There are a lot of individuals looking for Central Illinois car financing after bankruptcy these days. Over 9,000 individuals filed between 2007-2011 to be exact. Unfortunately, a lot of them are being turned down at a bank and/or credit union, which is where we, Bankruptcy Auto Financing, come in.
Here at Bankruptcy Auto Financing we specialize in placing applicants with Central Illinois auto finance companies for bankruptcy that can get you the best deal on a car loan. These companies understand that in order to rebuild your credit score you need a new line of credit, and are competing for your business to give you the best deals in Central IL.
Rebuild Credit with a Central IL Bankruptcy Auto Loan
Some people that have found themselves in bankruptcy completely swear off getting any type of new line of credit. They hear horror stories about sky high interest rates, and being turned down everywhere you go. While it’s true that until your bk falls off your credit report you will have higher interest rates, there are ways to get an interest rate that will not break the bank completely.
The longer you are discharged from bankruptcy the lower your interest rate will be. Now, we understand that in some cases you can’t wait two to three years to get a car loan, and that is okay.
In those types of cases the best way to rebuild your credit after bankruptcy with an auto loan in Central IL is to get a cheap, reliable used car. They will have a lower interest rate than a new vehicle; making it more affordable for you.
Central Illinois Bk Car Loan Application
If you are looking to finance a car after bankruptcy to rebuild your credit, start today to see if you are pre-approved. We will then send your information to our Central IL lenders to see who can get you the best affordable rate.
Remember we are not lawyers and cannot give legal advice. The situations discussed are only our experiences through the years and may vary with each customer.