Car Loan Rip-off??

[drownedNdebt]

Hi everyone,
I am trying to find a used car before I have been discharged, just so I can to and from work everyday. I am currently in a car that I am giving up in BK... However, one place told me they can secure a loan for me after my 341 meeting w/o having been discharged. They said they are one of the few dealers that can do this, b/c they have a contract with some banks. Now are these people blowing smoke up my you know what or can it be true? My credit is not that great especially w/ the BK, on top not being discharged, how can they do this? They just said, as long as my meeting is out the way, they can do something for me. Does anyone know anything about banks like this?Does the 341 meeting magically do something to your credit? I know my interest rate is going to be up the roof, as I expected when I began looking for another car, probably with any credit I try to get for the next couple of years...Any input would be so much help!

Thanks

[Genenco]

Well, from what I hear from the group here, is that it may be a month or more AFTER BK when they come and get it. I know you sure don't want to get stuck, but I'd be looking for a beater just to get by till I was ready for the big purchase.

[AAAArt]

I have been thinking about this for a while, but wasn't sure where to post it. Anyone going through a 2nd tier lender or agency, should be very wary of getting flood damaged cars which have been cosmetically repaired. There are many other things which may not show up now, but can and will later on a flood damaged car. Before you sign the dotted line, do a check on that particular car.

[skincomplicity]

I have received several offers in the mail from local dealers saying they can get me in a car before the 341. I surrendered my truck. But my understanding is you are not to buy anything during the BK process. I did call one of the dealers and they said they couldn't do anything til after the 341. I am not sure what the difference is before or after since you are still in the BK process. I know there is a 722 redemption that allows for purchasing another vehicle....I don't know the details personally but there are several posts on here about it. Also , the interest rate for those dealers saying they can get you in a car is outrageous! And I'm sure the price of the vehicles are trumped up.

[drownedNdebt]

but I'd be looking for a beater just to get by till I was ready for the big purchase.

Yes, but I dont want to spend money on a beater when it could be toward my 'big purchase'..you know what I mean?I don't have money to throw away like that.......So you think I could get stuck with a lemon?,wow, I was more concerned about what I would be paying! Now I have that to worry about? They definitely have a good selection of cars, even a used convertible. But do banks like these only finance people like me for a certain amount with the highest interest rate possible in the state?......Oh yeah I understand you cant make any purchases, but I think when you can no longer afford your 17,000 car and are giving it up, you can get into a cheaper vehicle to be able to work, am I right about this?

Thanks for all the input!

[skincomplicity]

The dealers I recieved letters from said that your income has to be at least $1500 a month and your payment can not be more than 20% of your monthly income( at that rate - a $300 payment). Not sure what quality of car you can get at that payment , at a high interest rate, that is worth it in the long run..........but I'm sure there are some out there. And yes , I need a car too, but haven't decided what is my best option and what I can legal do until BK is closed. I'm car pooling for now, which sucks, but you gotta do what you gotta do!