Looking to get car financing after bankruptcy with no money down? Unfortunately, bankruptcy 0 down auto loans are nearly impossible. These programs are usually reserved for consumers with near perfect credit and no blemishes on their credit report.
Most lenders will not grant a loan with a recent bankruptcy because of the high risk involved. They don’t want to get into a situation where they could potentially lose a lot of money. Don’t be scared away though, we can help you get into a car at an affordable price.
Down Payments for Bankruptcy Car Financing
It can be difficult to pull together a down payment, but the reality is, in most cases a down payment is necessary. It’s not all bad though, the more you put down on a car, the less your monthly payment will be!
The down payment goes towards the ticket price of the car which we all know lowers your monthly payment, but what you might not know is it will affect your interest rate as well. The lower the financing amount is, the lower your interest rate will be. This is extremely helpful after a bankruptcy because such cases are already subject to high interest rates.
If you have gone dealership to dealership looking for one that will accept your credit history and have had no luck, don’t give up yet. Here at Bankruptcy Auto Financing we work with dealerships accepting bankruptcy. Our network of lenders is nationwide, and as long as you meet the minimum requirements we may even be able get you an auto loan during bankruptcy.
Start today by filling our online application to see if you are preapproved. We will send your information to our lenders, and you will be contacted with your approval information.
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.