Question 1

How do I apply for a loan with C1 Car Loans?

Accepted Answer

It couldn't be any easier to get started with us and hop into your new set of wheels in no time. Just simply fill in and submit our application form in less than 10 minutes. Our application is 100% online and will only ask a few questions and request some documents from you. Our team will then assess your borrowing power and provide you with a pre-approval to help kickstart your search. Once you've found your car, we will handle the rest, leaving you to drive away with peace of mind.

Question 2

What do I need to apply?

Accepted Answer

We're all about making the process of buying a car easier. That's why we've made our application form as hassle-free as possible. So, there's no need for mountains of paperwork to apply with us. There's just a few things we'll need from you, including: Personal info (i.e. name, address, D.O.B), Contact details (i.e. phone number and email address), 100 points of ID (e.g. driver's licence), Minimum 90-days of bank statements showing regular income or benefits.

Question 3

Am I eligible?

Accepted Answer

To be eligible to apply for a loan with C1 Car Loans, there are just a few things that need to be ticked off: Be 18 years of age or older, An Australian citizen or accepted Visa holder, Receiving a regular income, Have Internet banking set up. Please note, other residency statuses are case-by-case and require an Australian licence.

Question 4

Can I apply if I have bad credit?

Accepted Answer

Yes, you can! In fact, we happen to specialise in lending to clients with bad credit. This means we don't look at your credit score number as the be-all, end-all. Instead, we prefer to get a better picture of your finances by looking at other factors. As long as you have no finance defaults in the last 6 months or are currently bankrupt, we'll give you a fair go and take a look at your application.

Question 5

If I am self-employed, can I still apply?

Accepted Answer

We do not provide business loans or commercial loans, but do provide loans to self-employed clients for consumer purposes. We need 12 months of trading history at a minimum, at least 1 completed tax return for the previous financial year, minimum 90 days of banking for the business accounts Bas statements (if applicable) and ATO/ICA report if applicable.

Question 6

Can I get a loan if I am a discharged or double bankrupt?

Accepted Answer

If you are a discharged bankrupt, you only have to wait one day after being discharged before you can apply with us. However, please note that the maximum amount we can lend to you is $20,000. If you are a double bankrupt, unfortunately we are unable to help you.

Question 7

If I'm in a Part IX (9) debt agreement, can I still apply?

Accepted Answer

You can apply if your Part IX (9) debt agreement has been in place for at least 6 months with demonstratable repayment history for the most recent 3 months. We do not accept terminated Part IX applicants.

Question 8

Can I get a loan with Centrelink-only income?

Accepted Answer

Unfortunately, we do not accept applicants with a Centrelink-only income.

Question 9

I am receiving my income from the Department of Veteran Affairs (DVA). Can I apply?

Accepted Answer

Yes, we are able to process applications for those who are receiving DVA income.

Question 10

Can I apply if I have a learner's licence?

Accepted Answer

If you have a learner's licence, you need to be due to transfer to your provisional licence prior to settlement or have a joint applicant who has an open licence.

Question 11

Do you service boarders or people renting privately?

Accepted Answer

We can accept applicants from boarders but we will need to speak to your landlord to verify the residential information you have provided us.

Question 12

Do we service rural and remote locations?

Accepted Answer

Australia is a BIG place. While you might be living outside our 'normal' lending boundaries, this doesn't automatically exclude you from obtaining a loan with us. However, there might be some restrictions. Before submitting an application, we recommend giving our friendly and helpful staff a call to check.

Question 13

If I'm from New Zealand, can I still apply?

Accepted Answer

We can assess you for a loan as long as you have at least 12 months of credit history in Australia and at least 90 days of bank statements in Australia.

Question 14

Do I need to be living in a fixed location to apply?

Accepted Answer

Unfortunately, we are unable to offer you a loan if you aren't currently living in a fixed location, such as a caravan park.

Question 15

Can I get a loan if I am in financial hardship?

Accepted Answer

If we find that you are experiencing signs of financial hardship during the course of our assessment process, we will not be able to lend to you. If you are currently experiencing financial hardship, there are free resources available to help you, including the National Debt Helpline on 1800 007 007.

Question 16

How much can I borrow, and for how long?

Accepted Answer

Here at C1, we offer quick and easy car loans from $10,000 to up $35,000 with loan terms up to 5 years. After you submit an application with us, our team will do an assessment to ensure the loan amount is right for your financial situation.

Question 17

How long does it take to get approved?

Accepted Answer

We use smart technology and aim to give you a free quote in usually less than 24 working day hours from having received a completed application. However, if additional questions or documentation need to be obtained it could take a little longer. If you are approved and accept your loan with us, we can provide a fast turnaround and offer same day settlements once the vehicle has been found.

Question 18

Will you check my credit score?

Accepted Answer

Yes, but we will usually check with you before doing so. C1 Car Loans understands that most of its clients are trying to rebuild their credit rating and this is why we won't do a credit check until we are confident we can lend to you.

Question 19

What is a bad credit car loan?

Accepted Answer

A bad credit car loan is designed for people who have a poor or bad credit history and need financing to buy a car. Typically, borrowers with bad credit can find it difficult to be approved for a car loan from traditional lenders, such as banks or credit unions.

Question 20

How do I know if I have bad credit?

Accepted Answer

Whether you've been rejected by other lenders or you're not sure what your credit score is looking like, it can be handy to check your credit report. You can request a free copy (once every 3 months) from one of three credit bureaus in Australia: Equifax, Experian, or Illion.

Question 21

Can I get finance pre-approval?

Accepted Answer

Absolutely! We can provide you with a free quote in usually less than 24 working day hours so you can understand your borrowing power and help take the stress out of buying your new car.

Question 22

Do I need to put down a deposit for a bad credit car loan?

Accepted Answer

We don't require you to put down a deposit if you're approved for a bad credit car loan. However, if you want to offer a deposit, this might allow you to buy a car with a higher amount.

Question 23

What happens after I'm approved?

Accepted Answer

Congrats! Once you've been approved, we'll send through a loan contract for you to read and if happy with the terms and conditions, sign it and send it back to us. After this, the approved vehicle will be funded as soon as possible, and you can go pick up the car keys. The first repayment will come out from your next pay day after your loan is approved. You can then access and manage your active loan through our Client Portal.

Question 24

When will I own my car?

Accepted Answer

During the term of your loan, we will take security over your car. As soon as you have paid your loan out in full, the car is officially yours.

Question 25

What types of loans do you offer?

Accepted Answer

C1 Car Loans provides secured asset loans mostly to purchase a vehicle. However, we can look at other assets (such as motorcycles, caravans, and boats) but keep in mind that these must have another asset to secure the loan against. We also provide secured loans for debt consolidation.

Question 26

Can I buy a new or used car with your loan?

Accepted Answer

We can still process your application, regardless of whether it's a brand-new set of wheels or a pre-loved car that you're after.

Question 27

What are the fees and charges?

Accepted Answer

The fees and charges applicable to your loan will depend on a bunch of factors. Here at C1 Car Loans, we believe in transparency. We promise to always be open and transparent - what you see is what you get. No hidden fees, fine print, or agendas. It's completely free to apply with us and get us to help you find a great deal. If you do decide to go ahead with us, we will provide you with a credit guide that outlines all your fees and charges applicable to your loan.

Question 28

Do you offer debt consolidation loans?

Accepted Answer

Yes, we do offer debt consolidation loans with the security of an acceptable asset. The original debts must have originally been over $2,001 and not have been taken out or redrawn within the past 90 days. Please contact our team for further information and to see if you are eligible for a debt consolidation loan.

Question 29

Do you offer joint or guarantor loans?

Accepted Answer

We can facilitate a joint loan but we don't do guarantor loans. For a joint loan, each applicant will be assessed and, if approved, both are liable for the repayments and outstanding debt.

Question 30

Are you able to pay out balloon payments owing on my current vehicle?

Accepted Answer

Yes, we can help you with refinancing balloon payments for your current car loan/s.

Question 31

Are you able to pay out my novated lease?

Accepted Answer

We sure can! C1 Car Loans can assist with novated leases and taking ownership of your vehicle.

Question 32

How do I access my loan account?

Accepted Answer

To access and manage your existing loan with C1 Car Loans, all you need to do is head over to our Client Portal on our website and enter your login details.

Question 33

How do I pay off my loan?

Accepted Answer

It couldn't be easier to pay off your loan with us. We set up a direct debit for when your repayments are due so that you don't have to worry about setting reminders. Typically, we'll set up your direct debit on the day of your payday - whether that's weekly, fortnightly, or monthly.

Question 34

Can I pay off my loan early?

Accepted Answer

We do not charge any early termination fees at any point in your loan.

Question 35

If I think I'm not going to make my repayment, what should I do?

Accepted Answer

If you think you will have trouble making your repayments, please get in touch with our team as soon as possible. After all, we're here to help. Just call us on 1300 732 520 and we'll work with you to come up with a solution.

Frequently Asked Questions