How long after discharge should i be able to get a car?

[LolaSparks]

I gave back my car back in december of 09' I haven't had a vehicle since. I was wonder what is about average for the amount of time after discharge that i would look in to get a a new car. A Ford Fusion Hybrid to be exact ( It's the car I want, and the car i am going to be getting, when i can (don't want to hear the negatives))

I am expecting that i will get a discharge in June, as my 60 days after 341 is 6/20. No I am not planning on going out the day after for a car, but to save up and what not so i do have a down payment.

I just want to know about when a good time period after bk is to get a car. Thanks!

[LadyInTheRed]

Well, you can probably get a car loan right out of bankruptcy, but the interest rate would be sky high. If you could wait 7 years until the BK will drop off your credit report, that would probably be the best way to get good rates. But, you don't need to wait that long. How soon you can get a decent rate, probably depends on what your credit history looked like before filing. The longer you wait, the better rate you are going to be able to qualify for. For some reason, 2 years seems like a good time frame. But, I may be thinking about how soon you could qualify for a mortgage. I am sure others will tell you about their personal experiences.

ETA: I suggest you set a goal for a down payment. When you reach the goal, go find out what kind of financing you can get. If you don't like what you find, keep saving. Eventually the combination of the time and the amount of down payment will bring acceptable financing terms. Who knows, maybe you'll end up saving enough cash to buy the car outright.

[LolaSparks]

I'm pretty sure I won't be waiting until I'm 30 to get another car. Considering, where i live, in order to be able to go to a from a job, i would need a car. SO, there being i'm trying to figure out how long i would have to wait until after i get a job ( been unemployed since having to give my car back in 09' and having to quit my job because I couldn't afford to get to my job because my hours were cut and i couldn't make my car payments. lovely circle) and get a new car. I know that i won't get the best APR but, When i got my first car i had only had credit for 6 months and i got a 6.5%apr on my car. I'm not sure what my credit was before filing, all i know is it was my only choice out of debt and not having a job.