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4 months out of BK & was successful

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    4 months out of BK & was successful

    I just wanted to give some advice and hope for car buying after bankruptcy. I filed bankruptcy and was discharged 7-4-2013 from Chapter 7. Prior bankruptcy I was 807 credit score but a house forced me to file and get rid of bad debt due to economy and housing market.

    I went yesterday and was approved through Alley Financial at 13.8% interest rate on 72 months (4 months out of BK). The car was listed at $19,900 and was $17,300 out the door (gap insurance included) after hours of negotiations. Before anyone attacks me for interest I have cash to pay the car already and am financing for 6 months to further raise my credit score.

    My credit score was a 588 and again I am 4 months out of BK discharge and was approved at 13.8% interest rate for 72 months. I plan to pay off quickly and just help my credit score to be prepared in 2 years for another home purchase.

    My financials were again 588 credit score and I make about 90k year. I wanted to post this to give others hope since I have spent hours of research on this site after filing chapter 7 and maybe give others hope. I also want everyone to know if I didn't have the cash to pay off I wouldn't have purchased but I did this to help my credit and prepare for a house payment down the road.

    Hope my thread bring some hope and knowledge as I received from others! Good Luck

    Oh btw I also bought my car for less then trade in value and hooded out for the perfect deal!

    2008 Ford Edge Limited for the wife was the car FYI

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