Yes, you can get a car loan after a bankruptcy or divorce if you have a job. Steady employment carries real weight with lenders, and because we work with several of them on your behalf, a rough patch in your credit history does not close the door.
Life happens to good people. A bankruptcy, a divorce, a medical bill stretch, these are some of the most common reasons a steady, working buyer ends up with credit that does not reflect who they are today. Lenders know this, and many of them care a great deal about where you stand right now.
Why your job matters so much
A reliable paycheck tells a lender you can make the monthly payment, which is the question they are trying to answer. Time on the job, steady income, and a payment that fits your budget can all outweigh an event that is already behind you.
What helps your approval after a bankruptcy or divorce
- Proof of steady, current income
- A down payment or trade-in to lower the amount financed
- A discharged bankruptcy rather than an open one
- A co-borrower, if you would like to add one
Time is on your side too. A Chapter 13 bankruptcy falls off your credit report seven years after filing and a Chapter 7 after ten, according to Experian, and the on-time car payments you make in the meantime rebuild your history long before either date arrives.
Apply online with no obligation and we will get you a real answer, usually in minutes. You get a fair shot and a plain-English explanation of every offer, the same treatment that has local buyers rating us 4.9 on Cars.com. We focus on getting you into a dependable vehicle and a fresh start.
Common questions
- Do I have to wait until my bankruptcy is discharged?
- A discharged bankruptcy generally makes approval easier, but it is still worth applying either way. We will look at your specific situation and tell you what is possible right now.
- Will a divorce on my record affect my application?
- A divorce itself is not what lenders weigh. They look at your current income and credit standing, so if you are working and ready, you have a real shot.