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I Was Made 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?

Asked by Graeme

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

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 11 People

5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.

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