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It can be extremely disheartening to decide that you are ready to buy a car and get excited about it, only to have the bank decline your loan. Luckily there are other options out there, and these alternatives are known as ‘second chance loans’.

Here at iCREDIT, we have helped dozens of people with second chance car finance on the Gold Coast. We have a range of different lenders that are able to provide you with competitive loans in cases where the bank may have told you ‘no’. In this article, we will tell you a bit more about this type of loan and who are good candidates.

What Are Second Chance Loans?

Second chance loans are also known as ‘bad credit loans’. They are flexible, secured loans for loan applicants with bad credit or other difficulties. Second chance car loans are aimed at auto finance, but you can also get second chance loans for other types of finance.

Who Is A Good Candidate For A Second Chance Car Loan?

Anyone who has been turned down by the bank for a car loan is a good candidate for second chance loan options. In many cases, people who have just moved to Australia get turned down as they do not have a sufficient credit history. Some people also have a bad history with finance.

What Makes Second Chance Loans Different From Regular Loans?

If you are someone who has already been turned down by the bank, you can expect to go through a more intensive assessment process in order to find a lender that is happy to take the risk.

Can Anyone Get Second Chance Car Finance On The Gold Coast?

While here at iCREDIT we aim at helping a diverse range of people get a second chance at getting a car loan, there is no guarantee that anyone, no matter their financial situation, is able to get a second chance loan.

However if you are you looking for car finance on the Gold Coast our finance experts at ioCredit are here to help you find the ideal car finance option for your specific needs and budget. Get in touch with us today and we can begin discussing your car finance needs.

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