At BankruptcyAutoFinancing.com we are often asked “Can a person who has had multiple bankruptcies still get a car loan in Maryland?” In most cases, the answer is yes. As long as long as your most recent bankruptcy is discharged and you meet the minimum requirements you should be approved. With that being said, there are always different factors for each person that can either hurt or help your situation.

Getting a MD Auto Loan in Open Bk

Getting an auto loan during bankruptcy often requires more work from the debtor and can take a substantial amount of time to be processed, but there are some Maryland banks that finance people in open bankruptcy. Unfortunately, these loans are usually subject to those filing their first bankruptcy case, not their second or third.

Although it is possible; most MD lenders and banks will require you to be discharged and have a down payment. With multiple bankruptcies on your credit history you are a high risk to them losing money, therefore, they want to finance as little money to you as possible. This is where a large down payment comes in to play. It will not only lower the cost of the car, but also your interest rate.

Subprime Lenders for Multiple Bankruptcies

Here at BankruptcyAutoFinancing.com we work with a network of Maryland auto companies for bankruptcy applicants. By using a subprime lending company you have a greater chance at being approved for a car loan regardless of your credit history. So if you are ready to get your credit back on track and into a new-to-you vehicle, apply online today to see if you are pre approved.

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.