At Ume Loans we have over 15 years of experience helping customers with bad credit car loans who don’t fit the traditional banks criteria. We’ll guide you through every step of our approval process for your bad credit car finance, and help preserve your credit along the way, setting you up for success.

Explore Your Options Without Hurting Your Credit Score:

When looking at your application, we will only put an enquiry on your credit file after we have assessed all your documents and are confident, we are going to be able to approve you. This sets us apart from other lenders, who often conduct a credit check as soon as you apply. Since multiple inquiries can impact your credit score, it’s essential you preserve your score for your credit challenged auto loan.

If you’re unsure about what your score is and what’s on your credit file, you can check out Moneysmart’s article on ‘Credit Scores and Credit Reports’, to learn more about your credit file, and get a free copy of your report.

Get Ready to Apply: Key Information and Essential Documents:

We understand it can be confusing trying to figure out what is needed to apply for a bad credit car loan. Lenders can make this process complicated and frustrating through unnecessary back and forth. For us to accurately assess your application, there are some basic key documents we require which ensure a smooth process and get the best approval that matches your needs. Having these documents ready will help speed-up the outcome of your application:

Identification: This will be a selfie of you holding your valid driver’s license and Medicare card to verify your ID.
Payslips: Two most recent payslips will help in verifying your income and confirming how long you have been at your current job for.
Bank Statements: Submitting your 90-day bank statements through our secured link provides us with important information that we need to accurately and quickly assess your application and get you approved for the amount you need.

Submit Your Application and Upload Your Bank Statements

When you have your documents, you are ready to apply and move one step closer to securing your bad credit car finance. After you have submitted your application, you’ll receive an SMS and email from us containing our secured Illion link for bank statements. This will allow you to easily and safely upload your 90-day bank statements, so we can get your approval as soon as possible.

We have a helpful blog on using our Illion bank statements link, to assist in better understanding our bank statement process and how this helps protect you. You can call us 07 5443 3863 if you need assistance uploading your statements.

Your Trusted Lending Specialist, Always in Your Corner!

After your bank statements have been uploaded, you will have your own dedicated lending specialist assigned to you. Your lending specialist will call to complete the rest of the application over the phone and go over the next steps to secure your approval.

During this call, we take the time to understand your individual situation and needs, while gathering key details such as employment and residential history. We believe in asking the right questions to ensure we craft tailored solutions for your bad credit car loan. This is also a great opportunity for you to ask us any questions to gain clarity on the process ahead.

Behind the Scenes: How Your Application is Assessed

Once your application is complete, we’ll take care of the rest to secure your car loan approval, ensuring a seamless and stress-free experience. Your lending specialist will carefully review your application, bank statements, and other financial details such as income, expenses, and liabilities. Throughout this process we will keep you informed, promptly address any questions, and provide guidance at every stage. Our goal is to make financing your bad credit car loan straightforward, so you can focus on getting behind the wheel.

Congratulations! Your Approval is Here!

Great news! Once approved, your lending specialist will call and email you all the details around your approval. We will walk you through the next steps, answer any questions, and ensure you fully understand your approval. Rest assured, we will continue to support you from approval to settlement and assist you in gathering any extra documents needed, like a dealership tax invoice or private sale conditions.

Don’t Let Past Credit Challenges Hold You Back – Act Now!

Take the first step and apply today for a quick pre-approval to see how Ume Loans can help you drive away in the car of your dreams!

Don’t just take our word for it, hear from hundreds of our happy customer who’ve secured their second chance to get them back on the road!

About the Author

Tim Henderson

Tim comes to UME Loans with a wealth of experience across the Finance, Automotive Management and Sales sectors. Tim has a people first approach and strives for successful outcomes for both his team and the clients they assist on a daily basis.