Even though the economy is starting to turn around after the recession some Minnesota lenders are still being pretty lenient on their auto loan requirements. Now, more than ever, financing a car after bankruptcy is possible for those Minnesota residents who have filed for bk protection.
While getting a car loan after bankruptcy discharge is getting easier sometimes finding the lender that will accept you is a little harder. That is why we offer a network of Minnesota lenders that are competing for your business and can help you get approved for the auto financing you need regardless of your bankruptcy history.
What Kind Of Loan Terms Are Available?
All loan terms are offered depending on the individual’s situation, but generally speaking, most MN dealerships and lenders will offer a used car loan for up to 48 months to individuals with bad credit. You can use our bankruptcy auto loan calculator see what kind of monthly payment would be associate with the loan terms you’re offered.
Our Minnesota lenders will work to get you the best rates around, but because of the bankruptcy on your credit report your credit score is probably pretty low. Because of this your APR will be higher than someone that has good or perfect credit, but it will still be affordable.
How Do I Obtain a Minnesota Auto Loan after Bk?
If you meet our minimum requirements and you’re ready to get started on the auto loan process simply fill out our quick and simple auto loan application. You will be contacted by one of our Minnesota financial specialists to walk you through the process and you could be in your new car in a couple days.
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.