Once you have completed your Connecticut bankruptcy you should focus on rebuilding your credit rating, but what is the best way? Obtaining used auto financing after bankruptcy and making timely payments is a shoo-in way to raise your score, but be careful, some of the used vehicles being sold on CT car lots could be lemons. These cars could actually hurt your financial situation and credit score further if you get stuck with one!
Financing Cars After Bankruptcy: Spot Lemons Before You Buy
After Super Storm Sandy swept through the east coast last October thousands of vehicles were left totaled, and deemed so by the insurance companies. Now six months later some of those cars could end up on your local Connecticut used car lots. If you're trying to rebuild your credit after bk you'll want to avoid buying a lemon. Below we compiled a small list of tips to help you identify these possible lemons.
- Obtain a vehicle history report. Getting a vehicle history report for your car has never been easier since CARFAX has come around, and these reports should show you any major damage the car has endured. If there was an accident or any major repairs done they should have been reported and would be on the history report.
- Inspect the vehicle. Unfortunately, not all owners know of past problems or will report them so inspecting the vehicle thoroughly is a must. If you don’t know much about cars or what to look for have someone come with you that does, or take it to a certified mechanic. Be sure to check exterior, interior, undercarriage, engine compartments, and wheels.
- Check the paint. Yes, paint does matter. If any of the paint looks touched up or changed it could be hiding a problem. Be sure to check and ask if the paint is factory paint or not.
- Test drive the vehicle. This may be one of the most important steps. Be sure to take the car out on surfaces that you would drive on in a normal commute and drive the car as if it were already yours. Be sure to listen for any sounds that shouldn’t be there.
Recently discharged bankruptcy clients are the types of consumers some Connecticut dealerships look for. They know that you are in a vulnerable position with poor credit, and you’re going to need a bankruptcy car loan to rebuild credit. Luckily, by following these simple steps you could avoid any lemon on their lot and save yourself a substantial amount of money.
Find a Reputable Bk Dealer in Connecticut
Here at BankruptcyAutoFinancing.com we have a network of Connecticut dealers that accept bankruptcy clients and offer the best chance for an auto loan approval. Our lenders work only with the most reputable new and used car dealerships in the state so there is no worry of buying a damaged car or flooded car. If you’re ready to start back on the road to good credit with a used auto loan apply online today.
Remember, we are not lawyers and cannot give legal advice. The situations discussed are only our experiences over the years and may vary with each customer.