Key highlights
- A default is not always a dealbreaker
- Lenders look at how your business trades today, not just the listing
- One broker, 80+ lenders compared for the right fit
- A single targeted approach avoids stacking enquiries
- Request an obligation-free, indicative quote for a real assessment
Finding a default on your credit file can feel like the end of the road for a vehicle purchase. The reality is more nuanced. With 80+ lenders on panel, Overdrive can often match businesses that other financiers have knocked back.
Are defaults always a dealbreaker?
A default is a listing that a debt of a certain size went unpaid past a set period. While mainstream lenders may decline on the spot, others weigh the age, size and reason behind the default. Eligible applicants with an older or smaller default may still be considered, subject to lender criteria.
What do lenders look at with defaults?
Beyond the default itself, lenders assess how your business trades today, time in business under your ABN, the asset being financed and whether the listing has been paid or remains outstanding. A strong recent trading history can offset an older blemish.
How does a broker help with defaults?
Rather than applying widely and adding enquiries to your file, Simon Kendrick reviews your situation once and approaches lenders whose appetite suits your profile. This targeted approach protects your credit score while widening your options.
How do you get a real assessment?
Defaults vary widely, so the only reliable answer comes from a real assessment. Request an obligation-free, indicative quote and Overdrive will review your file and outline which lenders may consider your application.
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Free quote in minutes, decisions in 24–48 hours. No credit-score impact to enquire.