Question about the fresh start auto loan program.

[pris72]

Have any of you gone through the fresh start program? I just filled out some info online, and it says that local dealerships who deal specifically deal in these type loans will contact me tomorrow. I just want to make sure before I go ahead with this any further that this isn't some loan with a huge interest rate. I am in Ga, and I couldn't find specific dealerships who deal in these loans. I'd try finding them online, and all I would get are website wanting more info to have someone contact me. Thanks for any info you can give me. I am wanting to find a used auto in the $15,000 range that is no older than a 2006 model with less than 60,000 miles on it. Hoping for a small to mid sized SUV, but I will take whatever reliable transportation I can get for now, to help build up my credit. My fico score has jumped up 60 points in the past 2 months, so that is a plus.

[backtoschool]

Fresh Start loans are high interest rate loans. Expect the loan's interest rate to be in the high teens.

Most dealers will have a finance partner that deals in post-bk financing. Your first loan will be high interest rates but you should be able to refinance in less than a year or in a year at the most if your credit score keeps improving and you are always on time with payments, etc.

[pris72]

Fresh Start loans are high interest rate loans. Expect the loan's interest rate to be in the high teens.

Most dealers will have a finance partner that deals in post-bk financing. Your first loan will be high interest rates but you should be able to refinance in less than a year or in a year at the most if your credit score keeps improving and you are always on time with payments, etc.

Thanks. That is exactly what I was thinking, as far as having a higher interest rate at 1st and then refinancing later on.I have a car that is paid off, but I keep having so many problems with it. Problems that honestly cost more than what the car is worth. I just want to find something reliable that I can add an extended warranty to, and help restablish my post BK credit at the same time.I plan on going to a dealership that deals in fresh start auto loans this Sat. The closest dealer I could find is about 45 mins. away from me, but atleast it is a major dealership and not a buy here pay here type spot.