TN readers - auto lenders

[kellmaestra]

Hi,

The Trustee has approved our request so I am looking for finance options. I am mainly interested in online lenders who are NOT affiliated with any dealerships. I would like to go through Carmax to purchase a car.

thanks in advance,
Kelley

[rrockinggramma]

good luck finding financing. There are few if any places that finance anyone for anything while you are in a chapter 13. Your only option might be to turn to 722 which is high interest but then being in bk that is all you will get anyway. GL No one would even TALK to me about financing.

[optimistic1]

Try small local buy here pay here type places, the small lots, not bigtime dealers. Go to a place that states "your job is your credit." Call every dealer in your area and explain that you are in a Chapter 13 bankruptcy for the next three to five years and that you need a car.


Just be careful with these types of car dealers.

Have it inspected by a mechanic, call your insurance company to get a quote, and try to buy some type of extended warranty for it. Also, check the year make and model, and access the consumer reports for it, this will tell you if it is a reliable used car.

Here are some links about the same exact topic, several BK forum members have succeeded in finding a new car.

http://www.bkforum.com/showthread.php?t=33931

Try www.DriveTime.com, you might have one near you.

Worst case scenario, try having someone co-sign the loan with you, then you can go to the regular dealership, not like they are more honest or anything, but the cars are superior.

[optimistic1]

yup, i just called drivetime's corporate office, they told me they have no problem at all with providing a vehicle to someone in an active Ch.13, they said they will provide me with a quote for me to give to the attorney or trustee for approval, what a freakin sigh of relief finally for me.

[kellmaestra]

I filled out an application for DriveTime and their closest office is in Marietta, GA. That makes them a back-up plan.

thanks for the information.
Kelley

[optimistic1]

n/p

When you do succeed, and I know you will, make sure you post your success story to give us would be 13 filers some hope.