During bankruptcy: what's possible
Most lenders won't consider new car finance during the 12-month bankruptcy period itself. Some specialist lenders will, subject to the Official Receiver's approval and small vehicle values (usually under £5,000).
Post-discharge: the market opens up
The day after discharge, your case moves from "undischarged bankrupt" to "discharged bankrupt" on your file — a very different underwriting picture. Several specialist lenders on our panel actively serve this segment.
Realistic APRs
Expect 26-35% APR representative in the first 12 months after discharge. Rates soften rapidly with on-time payments — many customers refinance to 18-25% APR within 12-18 months.
Rebuilding through car finance
A well-managed HP agreement after bankruptcy is one of the most effective credit-repair tools in the UK. By the time the 6-year footprint drops off, you'll typically be back in near-prime territory.
