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Who were approved through post BK and some details...

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    Date Discharged: January 4, 2011
    Capital One: Approved up to 40, 000
    Rate- 8.39% for a 2010 72 months
    OR
    Buy a 2012 at 7.16%
    My Score- unsure- according to creditkarma.com it was 646 but after they checked all 3 beauros it is now 640 (lost 6 points)

    have not decided whether I will go ahead and purchase a vehicle or not. Either way, I suppose the rate isn't too bad with all things considered.... and I haven't checked to see if the dealer can beat the rate. I will though. I heard you can apply to many places within a couple weeks time for "rate shopping" without it affecting your credit. True????
    My kids better not put my FICO score on my headstone~ (quote by dspii)

    Comment


      Originally posted by IBroke View Post
      Lender: Drive Financial Services
      Update: I just found out that my lender is REGIONAL ACCEPTANCE CORP., not Drive Financial Services. Dealer told me Regional wasn't in their system yet so they had to use Drive first.
      Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
      FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
      FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.

      Comment


        Our Chapter 7 discharge was October 19, 2010.
        Lender: Capital One
        Amount: Up to $18,000 with a 10% down payment (the best scenario would have been 110% financing)
        Rate: 5.77% for 2010 or newer, slightly higher for up to 7 years old
        Term: 72 months
        Fico score 654
        The car cannot have more then 70K miles on it to qualify.

        All in all I was surprised that we got that good of a rate when it has not even been a year. However, both our cars are paid for and were not included in the BK, we still own our house and have never been late the almost 6 years we have owned it and have a cap one credit card we have been paying on time for since December 2010.

        Comment


          Date Discharged: March 7, 2011
          Lender: Ally Financial
          Date Applied For: August 27, 2011
          Approval Amount: $20,000
          Interest Rate: 6.84%
          Term:72

          Was approved for up to $25,000 at 7.36 percent by Capital One Auto Finance. Dealership really didn't want to go through the Capital One Blank Check hassle and pulled some strings to get me financed through Ally Financial. Put down $2,000 and got $4,500 in rebates. I'm extremely pleased with my approval and purchase.
          Filed: 11/30/10, Successful 341 Meeting: 1/5/11, Discharge 3/7/2011
          Post-filing,Pre-Discharge scores as of 2/16/11: Ex 568, TU 554, EQ 623
          Scores as of 8/12/11: EX 626, TU 620, EQ 630

          Comment


            Congrats!

            Looking at the interest-rates you guys got, I might be able to save quite a lot once I refinance in February. The 18% I got are really burning under my fingernails and I certainly won't keep this loan for more than 6 months...
            Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
            FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
            FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.

            Comment


              Originally posted by nickels22 View Post
              Dealership really didn't want to go through the Capital One Blank Check hassle and pulled some strings to get me financed through Ally Financial.
              Of course not! A few years ago, I did the CapOne blank check thing. They gave me a lot of [email protected] about taking the CapOne check.. it's because the dealership gets some sort of kickback when you go through them "even if" you get the exact same deal and interest rate on the loan through them.
              Retained Lawyer: 04/2009 Filed: 09/2009 341 Meeting: 10/2009 Discharged: 12/2009 Asset: 05/2010 made asset Closed: 07/2013 after 47 long months

              Comment


                Date discharged: 12/2/10
                Lender: Wells-Fargo
                Date applied: 9/3/11
                Approval amount: 18,000, but only used $15,000
                Interest rate: 8.3%
                Term: 60 or 72 months
                FICOs: me: 640, husband: 649

                Cap One approved us at 9.1% for 72 months, new car loan. We decided to go with 2011 low mileage used car, to keep our payments lower. We're being very careful as we rebuild-- taking no chances on getting in over our heads with payments!

                Comment


                  Date discharged: 4/1/2011
                  Lender: Ally financial
                  Date applied: 9/7/2011
                  appr amt: $14000
                  down pymt required by lender: $2000
                  interest rate: 11.9%
                  Term: 60 months
                  FICO: 646

                  This was for a used SUV. The finance guy said that if we went with a new car we would have gotten a bigger loan with less down but we had to keep our payment under $300 a month as I am still unemployed. We would not have been buying a car at all if the engine hadn't blown in our 10 yr old SUV and it was going to cost more than the SUV was worth to have it fixed.

                  Cap One denied us and we included 3 cards in bk with them. All our bank accounts are with Wells Fargo and we didn't bankrupt anything with them and they also denied us. Roadloans approved us for $16500 with $600 down at 17.25% but the dealership where we found the car we wanted didn't take them.

                  Comment


                    Originally posted by dneil View Post
                    I heard you can apply to many places within a couple weeks time for "rate shopping" without it affecting your credit. True????
                    Rate shopping is ok if all inquiries are done by the same type of company... ie car dealer - car department at bank - etc. It reads something like this...

                    All inquiries made within 45 days are considered as 1 inq when calculating score of the same type (think car loan or mortgage - NOT CC.) All inquiries made withing the previous 30 days of the same type are ignored when calculating the score. (you get 30 days to shop before that inq impacts your score).

                    Source: http://www.myfico.com/CreditEducatio...Inquiries.aspx

                    Comment


                      Capital One
                      rate: 15.4
                      amt: 18k
                      discharged: 10/09
                      fico: 615 (blank check package shows mid 500s though)

                      thankful to even get a loan despite the rate. I'll refi down the road

                      question though: Income still "under review" (faxed to them 2 business days ago) I called and cap one said wait til tomorrow and that everything looks fine.

                      Is this typical? i can't shop til this weekend but 3 business days when their package said 2 is worrying me.

                      Comment


                        Capital One - conditional approval - I have to fax in some info
                        amt: $12k (Put $10k in the app)
                        rate: 2010 or newer - 12.62%, 2004-2009 - 13.76%
                        Discharged 8/30/11
                        Credit Karma score - 586 (in the past this score has been the same as my TU score from myFICO.com)

                        I've been riding my bike to the bus station to get to work, but its getting colder out and I am not riding in the snow!

                        My only worry is a down payment - I can maybe do $500 or wait a month and do $1000, crossing my fingers they won't need more
                        Jessica
                        Filed Chapter 7 (Minnesota): 5/23/11
                        Discharged 8/30/11, Not yet closed...

                        Comment


                          Date discharged: 6/8/2011
                          Lender: Capital One Blank Check
                          Date applied: 9/14/2011
                          Date approved: 9/15/2011
                          Income: at least $60,000 single
                          applied for: $20,000 used from dealer
                          deposit: $0 down
                          appr amt: up to $24,000
                          interest rate: ranges pending model year from 9.75% to 11.46%
                          Term: 60 months
                          FICO: 582 (Transunion)

                          Capital one pulls Transunion.
                          I'm so happy that i got approved as I figured I would as I was just approved for my second Capital One cc on 9/13/11. My first Capital One cc is a step program secured card which i got approved for 2 days post discharged with a credit score of 490s. Previously i Bk'd a capital one cc (that i got when i was 18) small balance under $500.

                          Now it's time to go car shopping yay!!!!
                          Last edited by MsKMG86; 09-15-2011, 03:07 PM. Reason: forget something

                          Comment


                            Date Discharged:10/6/2010
                            Lender:Capital One
                            Date Applied For:9/15/2011
                            Approval Amount:25,800
                            Interest Rate:7.74%
                            Term:72 months.
                            FICO 62
                            Car 2012 Honda Accord
                            Payments 374.24
                            Here is the crazy thing.

                            Before chapter 7
                            Date Discharged:
                            Lender:Chase
                            Date Applied For:
                            Approval Amount:
                            Interest Rate:10.5
                            Term:72 months
                            2008 Honda Civic
                            395.78 per month

                            Comment


                              Date Discharged:11/4/2010
                              Lender:Americredit
                              Date Applied For:9/17/2011
                              Approval Amount:15,000
                              Interest Rate:12%
                              Term:66 months.
                              FICO 624

                              Comment


                                Date Discharged: 4/1/11
                                Lender: Ford Motor Credit
                                Date Applied For: 10/7/11
                                Approval Amount: $30,999
                                Interest Rate: 9.9%
                                Term: 72 mos.

                                We actually went the Cap1 blank check route first, but were surprised to have Ford do better for us on a new Flex. Our credit score actually went up from 648 on Oct 5 to 671 today on Credit Karma with the auto loan reporting. (Probably shows the payoff of our reaffirmed trade too.)

                                I'm astounded it was that easy. It certainly blows apart the myth that a BK will destroy one's credit! (We were at about 580 when we filed Ch7.)

                                Definitely loving the new car too!
                                Chapter 7 Filed 1/4/11
                                Discharged No-asset 4/1/11
                                And definitely NOT an attorney.

                                Comment

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