Discharged bankrupt car loans

Savvy has many car loan approval options for clients that have discharged from bankruptcy

Bad credit car loan experts

Don’t let bad credit hold you back. We help you drive your car sooner

Finance to suit your needs

There are some things that are simply out of your control. No one plans on being bankrupt. This can be disheartening when you are looking for finance for a car loan with the strict lending requirements that some lenders have. Savvy understands that not everyone is the same and deserves a second chance. Our experience in financing discharge bankrupt car loans makes it possible for you to start afresh with a loan that understands your current financial circumstances to give you a tailor-made loan.

We match you with the right lender

We have a team of experts who are equipped with industry experience is able to craft loans that are designed for people who have recently been discharged from bankruptcy and need a car loan. Our relationship with 25 of Australia’s leading lenders and bankers allows us to give you competitive loans with low interest to match your financial circumstance.

We assess you as an individual to match you with the right lender. Our consultants are waiting to guide you to a loan made for you.

Why choose Savvy?

We are accredited with the most reputable lenders to make the purchasing of your next car smooth with no delays or hassles

Commonly asked questions on bad credit car loans

Get the answers to commonly asked questions on discharged bankrupt car loans

I am still waiting to get discharged from my bankruptcy, can I still apply?

No. Lenders will only approve a loan if you have been discharged for a minimum of 12 months.

What is the interest rate?

There is no set interest rate as this will differ from lender to lender. However, at Savvy we assess your individual situation to give you an interest rate that is suitable for your financial circumstances.

How do I know that this type of loan is suitable for me?

The first step to knowing if a loan is suitable for you is to check if you meet a lender requirement. You also can check your credit score to see if you are ready to take on such loans. Having a deposit saved up is also a good indicator that you could be ready to take on this loan. However, this will differ from person to person. Therefore, speaking to a financial advisor can help you decide.

Can I apply if I am self-employed?

Yes, we offer finance for people who are self-employed. You will need to prove that you have a stable employment. can speak to one of our consultants to find out what options you have.

How often will I be able to make repayments?

We have flexible repayment options that can be paid weekly, fortnightly, or monthly to work with your cash flow.

How do I know that I am getting a good deal?

Savvy sources loans from leading lenders and bankers to give you a competitive rate. You can also use our loan calculator to compare loans. Comparing the loan features such as the interest rate, fees and charges can be a good way to tell if you are getting a good deal.

How much will I be paying in repayments?

You can use our car loan calculator to find out how much you will be paying each month and over the loan term.

How can I improve my chances of being approved?

Your credit file can be the first place to start to see if there are any errors or arrears that need to be fixed before applying. Having a deposit saved up can also show the lender that you want to be a responsible borrower. Remember to pay outstanding bills and borrow an amount that you can afford.

Can I ask for advice or ask a question with no obligation to apply?

Yes, our team of consultants is ready to assist you on any queries that you may have with no obligation to apply.

Can I get a loan if I am still looking for a car?

Yes, we offer pre-approved car loans that can give you more leverage when knowing how much you can afford for your next car.

Your helpful guides to discharged bankrupt car loans

More informative guides about bad credit car loans

What does it mean to be ‘discharged’?

The application process for accessing a car loan is riddle with terminology that needs to be understood before applying. Understanding what it means to be discharged can smoothen your application process. This basically means you have been released from all responsibility from existing debts for a period of 12 months or more. This will allow you to apply for a discharged bankrupt car loan, or a bad credit loan even if the bad mark on your credit file has not been erased.

Traps to avoid

Although you may have access to purchasing an important asset such as a car, there are certain traps to avoid to avoid accumulating more debt that could push you back to square one. Applying for a range of small loans can seem like a safe thing to do when you have just recently been discharged from a bankruptcy, but this could be a costly mistake that can affect your application and credit file. It could also make you come across as an irresponsible borrower who needs small loans to stay afloat.

Seeking professional advice

Being discharged from a bankruptcy means a second chance to start afresh with your finances. However, to get things right the second time around means seeking professional advice to avoid making the same mistakes. You can speak to a financial advisor or a broker when it comes to knowing what options are available for you and what you can comfortably afford without straining your finances. Seeking professional advice can help you find an option that can boost your credit score in the long run.

Tips on improving your application

There are a wide range on how to improve your application can be one way to ensure that the process is smooth for you. This is where thinking like a lender helps. This means assessing your credit file for any arrears that still need to be paid, proof of a steady stream of income, bill payments are up to date and avoiding applying too many times in a short period of time. It is possible to call in and ask a broker or lender what their requirements and how you can improve your chances.

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We are accredited with the most reputable lenders and insurers in Australia giving you a fair choice to compare