need another car

jules23958

came out of bankruptcy in October 2007 after 6 months in bankruptcy. Salary now increasing have one more year left to pay on my present car but am reaching the stage now where I need to consider purchasing a different car as I need to keep a reasonable standard for my profession. Is there any chance I will get a car loan or will I have to wait until my bankruptcy is written off my credit status?

Merry_Gentry

You stand very little chance of getting a loan. Your credit history wont be 'clean' until six years after your discharge, and in the current climate you won't find many places ready to lend to you. If they are prepared to lend to you, you need to be prepared for horrendous interest charges!

tmcd01

You can try these:

http://www.fairinvestment.co.uk/bankruptcy_car_loans.aspx

But i would imagine Merry is right - prob stupid interest rates

Good Luck!!

peachyprice

But you may be able to lease a car, a bit like renting it, you make monthly payments but never actually own the car.

There is someone here who does that, but I can't remember who, sorry.