto financing companies understand how easy some of these companies can place these credit defaults on people’s credit files and they also understand that they may have not communicated to the best they could prior to defaulting their customer.

Telecommunication Or Utility Defaults

It is still possible to obtain motor financing with unpaid defaults if they are telecommunication or utility company defaults. Some lenders may request that these are resolved prior to your car loan settling and other lenders may disregard these altogether and not require them to be paid.  If you have many of these types of defaults though, more questions will be asked as to why and may make things more challenging to obtain approval.

Other Financier or Lender Defaults

It is very hard to obtain car financing if you have outstanding defaults to another financier or lender unless you have a good explanation and documents to evidence that. Most motor financiers will want these resolved prior to lending you more money for a car, but some leniency may be given if the size of the default is quite small.

Outstanding Court Judgements/Writs

If these court judgements have been finalised and ordered in the courts for you to pay, dependent on who placed the judgement on your file and for how much will be dependent on whether you could still obtain a car loan approval without finalising your judgement or writ. Some supporting documentation may be required and if you are still appealing this in the courts with good reason may also be overlooked by some lenders.

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.