top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

"Bad Credit" Auto Financing

Collapse
This is a sticky topic.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #16
    I will always consult an attorney first before going into these deals

    Comment


      #17
      Originally posted by HRx View Post
      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!

      Quickly receive car financing with bad credit from trusted car dealerships. We will match you with a dealer that will give you the best shot at approval.






      If you're looking for a used car and have bad credit or no credit, you're in the right place. Drivers Lane has been helping people like you for over 16 years find bad credit auto dealers and no money down used cars near them. Request financing today and let us help you.


      CarCredit.com provides exclusive information relating Bad Car Credit, Auto Loans, Debt Consolidation, Auto Refinance, and even information regarding Credit History and PayDay Loans.


      I found a great domain name for sale on Dan.com. Check it out!


      http://www.autoloans.com/index.jsp
      Do you think one of these places would finance BEFORE a Chapter 13 (with lousy credit)?

      Comment


        #18
        Originally posted by spearmint View Post
        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.
        Last edited by HHM; 03-28-2009, 05:23 AM.
        I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

        06/01/06 - Filed Ch 13
        06/28/06 - 341 Meeting
        07/18/06 - Confirmation Hearing - not confirmed, 3 objections
        10/05/06 - Hearing to resolve 2 trustee objections
        01/24/07 - Judge dismisses mortgage company objection
        09/27/07 - Confirmed at last!
        06/10/11 - Trustee confirms all payments made
        08/10/11 - DISCHARGED !

        10/02/11 - CASE CLOSED
        Countdown: 60 months paid, 0 months to go

        Comment


          #19
          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.

          Comment


            #20
            I have someone you SHOULD NOT use!!!!

            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!

            Comment


              #21
              Bad credit auto loans

              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......

              Comment


                #22
                Any one had any experience with Green Light Auto Credit (MO)?

                Comment


                  #23
                  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.

                  Comment


                    #24
                    - 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.

                    Comment


                      #25
                      I just applied through roadloans.com
                      It says that they denied us for no open bankcard on file. Is this to mean a credit card OR a debit card through a bank? No I don't have any credit cards, as my chapter 7 was just disgharged. I applied for a mastercard through capitalone yesterday and was approved. I have yet to receive the card yet.
                      I have had an open bank account through bank of america since 2002 in good standing. The chapter 7 was only filed, due to a job layoff in 2008. Charge offs and a garnishment from a 2003 repo was the reasons for filing the chapter 7.
                      I do not understand. My attorney told us the easiest thing to get first after filing the chapter 7 was an automobile loan? We keep getting denied. Who else is there to go through out there?
                      Chapter 7 filed 2/26/2010
                      341 meeting 4/18/2010
                      Discharged 6/14/2010-On our way back up the ladder from a rough patch.
                      FICO score goal by June 2011:720+

                      Comment


                        #26
                        Originally posted by oii View Post
                        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.
                        DO NOT, go through drive time. I do not care how desperate you are. We had a grand am through them and then my husband got injured on the job. Workers comp. paid only about 40% of what he was use to making. He received the max. workers comp of $350 a week. It was a sacrifice to either keep a roof over our head or the car. We chose to do a voluntary repossession, which is still just as bad on our credit. This was in Oct. 2003. Lets skip to 2008, 5 yrs later. They turned everything over to a VERY shady attorney in South Ga. These jokers went behind our backs 3 times to court. 1st they got a judgement of $17,000 on a car which we only owed $6,000 on. 2nd they went and put a lien on the ONLY car we own and 3rd they then went to a county which we do not even reside in to get a garnishment order. THESE JOKERS ARE THE MAIN REASON WHY WE FILED CHAPTER 7. They were garnishing sometimes 70% of my husbands weekly paycheck. We are STILL behind on our bills, because of those jerks. Also not to mention that drivetime charges you 29.9% interest rates. We had owned that car for almost 2 yrs when he had his job injury, which resulted in surgery. My marriage almost ended, due to the stress from those crooked jokers.

                        Filed Chapter 7: 2/26/10
                        Meeting of creditors: 4/18/10
                        Discharge: 6/14/10
                        Chapter 7 filed 2/26/2010
                        341 meeting 4/18/2010
                        Discharged 6/14/2010-On our way back up the ladder from a rough patch.
                        FICO score goal by June 2011:720+

                        Comment


                          #27
                          lrprn: You stated that the auto financing world has done 180 degree spin since this thread was started. Does that mean most of these links won't help up? Because if they are no help, should this topic still be stickied? Thanks

                          Comment


                            #28
                            double post, sorry

                            Comment


                              #29
                              Add Drive Financial to the DO NOT use list.
                              Ch 7 filed 8/15/11 341 9/22/11 Discharge 11/28/11
                              The rebuilding begins

                              Comment


                                #30
                                I was approved by RoadLoans for I-forget-how-much (maybe $17,000?), at 19.99 percent, and only if I went through a certain dealer, which said dealer is only the second company I recall coming across that had an "F" rating from the BBB.

                                I would also have to finance the car over 72 months and (according to what others wrote in reviews about the dealership) take out an additional "extended warranty" through the dealership to cover the car until it was paid off.

                                I told RoadLoans that I was declining their offer because the loan shark down the street has better terms (which actually isn't too far from the truth), and I prefer dealing with local businessmen, anyway.

                                I'll drive my old jalopy until I can afford to pay cash for a decent used car or until it dies in the street, before I'll deal with thieves masquerading as bankers. If I'm going to deal with crooks, I want to deal with crooks who at least are honest about being crooks.

                                -Rich
                                Filed Chapter 7: 8/24/2010. Discharged: 12/01/2010
                                Member and Exalted Grand Master: American Sarcasm Society (A.S.S.).

                                Comment

                                bottom Ad Widget

                                Collapse
                                Working...
                                X