Before bankruptcy it is not too difficult to wander into a bank or credit union and get an auto loan to pay for a car from a private seller. When your credit is good most banks are happy to deal with you and most private sellers are happy to deal with cash up front. But where does that leave people looking for a vehicle loan after bankruptcy?
Private Seller Cars After Bankruptcy
The good news for people looking to buy a car after bankruptcy is that most private sellers really don’t care about your credit rating post bankruptcy since they still want one thing. Cash or a check up front. If you have money on hand this is a great thing since rates tend to be higher after you file but not many people have that sort of cash on hand.
If you do find a private party that will finance your auto loan be prepared for steep rates and a short term. Unless you’re a relative most people don’t have the patience to deal with loan payments unless they are getting a sizeable percentage back.
Finding an Auto Financer Post Bankruptcy
So if the bank and credit unions are being unhelpful, private party car deals are to expensive, and automakers want to a high a score for a low APR what does that leave you for options?
Well thankfully we know of a few in your area in fact we work with them. There are car dealerships that work with bankruptcy clients to get them into vehicles they otherwise wouldn’t be able to find financing for. In fact in some cases we’ve been able to work with people to get them car loans while still in Chapter 13.
How? Because at BankruptcyAutoFinancing.com we are a leading provider for bankruptcy car loans. Our nationwide network of lenders specializes in bad credit auto loans including repossessions and bankruptcy. Apply today to see if you are pre-approved.
Remember we are not lawyers and we cannot give legal advice. The situations discussed are only our experiences over the years and may vary with each customer.