Running a small business can change quickly when circumstances outside your control suddenly impact cash flow.
For one young landscaper near Gawler, 2024 became far more difficult than expected after a major building client collapsed financially, leaving substantial unpaid invoices outstanding.
Like many subcontractors and small operators, the business had already committed labour, equipment and operating costs into the project before the builder went under. The unpaid amounts created significant financial pressure almost overnight.
Eventually, the borrower had little choice but to declare bankruptcy, reset financially and focus on rebuilding the business from the ground up.
One of the biggest challenges during that process was transport.
For landscapers and trade businesses, reliable vehicles are not simply personal transport. They are often critical business tools used every single day for:
• travelling between jobs
• transporting tools and equipment
• carrying materials
• maintaining reliable workflow
• securing future contracts
At the time, the borrower owned an older Holden vehicle and had limited cash reserves available after the financial setbacks.
Traditional vehicle finance options were extremely limited due to:
• recent bankruptcy
• reduced lender appetite
• limited assets
• rebuilding financial position
• tighter lending policies
Despite the challenges, the borrower still needed a practical solution to continue working and rebuilding income.
After reviewing suitable options, a low kilometre 2018 dual cab ute valued at approximately $32,000 was sourced to support the borrower’s landscaping business and day to day operations.
To help strengthen the structure:
• the existing vehicle was traded toward the purchase
• additional personal funds were contributed upfront
• the remaining balance was structured through a more flexible rent-to-own style arrangement
The final structure allowed the borrower to:
• secure a reliable work vehicle
• continue operating the business
• preserve limited remaining cash flow
• begin rebuilding financial stability
• continue servicing clients without major downtime
For many borrowers, situations like this become less about finding the “perfect finance deal” and more about finding a workable pathway forward during difficult financial periods.
This is becoming increasingly common across regional and outer metro areas as more self-employed borrowers, subcontractors and trade businesses navigate:
• builder collapses
• cash flow disruptions
• insolvency impacts
• tighter lending conditions
• rising operating costs
Some of the questions borrowers are now asking include:
Can bankrupt borrowers still get vehicle finance?
Sometimes. Certain lenders may still consider borrowers with previous bankruptcy depending on the overall situation, stability of income and structure of the application.
Does being self-employed affect vehicle finance approvals?
It can. Lenders often assess income consistency, business stability, liabilities and repayment capacity differently for self-employed borrowers.
Can trade-ins improve approval chances?
Yes. Trading an existing vehicle and contributing funds upfront may help reduce lender risk and strengthen the overall application structure.
What is a rent-to-own vehicle arrangement?
Rent-to-own style finance structures may provide alternative pathways for some borrowers who do not currently fit traditional lending criteria, although terms and ownership conditions can vary.
Can borrowers refinance later?
In some situations, borrowers may become eligible to refinance later if financial position, credit profile or lender eligibility improves over time.
Many borrowers across Gawler are now reviewing vehicle finance earlier before purchasing, particularly when rebuilding business cash flow, managing lender expectations and preserving operational flexibility all need to work together.
Thrive Broking Gawler works with borrowers across South Australia to help navigate vehicle finance, self-employed lending and non-standard finance scenarios, helping clients better understand lender expectations, affordability and finance structure before committing to major purchases.