Credit Concierge Car Loans
Credit Concierge is a broker and can help you find hundreds of vehicle loans, including
- secured car loans
- personal loans (or unsecured car loans)
- caravan loans
- boat loans
- truck loans
- loans for commercial equipment.
The Queensland-based broker connects Australians to more than 30 banks, including the big four, and non-bank lenders of different sizes.
Customer support is offered over the phone, online and through the post.
The broker has car loans for personal and business customers.
Credit Concierge car loan repayment calculator
Total interest paid
Total amount to pay
Credit Concierge car loans pros and cons
- Can apply online
- No charge to the consumer
- Secured and unsecured car loans available
- Variable rate loans not available
- Cannot apply in branch
Features of a Credit Concierge car loan
Credit Concierge can help you find secured and unsecured car loans suitable for buyers looking for a new and used vehicles. This broker may not suit borrowers require face-to-face customer service.
You may be able to borrow the full value of the car you are buying and pay it off over a minimum loan term of 12 months and a maximum loan term of seven years.
Credit Concierge only finds you fixed rate loans, so it may not suit people looking for the flexibility of variable rate loans.
While there are no direct costs to use Credit Concierge as a consumer, make sure you know what fees the lender may charge you before committing to the loan.
Borrowers can choose to reduce their regular repayments by paying a one-off lump sum at the end of the loan. This is known as a ‘balloon payment’.
Credit Concierge car loans – customer service
Customers can contact Credit Concierge by phone, online enquiry, live chat, email or post. Its phone line is in operation from 8am to 6pm (AEST) on weekdays, and 9am to noon on Saturdays.
Who is eligible for a Credit Concierge car loan?
- Must be over the age of 18.
- Must be a permanent resident of Australia.
- There may be other minimum requirements, depending on the lender.
How to apply for a Credit Concierge car loan?
You can get an indicative quote from Credit Concierge and apply for a car loan with them through their website. Applications may take about five minutes on the phone or 10 minutes online.
To apply online:
- On the Credit Concierge website, fill out the quote estimator form and click ‘Get your free quote’.
- Review your estimated quote and repayments.
- Submit an application.
- In most cases, you should receive approval one hours after Credit Concierge has received any required documents.
Credit Concierge car loans review
Credit Concierge provides borrowers a range of car loans with different lenders. You may want to use Credit Concierge if you like having a broker help you out and to access loan options not always available on the open market.
Credit Concierge may suit everyday borrowers, self-employed borrowers, those on a learner’s licence and bad credit borrowers.
Customers may borrow the full amount of the vehicle value, with a maximum term of seven years.
It doesn’t cost the consumer to use Credit Concierge. However, the lender you are connected with may charge several fees, including an establishment fee and monthly fees, as well as potential other fees.
The interest rate you can get at Credit Concierge may vary and will depend on the lender, the customer’s financial situation and credit history. But its rates are relatively competitive on the market, especially if you have a good credit record.
It’s a good idea to compare interest rates, fees and features from several different lenders before deciding which car loan is the best one for you.
Today's top car loans products
Find popular car loans lenders from a wide range of Australian. View All >
Yes, you can get a car loan with bad credit, although you’ll probably find the process trickier and dearer than that experienced by people who have good credit histories.
You can find a number of lenders that specialise in bad credit car loans. However, make sure you compare bad credit car loans before you sign on the dotted line, because not all car loans are alike and having bad credit may mean you are more likely to be hit with higher fees and interest rates.
If you have bad credit, it’s important not to take out a car loan unless you can afford the repayments because a default could further damage your credit rating. Conversely, if you make all the repayments and repay the loan successfully, your credit rating might improve.
Being a student is tough enough, and while you might find the odd student discount on movies and technology, the same can’t be said about car loans, as you can’t really get a discounted student car loan.
Lenders make money on the interest and fees that they charge with loans, and the lowest interest and fees are given to the most reliable credit holders: people with excellent credit history.
As a student, you are unlikely to have enough on your credit report to warrant an excellent history. There are however, ways of getting a lower interest car loan if you can’t get an interest-free loan from the bank of mum and dad. One way of doing this may be through getting a guarantor car loan, which can get you a secured car loan by setting your parents up as guarantors.
You might be better off finding a specialist lender who will look at your credit history and income, who will decide whether or not you are able to responsibility pay back the loan. Alternatively, you could contact a car finance broker.
Lenders that provide bad credit car loans tend to be smaller challenger lenders rather than the bigger banks.
Bad credit car loans are a niche product. The bigger banks tend to focus on mainstream car loan finance for borrowers with better credit histories. That’s why smaller lenders tend to be the ones that provide bad credit car loans.
Bad credit car loans can have high interest rates and fees, so it’s important to compare options before submitting an application.
A bad credit car loan is a car loan for borrowers who have ‘bad credit’ or a bad credit history.
Some lenders refuse to offer bad credit car loans, because they believe there is an excessive risk that bad credit borrowers will not repay their loans. However, other lenders are willing to provide bad credit car loans.
Generally, these lenders charge higher interest rates for bad credit car loans than ‘prime’ car loans, reflecting the higher level of risk. Bad credit car loans may also have higher fees than prime car loans.
However, the big advantage of a bad credit car loan is that it allows borrowers with bad credit to access finance. Another advantage is that it could help bad credit borrowers improve their credit rating, assuming they make all their repayments on time.
Poor credit doesn’t necessarily mean you won’t be able to get finance for your car purchase, though your options aren’t likely to be the same as someone with good credit.
In fact, a number of specialist lenders exist offering car finance for customers with poor credit, able to provide access to bad credit car loans.
However having a history of poor credit will likely mark you as a potential risk to lenders, so your car financing needs could see higher fees and interest rates. Alternatively, consider a secured car loan, which is a type of loan that uses the car you purchase as collateral, reducing the risk.
Other options include getting someone close to act as a guarantor for your car loan, or to talk to a broker about a personalised rate specific to your circumstances.
Like all things, there are positives and negatives to guarantor car loans, though one may outweigh the other depending on your needs.
Guarantor car loan pros may include that you’re more likely to be approved for a long if you have no credit or a history with bad credit, that you’re more likely to secure a car loan with a lower interest rate, and that because your guarantor car loan is based on a relationship, you will be more inclined to meet your repayment schedule.
However, there are negatives, as well. Guarantor car loan cons may include leaving a detrimental mark on a personal relationship with added strain if you don’t meet your repayments, and you may take out a loan that you can’t actually afford.
Weighing these pros and cons will give you a greater understanding of whether a guarantor loan is ideal for your circumstances.
A guarantor on a car loan is a third party, usually a relative or friend, who guarantees to meet the repayments of a loan for the purchase of a car, if the borrower/owner of the car defaults on the loan.
Guarantor car loans can be useful for people who would otherwise struggle in being accepted for credit to purchase a vehicle. These may include people with bad credit, students and young people who may have no credit history, as well as some pensioners.
Many lenders offer guarantor car loans, guarantor personal loans and guarantor home loans, because of the significantly reduced risk to the lender.
You may be able to get a no credit check car loan in certain circumstances, although it’s important to weigh up your options before doing so.
Most lenders refuse to provide no credit check car loans, because they don’t want to give loans to borrowers without first confirming that they have a track record of repaying debts. So any lenders that do provide no credit check car loans would take measures to protect themselves against the risk of default.
That’s why no credit check car loans have higher interest rates than other car loans. Also, borrowers often have to provide security and put down a larger deposit.