Get a Car with a BK7 on file - Who should I targer?

[whydoineedaname]

So I am now 14 months out of my BK7 and am looking to get a new car (pickup has to go as the family is growing).

Who do you think would be be best to target car applications.  I want to get approved before going to the dealers.

My credit profile is below in the signature with the addition of about $38k in student loans and upper 40's lower 50s for yearly income.

My current credit union wants me to be 24months out before they will work with me.

[0REDSOX7]

You should have no issue.

I got two cars five days post BK with a 568 score at 12.99%.  I got 20K per loan.

What kind of car you want?

[whydoineedaname]

We are looking for a newer used, something with gas mileage.

We want the interest to be a bit lower than that.  I am not worried about getting approved I guess but getting a good rate.

[Remember0]

Personally I'd try maybe Cap One first and see what they approve you for.

[whydoineedaname]

I burned a capital one credit card in the BK7 do you think that would matter much?

[Remember0]

As far as I know, COF does not hold grudges. I really don't think they will hold it against you. I'm not 100% sure though.

To answer your original question, if you wait for 24 months, I do think you'll possibly get a lower rate. But even now, I think you'll be able to get <10% ultimately given your FICOs after you get approved on your own + get the dealer to eventually compete. It's up to you whether you want to wait to get it even lower. Keep in mind that you can also buy now and refi later, but if you do that, you need to keep depreciation in mind (you can only refi up to 100% of NADA Retail typically...the difference you need to bring cash to the table).

EDIT: In the other thread, I see you have an in with Navy. I'd recommend Navy over Cap One to be honest. Worst case, you end up with a valuable membership to a CU even if they deny the auto.