Car With Bad Credit

Car With Bad Credit logo

Can i have Bad Credit Car Finance with a Bankruptcy?

Can I have Bad Credit Car Finance with a Bankruptcy?


When it comes to consumers’ credit ratings the pinnacle of what is deemed to be ‘Bad Credit’ has to be Bankruptcy and the associated stigma that comes along with it. In October 2023 we saw a total of registered company insolvencies was 2,115 in the UK that filed for Bankruptcy {Bankruptcy figures October 2023} and to put this into perspective that’s 18% higher than in the same month in the previous year (1,954 in October 2022). So it certainly affects a decent-sized number of people. The common consensus is that by being tarred with the Bankrupt brush the chances of ever being considered for a financial product ever again are slim to absolute none but is this correct? In one word – ‘NO’. A specialist area such as the Non-Prime market requires a specialist lender and so this means that with Car With Bad Credit, your application is being handled by people who understand your situation and also can look past what the ‘mainstream’ opinion is.


Bankruptcy results in a clean slate

The basics of carrying out a Bankruptcy order means that the applicant has all existing finance agreements wiped clean and after the 1 year required has passed what you are left with is a consumer with very little in the way of outgoings. In this current age of credit this can often mean that compared to the typical man in the street and person who has completed a bankruptcy will maybe have no Hire Purchase Car Payment, no Bank Loan, no mobile phone, no credit cards, no T.V. on credit – no anything! To the lenders we operate alongside this pattern has been identified and so their business model will take into account the fact that the customer will have very little other than their living expenses and housing costs. Our instant scoring system means that an application when entered onto our website will provide us with an answer from our first-line lender immediately and their calculations are worked in favour of bankruptcies believe it or not.

Bankruptcy can even help Bad Credit finance applications

Bankruptcy can even help Bad Credit finance applications

As mentioned previously the types of lenders we operate with will look at a Bankruptcy in more of a positive light than you would get from a high street finance house.  Many consumers will approach us for funding and it will be the first thing that they have attempted in several years since the Discharge of the order and so it is often a case of hit and hope for the best. The fact that we regularly respond with a car finance approval is the best news we can supply and often at a better rate than customers who are just in a bit of a financial mess.


What Car can I choose?

With many specialist car finance companies you might find that you are given approval but when it comes to the choice of your new car you are restricted to either what is in stock or a small amount of cars from a list. With Car With Bad Credit we try to ensure that our customers get to pick the exact make and model of their next vehicle as this helps with customer satisfaction but also if you are going to be paying more than usual for a monthly payment as is to be expected with Non-Prime finance then why shouldn’t it be for the car you want! With our main company this means that providing the vehicle isn’t too old or has high miles on the clock we can simply pay the requested dealership for the motor. This means that once you are accepted all you have to do is search for the ideal car – speak with your consultant and when happy with the monthly cost we will do the rest for you.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top