Talking to Newstalk ZB's Heather du Plessis-Allan, Bridges said he was disappointed with Muller's stint at the top and how the leadership coup played out.
Both former leaders are part of Judith Collins' new-look, shadow front-bench, with Bridges at number four and Muller number eight.
Bridges says the party's election preparation was hindered but believes the rise of Collins could propel the party forward to success.
"I was really disappointed [in how the leadership coup played out]. It would have been a privilege to lead National into this election.
"We wasted a bit of time. There's a bunch of complex reasons for that.
"We're making back that time. We're going to finish this election much more strongly than the position we were in two or three weeks ago."
He went as far as saying Collins will give Prime Minister Jacinda Ardern a tough run and believes Kiwis will like what the new National leader brings.
"The reality is we are the underdog but we are stronger than we were four weeks ago.
"We're on the comeback trail. Even as the underdog we have a path to victory."
"Under Judith Collins you're not going to be left wanting to know what we think. There will be a contest and you will have a very clear choice at this election.
"I think we can [win]. It will be harder than perhaps it was. Prior to Covid we were in the mid 40s. Covid came along and people have rallied to the Government. We've had our issues. It's been a bruising time for National.
"We've got a new leader, people know her experience, they know her toughness, they know what she's about and we do still have a strong team.
"Literally as soon as tomorrow morning from Judith's announcement on infrastructure, you'll see us rolling things out. Whilst we are the underdog we've got a real chance of winning this election."
Asked whether National are in a better position now than when he was leader of the party, Bridges said the right person is currently in the job.
"I don't know. People can have their different views. We are where we are.
"Judith is our leader and she's going to do a really good job. Right here right now, for what we need, Judith is our person for the hour. New Zealanders won't be left wondering."
Meanwhile, Collins this morning revealed why former leader Simon Bridges has been given such a top position in her new caucus - even though she voted against him in Todd Muller's leadership coup.
Bridges has been given the number four spot in Collins' caucus, with Muller at number eight. Collins said Bridges deserved to be treated with respect.
"We all know Simon," Collins said. "There are two reasons (for his new position); he's a hard worker and he is intelligent. These are two excellent qualities as we try to get back into Government.
"He's a former leader. I do not like to see former leaders not shown the respect that their caucus chose to give them when they elected them."
