Car finance - discharged bankrupt

in Loans
3 replies 212 views
dm1983dm1983 Forumite
64 Posts
Part of the Furniture Combo Breaker
So, first things first, I've been discharged for over two years now.

I will be needing to get another car later in this year as my current one is starting to cost too much to maintain, and has it's MOT in a few months time as well.

I'd imagine getting finance will likely be difficult given the bankruptcy from 2018 (discharged April 2019) will still be on my file for a few years yet.

But can someone advise what options would likely be out there for me?

I have a small credit card, which is paid in full each month, so don't carry any other debt and the only other credit payment would be my mobile phone contract.


  • Finance secured on a car is easier to get than most other kinds.

    However, maintaining your existing car will almost certainly be cheaper than buying a new one.

    Don't be tempted to jump straight back into getting unnecessary credit.
  • [Deleted User][Deleted User] Forumite
    0 Posts
    1,000 Posts Second Anniversary Photogenic Name Dropper
    While your bankruptcy might well go after 6 years off your file, it is recorded forever in the register so could still be found out

    Can you not save up and get a cheaper one without finance (if you could afford the finance payments, you can afford to save)? Or use alternatives like public transport, a bike, taxi for the supermarket?
  • robber2robber2 Forumite
    554 Posts
    Part of the Furniture 500 Posts Name Dropper
    Facebook Marketplace, you can pick up a good Astra or Corsa for less than a grand. That way you can avoid the loan option completely.
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