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Awaiting Discharge - Need New Car

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    #1

    Awaiting Discharge - Need New Car

    Ok, I am waiting for discharge after filing bk for a failed business.

    Does anyone know of an auto lender that will loan someone post bk on a nice new vehicle post bk and how soon. I will have a co-signer that has 750+ credit scores, can someone point me to a lender that operates in Texas?

    Thanks,

    TD
    Tags: None
    #2
    The moment you are discharged you will be able to get financed. You will have to pay a higher than normal interest rate. You may be better off having the person with 750 score (a+ credit) sign as the primary and you sign on as the secondary. With her score she will definitely get a good rate and they will probably not even take your score into consideration. My brother( a banker) says that companies like AmeriCredit, Transsouth, Road Loans, Capital One, and others will gladly finance you because of the money they will make off the interest.

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      #3
      Ameri Credit is based out of Texas.

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        #4
        Thanks for the advice. One thing is how much of a car will they let me finance. I am thinking about getting a new tahoe.

        Comment

          #5
          Originally posted by killagruv
          Ameri Credit is based out of Texas.

          Yup.
          And you'll have a 15% interest rate or HIGHER more than likely.....
          BUSY running my own credit repair services! Sorry I don't stop in so often any more!

          Comment

            #6
            "How much" will depend on your income... That isn't anyone can answer here. One thing is for sure-you'll be better off if you look for something used. A 2 year old vehicle can easily be 1/2 of what you'd pay for something new.
            Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.

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              #7
              well, 2 years maybe not half. but a 5 year old can be a lot cheaper for sure.

              take a honda accord perfect condition 1999-2000 goes for 8K private seller. and thats a honda.
              Im not an attorney or a trustee. You cant trust me either though!

              [x] - Done with 341? Join the 60 Day Club! ___________[x] - Im Discharged! Whoo Hooo!
              [x] - Poll: Should I File Pro-Se ____________________[x] - New BK Law: Median Income, Means Testing and Presumptive Abuse
              [x] - Zombie Debt Collectors Dig Up Your Old Mistakes _-[x] - Bankruptcy Law Resource
              [x] - Need A Fast Answer? Available 24/7!--__________[x] - Dont Be A Hero On Your Budget - You Wont Get An Award!

              Comment

                #8
                I am currently in a 2.5 year old car, so I understand that. I make excellent money, but had a buisness fail and a buisness partner screw me out of BIG bucks so I am now in this situation. Income is in excess of 7500 monthly.

                TD

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                  #9
                  you got a chapt 7 discharge with a disposable income of $7500?

                  even if that was $750 its still amazing. how did you accomplish that?

                  or did you say you were almost out of a chapter 13?
                  Im not an attorney or a trustee. You cant trust me either though!

                  [x] - Done with 341? Join the 60 Day Club! ___________[x] - Im Discharged! Whoo Hooo!
                  [x] - Poll: Should I File Pro-Se ____________________[x] - New BK Law: Median Income, Means Testing and Presumptive Abuse
                  [x] - Zombie Debt Collectors Dig Up Your Old Mistakes _-[x] - Bankruptcy Law Resource
                  [x] - Need A Fast Answer? Available 24/7!--__________[x] - Dont Be A Hero On Your Budget - You Wont Get An Award!

                  Comment

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