Bankruptcy is a difficult decision to make, but sometimes it is the only option that Denver, CO residents have. Unfortunately, while it does wipe away your debt it also leaves your credit score down in the dumps. So what options do you have when you need a vehicle, but have really bad credit due to a recent Denver bankruptcy?
Apply for bankruptcy car loans. Yes, you read that right. Auto financing is possible even for those with a bk on their credit report, and here at Bankruptcy Auto Financing, we can help you find the Denver lender near you that will help you get approved.
Requirements for Bankruptcy Auto Loans in Denver
All car loans have certain requirement that must be met before your application will be considered for an approval, but with a bankruptcy on your credit report you will have a few more. Below we have compiled a list of requirements that Denver, CO dealerships may look for which include, but are not limited to:
- Monthly gross income of $1,500
- At least 1 year with current employer
- Down payment (may or may not be required, but recommended)
- No repossession within a year (unless included in bk)
- No motorcycle or private party purchases
- Must reside in the U.S. or Canada
If you don’t have money saved to put down on the car you may want to wait to apply until you do. Usually a down payment will be required because you are considered a high risk to the lender, and they want insurance that you a reason to keep paying on the vehicle.
Auto Financing in Denver after Bk
If you meet the minimum requirements and you are looking to get into a new or used vehicle after bankruptcy, submit our free and easy application today. Once we receive your information we will find the Denver dealership in your area accepting bankruptcy clients, and you could be driving away in your new affordable car within a few 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.