If you are looking for Arkansas bad credit car loans after bankruptcy at a traditional bank or credit union, you might have a difficult time being approved. This is because Arkansas traditional lenders have higher requirements for approvals that people with bad credit can struggle to meet, but don’t be discouraged you still have options available.
Getting approved for auto financing after bankruptcy is typically easier when using a subprime lender. This is because they have special qualifications that allow them to work more loosely with bankrupt clients without turning them away. The downfall is that even with subprime lenders the interest rates on bad credit car loans is higher than with traditional auto loans.
Chapter 7 and Chapter 13 Arkansas Bk Vehicle Financing
Many people don’t understand the difference between an Arkansas chapter 7 and a chapter 13 bankruptcy. Although they both negatively impact your credit score, there are different things you can do in a chapter 7 bankruptcy to keep your current car and in a chapter 13 to keep your current car, so you don’t have to worry about applying for car loans in bankruptcy or after.
Unfortunately, keeping your car is not always possible or the best financial decision for you. In those cases, BankruptcyAutoFinancing.com is here to help you find the Arkansas dealership near you that is willing to work with bankrupt clients.
Arkansas Online Car Financing in Bankruptcy
Believe it or not, applying online for car financing in bankruptcy may be the best bet for you. By filling out and submitting your application online we are able to send your information to all of our Arkansas dealerships that are able and willing to work with individuals in your situation. The one that offers the best deal with then contact you to schedule and appointment. We do the researching for you and all you have to do is the driving!
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.