Bad Credit Loans NZ
Bad credit is a reality for a number of Kiwis and it can prevent them from borrowing money from traditional lenders such as the bank. Not being able to get a loan due to bad credit can be frustrating and stressful. However, just because you have less than perfect credit doesn’t mean that you shouldn’t be able to get a loan to pay for things you really need.
At Jacaranda Finance NZ, we understand that getting a loan with bad credit can at time be extremely difficult for Kiwis. That’s why we help them find lenders who offer bad credit loans NZ. You don’t have to run around searching for a loan anymore, instead, you can leave the hard work to us. We may be able to connect with a lender that can help you out.
One of our goals is to try to match New Zealanders looking for a bad credit loan with an appropriate lender. We understand that not everyone’s past is perfect, but things that happened in the past shouldn’t always impact on anyone’s future. The world of finance, loans and banks can be a very tricky place. That’s why we are here to assist and potentially point you in the right direction. At Jacaranda Finance NZ, we can find you a lender that’ll focus more on your current financial situation rather than your past mistakes.
Bad credit is categorised as bad when your credit score is poor. A credit score is calculated from credit history and anything more than 600 is great. If your credit score is anywhere between 400 and 600, it is considered average. However, anything below 400 is poor.
People with poor credit score may need bad credit loans as they might not qualify for other loans. Traditionally lenders don’t approve borrowers with bad credit as they’re riskier customers. However, at Jacaranda Finance NZ, we believe that everyone deserves a second chance. That’s why we partner with lenders who are more lenient and don’t judge customers based solely on their credit score. Our aim is to find you a lender who offers bad credit loans NZ. Your financial history might be examined by the lender, but they focus more on your current financial circumstances. They see the good in you, not just the bad.
Bad Credit Loans NZ Examples
Small Loans (Between $300 and $2,000)
The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.
Medium Loans (Between $2,100 and $4,900)
The Interest Rate for Secured Medium Loans is 48%. Maximum Comparison Rate is 67.41% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.
Large Loans (Between $5,000 and $10,000)
The Interest Rate for Secured Large Amount Loans is 21.24%. Maximum Comparison Rate is 48% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.
Bad Credit Loans Guaranteed Approval NZ
At Jacaranda Finance NZ, we can help you find bad credit loans in NZ. However, we can’t guarantee approval on the loans. We may connect you with a lender that offers bad credit loans NZ and they’ll assess your application. Aster being assessed, if you meet their criteria, you’ll likely be approved for the loan. The good thing about our lenders is that they won’t deny you just because you have bad credit. They’ll give you a fair go and look at your current finances rather than just considering your past financial history. So, you have a good chance to qualify if you’ve been responsible with finances and your current relationship with money is okay.
Bad Credit Car Loans NZ
Imagine you found a great deal on a car you wanted. You don’t have enough cash to pay for it out of pocket, but you know you can afford it if you could just borrow some money. You visit a bank for getting a loan, but they deny you because of your bad credit. Should you ignore that great deal just because the bank denied you a loan? Definitely not. Because at Jacaranda Finance NZ, we can find you a lender who offers bad credit car loans.
Bad credit isn’t the end of the world and you can still buy that car you’ve set your eyes on. Just fill our super simple application and we’ll try to find you a lender. Our lenders don’t offer bad credit car loans and we don’t guarantee approval. That’s because all our lenders follow responsible lending practices and they won’t approve you if you don’t meet their lending criteria. What our lenders do is offer a fair go. They won’t just look at your past financial history. Instead, they’ll be more interested in your current situation. This means you may be able to qualify for a bad credit car loan even with poor credit.
Bad Credit Secured Loans NZ
At Jacaranda Finance NZ, we can connect you with lenders who offer bad credit secured loans. Bad credit secured loans are those loans that require you to use an asset for securing the loan. An asset is used as collateral for the loan. If you default on the loan, the lender can seize your asset and sell it to recover payments.
Bad Credit Unsecured Loans NZ
Unsecured bad credit loans NZ aren’t tied to any of your assets. So, you won’t have to worry about using an asset to secure the loan. At Jacaranda Finance, we can connect you with lenders who offer unsecured personal loans bad credit NZ. These lenders don’t have stringent qualification requirements and they won’t deny you based solely on your past financial history. Instead of examining your credit under a microscope, they’ll focus on your current financial situation.
Our lenders don’t offer bad credit unsecured loans guaranteed approval NZ. So, we can’t promise that you’ll get approved for a loan. But, your probability of getting approved is high if your current relationship with finances is okay.
Bad Credit Loans No Credit Check NZ
There are some lenders out there who will approve a loan without running a credit check. You can secure a loan from these lenders even if you have bad credit. However, it can prove to be a relatively expensive option. Ask yourself, “Why would a lender approve you for a loan without running a credit check?” There’s bound to be a catch somewhere. The catch is that they’ll charge you higher interest and more fees. This loan will come with a hefty price tag.
Therefore, it is best to steer clear of lenders who offer loans with no credit check.
At Jacaranda Finance NZ, we don’t work with lenders who offer no credit check loans. Our lenders follow responsible lending practices and will check your credit score when assessing your application. However, you won’t be denied just because you have a poor credit score as they look at other positive signs in your application.
Are You Eligible?
Are you eligible to use our lender-finding services for bad credit personal loans NZ? Well, we don’t have stringent eligibility criteria. So, you can use our service if you meet these requirements:
- You’re over 18 years of age
- You are a recipient of regular income into a personal bank account for at least 90 days
- You have a direct contact number our lenders can use to contact you
How It Works?
Step 1 – Submit Your Application
You can apply for bad credit loans NZ online. Our application is super simple and takes only minutes to complete. Just brew a cup of coffee, sit on the couch and fill the application.
You can get a rough idea of what a bad credit loan might cost by using our calculator. Adjust the slider according to the amount you want to borrow and how long it’ll take for you to repay the money.
Step 2 –We Evaluate the Application
Once you hit the submit button for your form, it lands in the assessment queue for one of our application assessment specialists. The specialist will quickly process your application to see if there’s a lender who’s suitable for you.
Step 3– We Locate a Lender
We get back to you as soon as your application has been assessed. You may get an outcome on your application from the lender within 60 minutes. However, approval times may vary depending on your application. We use industry best practices to ascertain you get a response and connect with your lender as soon as possible.
Why Jacaranda Finance NZ?
You might be thinking, “Why should I use Jacaranda Finance NZ?” Well, we are glad you asked. We don’t want to brag, but there are many reasons to choose us for finding a lender for bad credit loans NZ. For instance, our application is simple and it only takes a few minutes to complete. Not only that, but we process applications super fast. As soon as you apply, we’ll start processing your application to find you a lender (if you apply during normal business hours). We are ideal for consumers looking for emergency loans bad credit NZ as we don’t waste any time processing loan applications. You may get an outcome from the lender within 60 minutes (approval times vary depending on individual applications).
When you use Jacaranda Finance NZ, you can rest assured that you won’t have to deal with lenders who hide charges and fees from you. We network with lenders who don’t use nasty gimmicks to mislead consumers. Thus, you can avoid loan scams by using our lender-finding service.
In a nutshell, we are ideal for Kiwis looking for loans for low income and bad credit NZ. If life has been difficult for you in the past and you’re struggling to acquire a loan because of the mistakes you made years ago, we are here to help you out. We can find you a lender for a bad credit loan NZ. So, use our lending-finding service today and see how we can be of assistance.
Examples of what loans might cost.
Interest Rate between 1.5% and 20% per month.
$2,500 repaid over 13 months would have 56 weekly repayments of $75.05. Total interest $1702.80. Total amount repayable $4,202.80. This example is based on a monthly interest rate of 9% and an AIR of 108%. WARNING: This is a repayment estimate only. Your lender will determine the exact fees, terms and loan amounts available for you, which may alter your repayments. Annualised Interest Rates (AIR) could be as high as 620.5% depending on your personal situation.
Note, your lender may offer you different terms, fees or loan amounts based on your individual circumstances, needs and their own lending criteria. Please check your contract before signing.