"Bad Credit" Auto Financing

[HRx]

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

[jenrw74]

www.capitalone.com/autoloans/


www.roadloans.com

[NotFun]

Has anyone tried any of these companies?

[SinkingFast]

Originally Posted by NotFun

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.

[tiredofdebt1]

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

[afterbk]

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.

[lrprn]

Originally Posted by afterbk

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.

[afterbk]

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

[lrprn]

Originally Posted by afterbk

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.

[danlewicki]

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?

[NOMOREBADCREDIT]

Originally Posted by danlewicki

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.

[tiredofdebt1]

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

[HRx]

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!!

[NOMOREBADCREDIT]

Originally Posted by HRx

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.

[bkhelper]

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.