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

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    Originally posted by stanpendula View Post
    Loan 1 - not accepted
    Date Discharged: 7/7/2011
    Lender: Obscure dealer deal (not disclosed by dealer)
    Date Applied For: 12/28/2011
    Approval Amount: $21,400
    Interest Rate: 10.33%
    Term: 72 months

    Loan 2 - still have the check - not used
    Lender: Capital one
    Date Applied For: 12/28/2011
    Approval Amount: $25,000
    Interest Rate: 5.95%
    Term: 60-72 months

    Final Deal from Dealer's Own Financing
    Lender: Hyundai Financial ...
    Date Applied For: 12/29/2011
    Leased a 2012 Sedan for 36 Mo for $300/mo with 0% interest and $1,000 down

    Credit scores all over the high 600 range, up from low 500 after discharge. Both me and my wife got unsecured CC's with HSBC and Orchard Bank, respectively for $1,000 each.


      Since we don't have a high speed rail system at our disposal we had to buy a car post discharge.

      Capital One, 9.9%, 48 months.

      To appease HHM, we did a 23% downpayment, our car payment is 5% of our monthly gross (combined with our ride through vehicle we are at 11% total).
      Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick


        Originally posted by OhioFiler View Post
        To appease HHM
        Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15


          Originally posted by mountanddo View Post

          Yeah, nothing wrong with HHM's advice, but appeasment may be a bit much to expect!

          Well done OhioFiler! It's unlikely you will end up behind the eight ball again by sticking to such ratios.
          Chapter 7 Filed 1/4/11
          Discharged No-asset 4/1/11
          And definitely NOT an attorney.


            Originally posted by OhioFiler View Post
            To appease HHM...
            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.


              Some of y'all don't know I have a sense of humor. ;-)
              Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick


                I like appeasement

                Good to go on the 5% of monthly gross for your car payment. Now, keep the car for 10+ years


                  [QUOTE=gacreditguy;67771]Starting a new thread so that we all can start a 'database" of sorts for us BK'ers to review and go to when we are looking for the next vehicle.

                  Please post the following info:

                  Date Discharged: 2/2011
                  Lender: Hyundai Financial
                  Date Applied For: 1/2012
                  Approval Amount: $23,000
                  Interest Rate: 6.25
                  Term: 72 months

                  Creditkarma score was 697. Put $3k down. Honestly never thought I would be approved this soon after discharge.


                    Date Discharged: November 2010
                    Lender: Capital One
                    Date Applied 2/2012
                    Approved Amount: 24,000
                    Interest rate: 7.31 on a 2011 or newer, I'm buying a 2008 so it's 8.32.
                    Term: 60 months

                    I'm buying a Certified Pre-owned car. The dealer worked on financing and got a loan approved for $18,300 through Wells Fargo for 7.99% for 60 months.

                    CapOne provided a credit score sheet with my blank check and my Experian score was 619. My CK score is 660.

                    I work in the auto industry and have read recent reports that many lenders are getting much more competitive with financing. They're buying deeper and buying more deals, so, if you need a car, there's hope for us working our way back up the credit ladder. Good luck.


                      Date discharged:2/7/2012 chapter 13
                      Date Applied:2/18/2012
                      Lender: GMAC/ALLY
                      Amount Approved:$26000 Chevy Equinox AWD/LT1 (total Financed was $31000)
                      Term: 72 months
                      Down payment: $3000
                      Rate: 6.9%
                      Monthly Payment:$434.00
                      Credit scores(auto): Mine 560 Wife 613

                      Before I started going to the dealerships to look at vehicles I applied for the Cap One auto loan online and was turned down because I had a bankruptcy on my report.

                      The 1st place I went to look was at a Kia dealership for a Sorento. The guy comes back and says, "we got you approved with $5000 down and a payment under $700." The Sorento I was looking at was the same price as the Equinox we ended up buying. When I asked how much under $700 was the payment, he told me, "I don't get that info until we do all the paperwork. I told him we would let him know, that we were going to test drive some other vehicles. I drove about half a mile down the road and he calls me and says they reworked the numbers and got the payment in the mid $500's. I said ok I would get back to him later.

                      We went to another Kia place and they took forever to get anything done. And the biggest complaint was that the salesman went with us on the test drive. I always said if they did that I would not buy a car from them. Anyway, they tried their best to talk me out of the model I wanted because they didn't have it on their lot. That really got to me also. When I told them I was going to go test drive some other vehicles they said, "well don't have them run an application because it will screw up this deal, just tell them you are looking but not buying." That was the last straw. We left and went straight to the Chevy dealership that we normally use. My wife is related to the salesman that we have used for at least 5 vehicle purchases. He has always done us really great deals.

                      We where 1st approved thru Americredit with no money down for 11.9%, GMAC/ALLY intially turned us down. When I asked if a down payment would lower the rate he said he would get the finance manager to call GMAC/ALLY back and talk to them. After having 5 loans with them and the finance manager talking with them they approved us at 6.9%. Which made out payment drop from the 490's down to $434.

                      I was completely floored with not only getting approved but at the 6.9% rate. I told my wife next time we would just go straight to the Chevy dealership and not have the hassle.

                      Btw I was also able to use a discount from work to get the car at a preferred price, saved a little under $1000 with that.

                      So there really is hope to those that are looking.


                        the biggest complaint was that the salesman went with us on the test drive.
                        Maybe things are different in various parts of the country, but I have never lived in a place where the salesman didn't come with you.

                        But in general, getting a car after BK is relatively easy, yet it is one of the biggest fears of debtors going into BK...losing the car, not being able to get a car, etc.
                        Last edited by HHM; 02-19-2012, 08:22 AM.


                          Date Discharged: 10/7/2008
                          Lender: Wachovia Dealers Services
                          Date Applied For: 5/30/2009
                          Approval Amount: $30,481.50
                          Interest Rate: 7%
                          Term: 66

                          Vehicle: 2009 Toyota Venza


                            Very excited! I just refinanced with Capital One.

                            Date Discharge: May 2010
                            Lender: Capital One
                            Approval refinance: 9400
                            Interest Rate: 9.9%
                            Term 62 months

                            I save about 10% on my interest rate, which comes out to $35 per month over what I was paying with Santander.


                              Hi, I've been reading these forums for months and just wanted to let everyone know our good news. My husband and I are less than 3 month post discharge and we were just approved for 6.35% on a new car online. Really shocked considering this is half of what the interest rate was on our previous car. We have a pretty good auto loan history, only one 30 day late back in 2009, and a previous loan with perfect history. Credit score I believe are in the mid 600's.

                              Date Discharged: 12/20/2011
                              Lender: Capital One (Blank Check)
                              Date Applied and Approved: 3/06/2012
                              Approval Amount: $22800
                              Interest Rate: 6.35-8.37%
                              Term: 72 months


                                For some of those that didnt know, I had to buy a car about 10 months ago(in the middle of my bk being converted) and was only able to get approved at a "buy here/pay here" lot. The rate was atrocious(30%) and long term it doesnt make sense. I recently applied online via Capital One, and this is what I got

                                Date Discharged: November 2011
                                Lender: Capital One
                                Date Applied 2/2012
                                Approved Amount: 20,400 - using 17,600
                                Interest rate: 12.60
                                Term: 60 months

                                EQ Fico 537
                                Ch 7 filed 8/15/11 341 9/22/11 Discharge 11/28/11
                                The rebuilding begins


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