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Are there any blank check auto loan lenders out there that will provide loans to someone who was discharged from a BK in the last 4-5 months? I am looking for a used car that would be from the years 2008-2010. I was preapproved by Capital One but the dealerships that I have seen the particular car I want are not on their dealer list. I'm looking at a car that costs around $18k-$19k and I will put down $5k. DTI 31% on my income alone. If I add my wife's income it is 25%.
Well it turns out after some research the delaership I was looking at did take Cap One. The thing was the dealer changed names and the Cap1 website had the old name. Only issue is the car was not what I wanted. So I'm back to waiting to find the right car.
@cartwrna wrote:
Lending tree is a bad source, they shotgun your credit out to many lenders causing a ton of un needed hard pulls. They don't directly loan themselves, they're just a middle man.
+1 Lots of hard pulls and all you are is a lead for lenders. Not worth it IMO
I suggest a credit union. DCU has a good reputation and is easy to join but most any credit union is going to be better than getting financed through a bank.
I joined a local credit union before I knew about DCU. I don't know if they will provdie a loan for me less than a year after my discharge. I will have to cross that bridge in a month or two.
Are you looking for a new car or used? If used will your CU provide a loan for independant dealers?