Bad Credit Truck Loans
Credit problems shouldn't stop you earning a living. At Your Lending Friend, we specialise in helping owner-operators and trucking professionals with credit issues get the finance they need. Defaults, bankruptcy, low scores - we have specialist lenders who look at your business, not just your credit file.
We understand. Your past doesn't have to define your future.
Truck Finance for Real People in Real Situations
Life doesn't always go to plan. A business setback, a tough divorce, unexpected medical bills, or just a period where things got away from you. These things happen to good people, and they can leave marks on your credit file that make getting finance feel impossible.
But you're still a skilled truck driver. Your business can still be profitable. You still need a truck to earn your living. That's where specialist bad credit truck lenders come in - and where we can help.
At Your Lending Friend, we work with lenders who understand that your credit score isn't the whole story. They look at your business cash flow, your industry experience, and your ability to make repayments today.
Who Can We Help?
We specialise in truck finance for these situations
Your Credit Situation & Options
Different situations have different options - here's an overview
Paid Defaults
Good Options AvailableDefaults that have been paid off but remain on your credit file.
Many specialist lenders will consider paid defaults favourably, especially if your business is performing well.
Unpaid Defaults
Options ExistOutstanding defaults that haven't been resolved.
Harder than paid defaults, but specialist lenders may consider if the defaults are older and your current income is strong.
Discharged Bankruptcy
Options AvailablePreviously bankrupt but now discharged.
Most lenders prefer 12-24 months post-discharge. Longer since discharge means better options and rates.
Part IX Agreement
Options AvailableCompleted a Part IX debt agreement.
Completed agreements are viewed more favourably. Some lenders consider even during an active agreement.
Low Credit Score
Good OptionsScore below 500-550 but no major issues.
Some specialist lenders focus on business cash flow rather than credit scores. Your income matters more.
Recently Declined
Alternative OptionsKnocked back by a bank or other lender.
Banks have strict criteria. Specialist commercial lenders have different assessment methods.
How Bad Credit Truck Finance Works
Our process to help you get approved
Tell Us Your Story
We need to understand your credit history and current situation. No judgement - we've helped thousands in similar situations.
We Find Specialist Lenders
We know which lenders consider which situations. We'll match you with specialists who can actually help, not waste your time.
Present Your Best Case
How your application is presented matters. We highlight your strengths and explain your circumstances to maximise approval chances.
Get Back on the Road
Approved? Get your truck financed and start rebuilding. Consistent repayments will help improve your credit over time.
Checking your options won't affect your credit score
What Helps Your Approval Chances?
Specialist lenders consider many factors beyond your credit score
| Factor | Importance | Why It Matters |
|---|---|---|
| Business Cash Flow | Very High | Regular income from your trucking business is the most important factor. Lenders want to see you can afford repayments. |
| Industry Experience | High | Years of experience in transport shows stability and reduces risk in lenders' eyes. |
| Deposit Amount | High | A larger deposit (20-30%) significantly improves approval chances and rates for bad credit applicants. |
| Time Since Issues | Medium-High | The older your credit issues, the better. Lenders prefer problems that are 2+ years old. |
| Current Credit Behaviour | Medium | Clean credit since your issues helps. Showing you've turned things around matters. |
| Asset to Finance | Medium | Well-maintained trucks with good resale value are easier to finance than older or specialised vehicles. |
Bad Credit Truck Finance Details
Options available for challenging credit situations
We See Beyond Your Credit Score
A business that didn't work out. A tough divorce. Medical bills. The mining downturn. COVID impacts. We've heard every story and helped thousands of Australians who've been through hard times get back on the road.
Your past doesn't define your future.
Tips to Improve Your Chances
Save a Larger Deposit
Even an extra 10% can make a significant difference to your approval chances and the rate you're offered.
Pay Off Small Defaults If Possible
Paid defaults look better than unpaid. Even clearing small ones shows good faith.
Keep Your Business Accounts Clean
Avoid overdrafts and dishonours in the months before applying. Lenders will see your recent statements.
Gather Your BAS Statements
Strong BAS showing good GST turnover can help outweigh credit issues. Get these ready.
Be Honest About Your History
We can't help if we don't know the full picture. Tell us everything upfront.
Don't Apply Everywhere
Multiple applications hurt your score. Let us find the right lender first time.
Bad Credit Truck Loans FAQs
Common questions about truck finance with credit issues
Yes. Specialist commercial lenders exist specifically for situations like yours. They assess applications based on your business cash flow and ability to repay, not just your credit score. We've helped owner-operators with defaults, bankruptcies, and low credit scores get approved.
Yes, bad credit truck loans typically have higher rates than...
Yes, bad credit truck loans typically have higher rates than standard loans - usually 2-6% higher depending on your situation. This reflects the additional risk lenders take. However, making consistent repayments can help you refinance to better rates in 12-24 months as your credit improves.
Most specialist lenders prefer at least 12 months since disc...
Most specialist lenders prefer at least 12 months since discharge, though some will consider sooner. The longer since your bankruptcy, the better your options and rates. At 2-3 years post-discharge with clean credit since, you'll have much better choices.
Typically 20-30% for bad credit applications, compared to 10...
Typically 20-30% for bad credit applications, compared to 10-20% for standard loans. A larger deposit reduces lender risk and significantly improves your approval chances and the rates you're offered. If you can trade in an existing truck, this can help.
Getting a quote from us doesn't affect your credit score - w...
Getting a quote from us doesn't affect your credit score - we do a soft check only. A formal application with a lender will show as an enquiry, but we only submit to lenders likely to approve you, minimising unnecessary credit hits.
Yes, though newer trucks with better resale values are easie...
Yes, though newer trucks with better resale values are easier to finance with bad credit. Lenders see well-maintained, lower-kilometre trucks as lower risk. Older or high-kilometre trucks may require larger deposits.
Absolutely. Strong current business performance is the most ...
Absolutely. Strong current business performance is the most important factor for specialist lenders. If your BAS statements and bank statements show consistent income and your business is clearly profitable, lenders will often look past older credit issues.
Being declined doesn't mean you're out of options. Different...
Being declined doesn't mean you're out of options. Different lenders have different criteria. We work with specialist commercial lenders who specifically cater to applicants declined elsewhere. Tell us who declined you and why, and we'll find alternatives.
Still have questions? Contact our friendly team