Here is my update.
With my loan approval from Capital one, I am happy to report that I just purchased a brand new Chrysler 200. I have been looking at them for a while and with so many incentives and my down payment, I was actually able to switch terms with Cap.1. Yes, that's right, even after just getting my discharge and being offered 7.21 for 72 months, I called them and asked if they could do better if I went 60 months instead and they dropped it one whole point!!!
Here are my final details.
2012 Chrysler 200 limited
MSRP - $28,100 (loaded v6 with sun/sound pack, remote start, all chrome, leather)
Invoice - $26,950
My Price - $25,725
Chrysler cash - $3500
Dealer Incentive - $750
My down payment - $1475
Final amount Financed:
$20,000 @ 6.21 for 60 months = $388.61
I am so excited and thank all of you who have posted your stories and want to let everyone know that it is possible to get a good rate just after a BK7.
Congrats! I can share the feeling of joy I felt afte rmy BK7 discharged, as I waited about 5 months before looking for auto financing. Cap One had given me a CC 2 months prior, and I too was hopeful that I would get approved. Their auto loan reps are much more customer service oriented than the CC imho...
Capital One is one of the largest bank holding companies which specializes on credit cards and loans, and I heard most of my friends have tried their refinance and auto loan services which they're quite satisfied about.
Congrats! Im thinking about buying a new car soon and these success stories really make me feel better about my situation (also had BK). Hope you enjoy your new car and hope to hear more about the plan throughout the term and if you have an issue with them in the near future.
Roadtorecovery12....I guess by now you know the answer.....that is the rates you were approved for.....I had the same printout and when I recieved my blan check all the finance charges were broken down based upon the rates quoted.....for ex if you purchase a 2012 you will pay 7.21 percent and you will also see the finance charges for the term of the loan. I was approved 3mos w cap one for unsecured cc and one month after bk7 for auto loan. I didn't utilize the blank check as I didn't see a car I wanted in that price range. Good luck with your new car and recovery.