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Can I still get car finance if I’ve been made bankrupt?

If your bankruptcy has ended and you’ve been discharged, the good news is you can apply for car finance again. Your bankruptcy usually lasts for one year, and when it’s finished, you’ll receive a letter which states that you are now ‘a discharged bankrupt’.

It is usually best to wait at least 12 months in order to try and improve your credit score before you start to apply for credit again, as it may be seen as negative if you start trying to get credit straight away. It’s also worth bearing in mind that if you’ve been made bankrupt, your credit score will have been severely damaged. This means you’ll be looking for car finance with bad credit. Zuto work with a large panel of lender who help thousands of customers with bad or poor credit get car finance so you’ve come to the right place.

How can I rebuild my credit score?

  • Try to use credit, such as a credit card, little and often and pay back on time each month.
  • Fix any mistakes on your credit report as this could impact your score
  • Make sure you are on the electoral roll so lenders can find your details when you apply for finance
  • Avoid making multiple credit applications in a short space of time
  • Pay your bills on time

If you’re looking for car finance after you’ve been made bankrupt, applying with Zuto means your credit score won’t be impacted upon application. Once you apply, we will search our large panel of lenders to try and find you the best car finance deal we can, based on your personal circumstances. If you’re approved with one of our lenders, our specialist team will be in contact to discuss the details of the finance offer and only if you’re happy, it’s at that point a hard search will appear on your credit file.

Written by

Mike Barlow

Content Manager

Mike has worked at Zuto since 2018 and uses his experience within the industry to help customers understand the ins and outs of car finance.

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