Auto Loan after discharge

[woodbk]

My husband and I are waiting for our discharge papers and want to buy a new car as soon as everything is final. We are dying to know what we might be looking at in the way of an interest rate and how much we may get approved for. We see all these dealers that say they will get you finance no matter what the credit, but at what cost and will it be a pile of crap. Has anyone bought a car recently good or bad experiences welcome.

[bkfiler]

use the search function on this site to find postings from others.

yes you will get a bad APR at first most likely. but you wont know until you try. those people that send out those flyers are very bad.

the longer you can wait the better. try buying a used car from a local private person if you can and wait until later to get a nicer car.

start building you credit with a few cc to improve things if you dont have any.

[ana]

State: FL
A Ford dealer got me a loan through CitiBnak at 14% for a 2006 Focus. They used the $2000 rebate for the down payment I told them that I had not received my discharge papers and did not expect to receive them for two weeks. I was told by the time the lender got the papers I would be discharged and they had 3 lenders that would finance me. I was totally upfront about the BK.
I am discharged now and I hope to refinance for a lower interest rate in 12 months. I usually keep cars for a very long time. My old car would have cost more to repair and it was easier for me to get a car loan than a loan for repairs. My car is paid for and I could not get a secured personal loan using the car for collateral. I am now trying to sell my 1997 car to someone. It will be a great deal for a mechanic since he would only have to pay for parts. Whatever I make from the sale I am going to apply to the principal of new car.