What Type of Default do you Have?
There are 2 types of defaults, utiltiy / telco default, and financial default.
Utility / Telco Default
If you have a utility / telco default, there is still a good chance to get car finance (with low rates too). However, you need to make the right moves to gain approval.
Although Finance Brokers earn a commission when they help settle your loan, you are much better off to work with a broker than it its to go out on your own and apply directly with the banks.
Financial Default
Financial defaults are much more serious compared to utility defaults. You need to be able to prove to the lender why you won't default on them this time around. To navigate the intricacies, a Finance Broker would be your best friend to getting approved.
How Brokers Help YOU
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Industry Knowledge
Brokers know which banks and lenders will be able to assist on your application and which lenders will still give you good rates too.
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Save Time and Money
Brokers will send you to the right lender the first time, get you the lowest rates, and will get approved sooner.
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Prevent Further Damage on Your Credit File
Brokers know what will get approved where. They will get you set without tarnishing your credit file further.