Needs vs. Wants When Buying a Used Vehicle in Bankruptcy

Needs vs. Wants When Buying a Used Vehicle in Bankruptcy

When it comes to buying a used vehicle in bankruptcy, you need to consider actual needs vs. wants. You may want a shiny sports car with a lot of power, but all you really need is a safe and reliable car to get you to and from work. Today we'll show you how to find a great automobile that balances your requirements and your desires.

Finding a Used Vehicle that Balances Your Needs vs. Wants

Needs vs. Wants When Buying a Used Vehicle in Bankruptcy

Because finding the "perfect" used vehicle can be impossible, it's important to balance your needs vs. wants. You should start by determining the safety features, seating and cargo space that are necessary for your lifestyle, and look at a few cars that meet those requirements. A great source of information is Kelley Blue Book's list of the 10 Best Used Cars Under $8,000.

Some of the most important factors to keep in mind when looking at pre-owned automobiles for bankruptcy car financing are:

  • Reliability
  • Safety features
  • Crash ratings
  • Cost of ownership
  • Fuel efficiency

Once you have found some vehicles that fit your requirements, you can begin to look at what you desire in a car. If you've always dreamed of owning a red car, but can't find one that fits your budget, you should keep an open mind when it comes to color. You should also keep in mind that certain options such as GPS, a remote car starter, and a better stereo system can be added later on.

Bankruptcy Financing for Pre-Owned Cars

Bankruptcy financing for pre-owned cars is much easier to get these days through reputable online companies such as We have a network of lenders who work with bankruptcy. Whether you need an auto loan after Chapter 7 discharge or during an open Chapter 13 bankruptcy, we can help.

To get started, simply fill out our quick and easy online application. Once you are pre-approved, we will match you with a local dealer who can work with you. Then all you have to do is pick out the vehicle that balances your requirements and desires.

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.

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