wow... why to reaffirm your car

[ryanr623]

I filed a year ago and never missed a payment before, during or after bk. I am looking for a new car. I didn't know it was possible but toyota financial, who is notorious for not even looking at people with bk's.... gave me a 2.9%. I am soooo happy and surprised. My only thoughts is that is because I never missed a payment on my car.

Credit
Eq - 638
Ex - 644
TU - 552? Which they pulled as well. Still have no idea why this is so much lower

[IBroke]

I filed a year ago and never missed a payment before, during or after bk. I am looking for a new car. I didn't know it was possible but toyota financial, who is notorious for not even looking at people with bk's.... gave me a 2.9%. I am soooo happy and surprised. My only thoughts is that is because I never missed a payment on my car.

Credit
Eq - 638
Ex - 644
TU - 552? Which they pulled as well. Still have no idea why this is so much lower

Congrats!

There you have it. All those stories that a BK itself prevents you from getting a (decent) car-loan is just hot air...

[AngelinaCatHub]

That is great. Be wise and stay in that, you know, "New Start" budget. Don't get carried away as we don't want to ever see you here in 8 years (except to help others, of course). 'Hub

[mommi2many]

That's good to know. Thanks for sharing your story. I will be in you same boat in another year. I am not reaffirming my car, but I also have not missed a payment and don't intend on it.

[ryanr623]

Yeah for sure. I figure the banks may be hurting a little bit right now as well. When I signed the papers, the total amount in interest i am gonna pay, for a $20,000 truck, is $1200..... they are taking a chance on me for 1200 bucks? Confused, but happy