With over 41,000 people filing for personal bankruptcy in Arizona in 2010, there were a lot of individuals and families left with no form of transportation. So where do they turn when they need an auto loan after bankruptcy in Arizona? To us, here at Bankruptcy Auto Financing.
The subprime lenders we work with have been specializing in bad credit auto loans for years and understand the situation you are in. Whether you have had past repossessions or bankruptcy on your credit history, they will help you get after bankruptcy auto financing and into that car you have had your eye on.
Arizona New or Used Car Loans after Bankruptcy?
There are thousands of new and used cars in Arizona, so which is the best choice for someone coming out of bankruptcy? Since your credit score will be low after bankruptcy it would make more sense to get a used car loan more so than a new. New cars come with a higher price tag which means higher interest rates and longer loan terms.
Because you do have a bankruptcy on your credit, a used car loan will come with high interest rates also, but they will be lower than they would be with a new car. A used car has a lower price tag, lower interest rates, and shorter loan terms. A used car loan will also be beneficial if you are looking for auto loans during bankruptcy. This is because the judge on your case can put restrictions on the amount you can finance and your interest rate.
Get a Bankruptcy Auto Loan in Arizona
If you are one of the thousands of Arizona residents that are looking for auto financing we can help with getting a car loan after bankruptcy. Start today by filling out our online application to see if you are pre-approved. We will send your information to our lenders and if you are approved we will set you up an appointment with an Arizona bankruptcy dealer near you.
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.