Finance One Car Loan Review

Unlike most of the lenders on our panel, Finance One doesn’t consider your credit rating when pricing your loan and specialise in helping customers with bad credit. However, this does mean that they impose high interest rates and monthly fees.

Best for

Consumer or commercial customers with impaired credit, such as past defaults, late payments on other credit facilities or bankruptcy agreements

Flexible employment policies, being able to accept as little as 3 months in a casual role and even less for full-time PAYG customers

No impact on your credit file (i.e., no hard check) until you are approved

Draw backs

High interest rates, with rates starting from 19% and going up to 25%

High monthly fees apply with Finance One, with a $27 monthly fee regardless of how large your loan is (or how strong your profile!)

Finance One overview

Founded in 2010, Finance One aims to find finance solutions for everyone - even if they’ve been rejected by other lenders and banks. They offer a range of finance options, from personal loans to business loans and car loans. Even if you’ve had defaults on your credit file, a bad credit history or have recently been bankrupt, Finance One can often still lend to you (particularly if your conduct has improved more recently).

They also have flexible criteria when it comes to employment, and are able to accept as little as 3 months in casual employment, or potentially even less for full-time PAYG customers. So if you’ve fallen on some tough times in the past but have just landed your dream job and are ready for a new financial commitment - Finance One may be able to help.

However, these flexible and forgiving loans do come at a price, and means that Finance One typically charge higher interest rates and fees than most of our other lenders. In fact, they have the highest starting interest rate of any lender on our panel (ranging from 16% to 28%) depending on which customer “tier” you’re in. Additionally, the monthly fees they charge are higher than average, at $27 per month regardless of the size of your loan or the strength of your profile. 

One upside of a Finance One loan is that they have no early payout fees. This means if you’re credit impaired and desperate for a vehicle and confident in your ability to consistently make repayments in the future (e.g. if you’ve just landed a great new job), you can always refinance your loan with a lender offering a lower interest rate once your credit score has improved and it you won’t be charged any additional fees.

How to apply for a Finance One loan

To apply for a car loan with Finance One, you’ll need to be at least 18 years old and employed for at least three months in continuity. Finance One won’t consider your credit history when pricing your loan, so even if you have a bad credit rating or have previously been bankrupt, Finance One may be able to help you.

They are also one of Australia’s most flexible finance companies when it comes to credit policies, so if you’ve ever thought you’re completely ruled out of getting a car loan it could be worth using Driva to see if you’re eligible. Remember, we protect your credit score and will only share your profile with a lender once we know it’s likely to be approved. Our process is risk free - so you can apply with confidence!

See if you qualify for a Finance One loan in minutes

Find my rates
Fixed rates from:

16% - 28%

Loan amounts:

$5,000 to $125,000

Loan terms:

1 to 7 years

Loan types:

Secured Consumer and Commercial Lending

Min. credit score:


Min. income:

No minimum provided servicing is evident



  • Establishment fee: $695
  • Monthly: $27
  • Early termination charges: None
  • Brokerage: $990 up to $14k, $1,100 otherwise

*Last updated 15/04/24

Big no-no's (automatic declines)

If you’ve had an unpaid default in the past three months

If you’ve been employed in continuity for less than three months

Driva tip: Finance1 can accept vehicles with up to 350,000kms on the odometer!

Other hot tips

Finance One doesn’t factor in your credit score when pricing your loan, so is a good lender if you’re worried about how your credit history might affect your rate.

Finance One - Frequently Asked Questions