Bankruptcy Car Loans in BC
Bankruptcy car loans used to be challenging in getting an approval, but working with a knowledgeable Credit Specialist like you will with the team at 360 Approved, it is no longer an impenetrable wall. Every situation is unique, the extent of your debts right through to the cause of your bankruptcy. We work to understand the situation you are in and build a profile for the lender that shows how you plan to get out of it. Your credit score shouldn’t determine your character, life can hit you with unexpected situations where bankruptcy is the only option, and we want to help. This is the reason why the team at 360 Approved take the time to understand your situation and the circumstances behind the bankruptcy.
Bankruptcy car loans are handed out by people, not computers. People that can look past just what shows up on a credit bureau if they are given a reason to. That’s why we are confident that we can get you an approval whether you are just beginning a bankruptcy or working your way through one.

Getting a car loan doesn’t have to be impossible while in bankruptcy.
Here are the steps we use to successfully get you a car loan while dealing with bankruptcy.
We choose the right lender
We first start by only looking at lenders that are work with people who are dealing with bankruptcy. This really isn’t as hard as it once was and now we have options so we can select the lender that is the best choice for your financial situation.
We set practical expectations
The interest rates that apply to bankruptcy cars loans tend to be higher than those without a bankruptcy on their credit bureau. This is because credit report lenders tend to see you as a higher risk. Therefore, they typically want to charge you a marginally higher interest rate because of the associated risk. You might have the option to refinance the loan in a year or so. You would be able to refinance at a better rate once you have built up a history of consistent on-time payments.
We help put you on the path to a full recovery starting by being realistic, in your expectations and vehicle choice.
We talk numbers
We work with car selections specific to your budgets and bankruptcy recovery plan. Having a large down payment is an advantage, but we know it is not always possible. The more you have to put down on the car you want, the better. If you can come up with 20% or more to put as a downpayment, you are showing the lender that you are serious and that you want to start making better financial decisions.
With that being said every situation is unique. Get in touch with one of our credit specialists today to see just how we can help you on the path to recovery.