Hi all, Im new to this forum, I filed Ch 7, back in 1997. And had decent credit since then. I only have one credit card, and a school loan. How hard would it be to get a auto loan. And what rates would i expect? Thanks Vincent
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We got a Brand New Mini Van 1 month after discharge
and we pay 7.5%.
One of the strategies is to not allow anyone to treat you like you are not worthy.
Certainly after 7 yrs you should be able to easily find a better rate than we have even.[FONT=Book Antiqua][SIZE=3][COLOR=Magenta]
Life indeed goes on happily AFTER Bankruptcy.
Free yourself and be able to live again.
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I've heard Ford offers good programs for BK survivors.Comment
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Getting an auto loan after BK is possible. But several factors play a role in ones ability to acquire "good" financing after BK. If you have sustained a solid employment history, have good income, own a home, and never had more than two repos. Getting a auto loan should be relatively easy. But you need to furnish proof of income etc.
If you do not have all of the above in your favor, getting an auto loan can be somewhat difficult - but still possible! You most definatley be required to put down at least 10% and will be offered a sub-prime interest rate anywhere from 15 - 21 percent!!!
See if the affiliates of carloans.com or driverloans.com can locate sub-prime financing for you.
Good Luck!
The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.Comment
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