Rapid Finance Bad Credit Loans
With Rapid Finance, you can apply for a wide variety of loans even with bad credit. Costs will vary according to individual applications and the type of loan.
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GoRapid specialises in loans for customers with a bad credit history, and who are unable to get loans elsewhere. These loans include car loans, personal loans, bike loans, boat loans, equipment loans and more. While the cost will vary based on the applicant and the type of loan you apply for, loan terms are between 1 to 7 years. Repayments are flexible, allowing you to make weekly, fortnightly or monthly repayments. If you have security to offer, you may get better terms.
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Types of Rapid Finance loans
GoRapid provides a wide variety of bad credit loans. Depending on what you're looking to finance, you might want to consider applying for their:
- Bad Credit Car Loans. If you're looking for finance for a vehicle but have bad credit, you can apply for one of these loans. Enjoy a free finance assessment and loan options such as chattel mortgages novated leases, consumer car loans and commercial hire purchases.
- Bad Credit Home Loans. Home loans for those with bad credit can be accessed through Rapid Finance. First home buyer, refinance, investment and commercial are available.
- Bad Credit Personal Loans. Aren't looking to purchase an asset with your loan? Personal loans for bad credit applicants are also on offer. There are no penalties for extra repayments with these loans, helping you to save on interest if you're able to repay your loan early.
- Bad Credit Leisure Loans. Finance for bikes, boats, jet skis and caravans can be found under the tailored 'leisure loan' umbrella. As with most Rapid Finance loans, bad credit borrowers are considered.
- Bad Credit Equipment Loans. Applicants, including those with less-than-perfect credit, can apply for finance for trucks, 'yellow goods' and other equipment, which can help your business get the tools it needs to keep going.
The features you can expect when you borrow
- Bad credit considered. One of the biggest stumbling blocks in getting a loan is having a negative mark on your credit file. This can make it difficult to be approved for loans from a vast majority of lenders. However, Rapid Finance will look at your current financial circumstances while considering you for a loan, looking beyond any bad credit you might have run into.
- Wide variety of loans. They provide loans for different purposes, including to finance a boat or a vehicle, to buy a home, a caravan or even a bike. This essentially makes them a one stop shop for most bad credit financing requirements.
- Repayments. You'll have between one and seven years to repay your loan, and you'll be given a rate based on your application. You can make weekly, fortnightly or monthly repayments.
- Fee structure. The fees for loans is based on individual circumstances. This allows you to get loans for attractive terms if you can meet the requirements, such as if you have a property in your name or if you can provide any other security.
- Free assessment. The preliminary assessment is free of charge. A quote is provided after the assessment if it is found that financial assistance can be provided. The services up until this point are provided without any cost attached to them.
What you'll pay when you take out a loan
Fee and charges vary according to individual applications and the type of loan taken out. The initial assessment of the application is done free of charge. After a quote is provided, there might be certain fees charged depending on the loan. If a valuation of the secured property is required, the costs attached to it may be included in the fees.Back to top
How to apply for a loan from Rapid Finance
If you would like to apply for a loan, you can start filling the application form by clicking ‘Go To Site’ on this page. This will redirect you to an online application which needs to be filled. Keep in mind you need to be over the age of 18 to apply. Have the following details on hand to submit your application:
- Personal details. These include your name, date of birth, contact number and driver's licence number.
- Financial details. If you've been bankrupt or in a Part 9 Debt Agreement, you'll need to list your status. You also need to list any property you own outright or under a mortgage, as well as any defaults you have.
- Employment details. Your current work status, how long you've been at your current and previous job and your net pay after tax will need to be listed.
GoRapid can assist you in getting your dream car or finding the ideal loan if you have bad credit. They provide a quick and competitive service that can be very useful for customers looking for immediate financial assistance.Back to top
Frequently asked questions
I have been denied a loan by a couple of lenders. Will I be successful in getting a loan from Rapid Finance?
Every organisation has different credit criteria for various loans. Rapid Finance specialises in bad credit loans and instead of looking at prior results, they assess all applications on their individual merit. Whether or not you are approved will depend on your financial situation and your ability to meet your loan repayments.
Are there any charges for the services provided by Rapid Finance?
Rapid Finance provides their services free of charge until the point of providing a quote. The initial assessments for most of the loans do not require any cost or charges from the applicants. Only after a loan is accepted by you do the fees for that respective loan need to be paid.
What interest rate will apply to my loan?
Rapid Finance offers various rates. The actual interest rate that will apply to your loan will depend on your individual financial circumstances and the information you supply in your application.
Personal Loan OffersImportant Information*
You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate of 8.99% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
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