"Bad Credit" Auto Financing

A lot of people have had success at obtaining auto loans post BK by the use of networked lenders and dealerships available online. Below are links of various lenders and or loan searching services available to you. Be sure to do research each organization prior to applying with them. Keep in mind that the interest rates most commonly afford to subprime borrowers are double digit! So do your homework before making any decisions. I always recommend that subprime borrows be prepared to make good sized down payment on thier auto loans too.

Good Luck!

http://www.autonetfinancial.com/

https://www.hsbcusa-autoloans.com/

http://www.credit.com/r/auto0j

http://www.driverslane.com/

http://www.carcredit.com/

http://www.driverloans.com/

http://www.autoloans.com/index.jsp

www.capitalone.com/autoloans/


www.roadloans.com

Has anyone tried any of these companies?

Has anyone tried any of these companies?

We were approved thru both CapOne and RoadLoans. We went with RoadLoans due to their lower interest rate offer.

Process was really easy. You apply online thru their websites. Quick loan approval. Usually within 24 hours, you know the limit, the terms, and the monthly payment.

Within a few days to a week, you get a packet in the mail with a Blank Check. There's some follow-up info to complete and fax back. Insurance info and such. Once that's done, your check is activated and you're good to go car shopping.

The only hitch in the whole thing was the Dealer did not let us sign the check and take the vehicle home the same day. We did the deal and wrote the check one day, picked up the car the next. The Dealer wanted to run the check to make sure it processed OK. It seems,......... Some people have written those checks for more money than the limit they've been approved for. Can't fault the dealer for erring on the safe side.

How long did you get this car after your discharge? and did you have a higher interest rate?

If you have bad credit you can get an auto loan but you will get hit with high interest, and im not sure why my original post was deleted in naming sites to help people with bakruptcy get an auto loan
[URL deleted by moderator] is directly suited for this.

If you have bad credit you can get an auto loan but you will get hit with high interest, and im not sure why my original post was deleted in naming sites to help people with bakruptcy get an auto loan
[URL deleted by moderator] is directly suited for this. Here's why your first post was deleted - it's right in the forum rules that every member must read:

• All BF users agree not to use BF for advertising purposes without a written contract between yourself/company/agent and the administration of BF. Blatant advertising will result in a ban.

• All BF users agree that in order to post any "light" ads they must have a minimum of 100 valid posts. If you are a company wishing to advertise on the site or sell a product, you must have permission from the board administrator prior to posting, regardless of your post count.

When your username is afterbk and the only link you post on your fourth forum post is the afterbk website....hmmmm....seems pretty obvious why your first post and the link in this post were deleted by forum moderators.

understood. sorry for the trouble just seemed like my site sould be included.

understood. sorry for the trouble just seemed like my site sould be included. It can be if you get prior permission from our forum administrator, Lazar, and he okays it. Send him a PM (private message) and ask. He may not respond right away, but he will so be patient. Until then, hang out here with us and share what you know about rebuilding...just don't promote your website until you get permission to do so.

I have applied with a few lenders including capital one, hsbc and roadloans to no avail. I have a downpayment and am looking for the best possible option to finance. Where do I go?

I have applied with a few lenders including capital one, hsbc and roadloans to no avail. I have a downpayment and am looking for the best possible option to finance. Where do I go?same here.

go to Prestige financial..... www.bankruptcyauto.com..i have an open ch. 7 ....and i got a better interest rate than what i had when i got my surrendered vehicle....and this is a 04, toyota hilander ...through the dealership

If none of the subprime lenders are offering you financing at this time...then you will need start re-establishing some positive credit history first. This can be "easily" done by obtaining 1-3 subprime credit cards and making timely monthly payments for 6 months to 1 year. This will increase your odds meeting the lenders approval criterias to get subprime auto financing, if you haven't been able to get financing now. But keep in mind that the interest rates of subprime auto financing can be astronomically high. Rates can range anywhere from 8% to +25%, so think and plan very carefully before making a purchase if you've been offered an auto loan!!

If none of the subprime lenders are offering you financing at this time...then you will need start re-establishing some positive credit history first. This can be "easily" done by obtaining 1-3 subprime credit cards and making timely monthly payments for 6 months to 1 year. This will increase your odds meeting the lenders approval criterias to get subprime auto financing, if you haven't been able to get financing now. But keep in mind that the interest rates of subprime auto financing can be astronomically high. Rates can range anywhere from 8% to +25%, so think and plan very carefully before making a purchase if you've been offered an auto loan!!thanks iam having a hard time getting financing.what are some good subprime cards.

You really should look into Prestige Financial. If they turn you down it's because you can't prove income or possibly don't budget, past due on a mortgage or possibly never had car credit before you filed your b/k. This is a lender that specializes in bankruptcies.

I will always consult an attorney first before going into these deals

A lot of people have had success at obtaining auto loans post BK by the use of networked lenders and dealerships available online. Below are links of various lenders and or loan searching services available to you. Be sure to do research each organization prior to applying with them. Keep in mind that the interest rates most commonly afford to subprime borrowers are double digit! So do your homework before making any decisions. I always recommend that subprime borrows be prepared to make good sized down payment on thier auto loans too.

Good Luck!

http://www.autonetfinancial.com/

https://www.hsbcusa-autoloans.com/

http://www.credit.com/r/auto0j

http://www.driverslane.com/

http://www.carcredit.com/

http://www.driverloans.com/

http://www.autoloans.com/index.jsp

Do you think one of these places would finance BEFORE a Chapter 13 (with lousy credit)?

Do you think one of these places would finance BEFORE a Chapter 13 (with lousy credit)?Spearmint, HRx posted these links back in August 2006. The financial world (including car lending) has turned 180 degrees south since then. There's no way to know in today's significantly different economy if you'll have the same luck now that folks had with these lenders back in 2006.

This is a prime example why our forum rules don't allow posting to old threads like this.

Please try to avoid predatory dealers like DriveTime and JD Byrider and the like.

The hassle of dealing with them is worse than any other collection activity.

If you absolutely cannot stand the idea of saving up $1000-$3000 to buy a somewhat older and higher mileage car for cash, then try these links posted in this thread. Capital One does loan to people with less than stellar credit and at decent rates. I think their minimum beacon score is around 560. This leaves you free to purchase whatever vehicle you want from whatever dealer you want, and have them satisfied with what might as well be a cash purchase.

Beware of dealers claiming to accept Capital One and Roadloans checks and offer you partial cash back on the deal. They will likely issue you the cash back, pretend the "blank check" was no good, force you to sign financing through the dealer, and then you are liable for BOTH loans. OUCH!!! So be careful what you sign into. An attorney would likely be a good idea to go over any paperwork you get involved in, including any online lender documentation.

I just got out of a Chapter 7 BK and wanted to see if I could pre-qualify online for an auto loan. I made a very bad mistake by visiting www.usacarcash.com

I found them through another website or blog and they said instant approval so I clicked and entered the information and BOOOM! I started getting text messages, phone calls, and email after email with SPAM! dating services, home depot cards, job finding tools, get rich quick crap, $1500 pay day loans, ebay offers, YOU NAME IT tons and tons of spam.

I immediately clicked their unsubscribe link...but I am still trying to get off all of the lists that I got on...I hope they answer my email to help me.

Just wanted to inform ya'll so you don't get scammed like I did!

After struggling with 722 redemption and used car salesmen that just won't be honest I am coming to the realization that a cash for clunker is the best option for us right now. I mean buying and driving the clunker myself. Problem is I just don't have a few thousand to put down and need a car before we surrender the $500 month mistake we made three years ago. I paid close attention to the car buying tips in the post filing education and am not going to make those mistakes again.

45 days til discharge......

Any one had any experience with Green Light Auto Credit (MO)?

I received my Chapter 7 discharge Sept. 9th and have been without a car since August. Carpools saved me that's for sure. I applied online to all the major bad credit lenders and after a week not one reply from anyone. I then tried Roadloans and was approved the same day. I make 60K a year and was approved for a 24k loan but only with 5K down. 12.99% but if I had 5K I wouldn't need a loan. Like so many have said in this thread it's better to buy an old beater till at least six months after your discharge.

- I just got discharged on 09/22/2009 and walked into a car dealership. After running my credit app, a bank called Condor Capitol Corp approved me for a 2007 Pontiac Grand Prix w. 800.00 dollars down. The car was worth 14k. I turned down the loan though. I understand that my current credit situation doesn't give me the luxury of choice, however and I'm going off on a tangent, I was not going to buy an american car, much less form a brand that was revently discontinued. I am going to seat it out, rebuild my credit w. my credit cards for the next six months and save a considerable downpayment. I am not trying to buy a lex or BMW, however I consider a car to be an investment and want to buy one that is worth the 20k that I will be paying for the next five years.