Help & Advice

Bankrupt over 4 years ago. Can i get a car loan?

I was made bankrupt over four and a half years ago and have not applied for any credit or finance since. I have been fully discharged and was wondering how i would go about getting a car?

Graeme


Answer

Hi Graeme, thank you for your question.

The good news is that you have been discharged and haven't applied for any other credit as the more credit searches you have done against your name the worse your credit score becomes. I take it that you are employed with a full UK licence too?

If so, I'm confident we could get an approval for you as the bankruptcy was such a long time ago. However, this will still be recorded on your credit profile so the rates you receive will be higher than those seen on the high street. How much are you looking for and over how long?

Electoral roll history and a deposit would help matters also but these are not mandatory. Please make an application for an instant decision and once accepted we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Rachel

Answer correct as of September 2016

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Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

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More related questions

Hi Rachel, will Ford give me finance as I am a discharged bankrupt of four years?

Answer

Hi Mandy, thank you for your question.

You can certainly try to get car finance from Ford however, i do know that they tend to help people with good or immaculate credit histories.

If you try and get declined by Ford for credit please make an application with us as we do help people who have been refused elsewhere. Once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Rachel

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Rachel Wilson, Underwriting manager

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Rachel Wilson, Underwriting Manager

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Hitatchi

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender