Established Member
Posts: 20
Registered: ‎09-16-2010

Advice for Auto Loan

Hello Everyone,


I had a bankruptcy that discharged last July, which included a reaffirmed car.  I have since acquired 3 cc's which I pay on time.  The car that I have now my husband and I have to share, which was no problem up until my job location changed.  Before, my husband and I worked 2 blocks of each other.  The car loan is in my name which I have $7,000 which my husband pays the note and insurance.  I know need a vehicle and I did apply for credit through my credit union which I was denied. My credit scores have not hit the 600 mark as of yet.   Is it really difficult to try and get approved for a car loan after my bankruptcy.


Thanks for the advice.

Starting Score: 430
Current Score: 519
Goal Score: 640

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New Contributor
Posts: 118
Registered: ‎06-10-2011

Re: Advice for Auto Loan

There are companies that finance to people with credit scores that aren't favorable but it will cost you ie high APR, possible down payment, and monthly payments.  However once you have that vehicle and have paid on it for 6-12 months (maybe less, not sure) you can refinance it for better terms.  Hope you get what you're looking for :robotwink:

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