Bankruptcy + Auto Loans FAQ

Bankruptcy FAQ

Can I get an auto loan while in an open chapter 13 bankruptcy?
Yes, you can get an auto loan while in an open chapter 13 bankruptcy. It will, hoever, require more work on your part and may take longer to complete.
Can I get a car loan during a chapter 7 bankruptcy?
yes, you can get a car loan after filing, but before the chapter 7 bankruptcy is discharged. Not everyone qualifies for these programs and the lenders who participate in pre-discharged bankruptcy auto loans are limited.
How long do I have to wait after the bankruptcy is discharged before I can complete an auto loan application after bankruptcy?
Most people qualify as soon as the bankruptcy is discharged.
Can a person who has had multiple bankruptcies still get a car loan?
Most people qualify as soon as the bankruptcy is discharged.


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More Bankruptcy Q & A

How much money down will I need?
When buying a car after bankruptcy, it is recommended that you have some money down. There are no money down auto loan programs available, but they usually have less favorable terms.
Will I qualify if I had a repossession in my bankruptcy?
Yes. Most bankruptcy auto loan lenders will ignore the repossession as long as the deficiency balance was included in the BK.
Bankruptcy FAQ