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In need of a car loan NOW

Valued Member

In need of a car loan NOW

Hello Everyone, This will be my first post here. I would love all your comments and replys. So on June 14 2012 I filed personal bankruptcy in the Eastern District of New York. Everything was overwheling and my business at the time was faling he is the information in the bankruptcy:

 

Mortgages: First Mortgage : 1,765,231.12 

                     Second Mortgage:245,987.23     

                     Home Equity Loan: 61,563.74

 

Credit Cards/Personal Loans

Amex 23,658.14

Amex 9,568.65

Bank of America 17,896.19 

Bloomingdales/DSNB 11,263.85 Wife 

Bloomingdales/DSNB 14,596.45 Me

Capital One 10,563.04

Capital One 5,496.87

Chase 31,569.12

Chase 12,368.67

Chase 24,165.32

Citi Cards 16,584.96 

THD/CBNA 27,895.23

Discover 3,596.42

GECRB/ Lord & Taylor 6,598.73

GECRB/ P.C. Richards & Son 9,785.61

GECRB/Lowes 12,695.74

HSBC/ Saks Fifth Avenue 18,456.28

HSBC/ Neiman Marcus 13,596.24

TD Bank - Touraneu Watch 9,854.19

Tiffany & Co 35,698.74 

Nordstrom FSB 7,459.86

Wells Fargo - Breast Implants 11,859.63

 

Car Loans/ Leases

2011 Mercedes-Benz E550 4MATIC Sedan - Leased : Surrended 

2011 Cadillac Escalade SUV Luxury AWD - Financed : Surrended Balance: $51,263.91

2012 Mercedes Benz C250 Coupe - Leased: Retained (Daughters Car)

 

Self - Employed : Check Cashing: Annual Income 2011 $483,560.00

 

I had to surrender personal assets such as wedding bands, rolex watch, furniture, piano, sub zero refrigator, wolf range, hunting rifles, cash, tiffany diamond, womens wearing apperal and much more. 

 

My Credit Scores now TU: 477 EX: 515 EQ 493 

Credit Cards: Capital One Visa : $2,000 , Credit One Visa $1,500

 

I need a car loan now because both of my cars were retained except for my daughters but my wife and i need a car Any help ? Please comment? Is therea chance of leasing 

 

Thanks So Much 

Message 1 of 20
19 REPLIES
Regular Contributor

Re: In need of a car loan NOW

Ouch, sorry to hear about your situation. Likely the only way you will get a card in the near term is by buying cash. Pickup a 2k. Car for the next year until you have established your credit again.

Message 2 of 20
Valued Member

Re: In need of a car loan NOW

I know im very upset at the situation. I was lucky enough to have my father lease me a BMW 750i xDrive but thats for the wife. I mean buying myself at 2K I don't know if i can do that i mean with my wife everything is luxury and having a 2 million house with a 2,000 car wouldn't look nice . thank u for all u help i think im going to look at a 2009 cadillac escalade and pay cash 

 

Thanks again 


Cellice wrote:

Ouch, sorry to hear about your situation. Likely the only way you will get a card in the near term is by buying cash. Pickup a 2k. Car for the next year until you have established your credit again.


 

Message 3 of 20
Regular Contributor

Re: In need of a car loan NOW

Well if you have cash to buy a more expensive car our right go for it. I only said 2K since most people fresh out of BK wont have the kind of $$$ to buy an expensive car for cash. If you can have your parents co-sign on another car that will be an excellent way to start rebuilding your credit.

Message 4 of 20
Member

Re: In need of a car loan NOW

Good luck. I am 6 months out of my BK and am re-establishing credit. I have NOT been able to get an auto loan anywhere! Even roadloans/santander have denied me credit. It's impossible to get a loan. I wish I never went through the BK...

My list of non BK friendly auto loan lenders: Ford,Toyota,Nissan,Kia,Chase,Santander/roadloans,Americredit,Wells Fargo,BofA,Orange co Credit union,TD auto

Message 5 of 20
Valued Member

Re: In need of a car loan NOW


VegasTeo702 wrote:

Good luck. I am 6 months out of my BK and am re-establishing credit. I have NOT been able to get an auto loan anywhere! Even roadloans/santander have denied me credit. It's impossible to get a loan. I wish I never went through the BK...


Me Too but when u have over 4 million in debt I had no choice in order to up keep with my house and cars and credit cards i am lucky enough to have my father lease me a BMW 750i xDrive for 1,211.63

Message 6 of 20
Member

Re: In need of a car loan NOW

Yea you are lucky. Glad to hear you have a nice ride. My sister lets me borrow her car for work but it's a money pit. I've tried to save for a down payment but spent most of my down payment repairing her car. It's an endless circle...

My list of non BK friendly auto loan lenders: Ford,Toyota,Nissan,Kia,Chase,Santander/roadloans,Americredit,Wells Fargo,BofA,Orange co Credit union,TD auto

Message 7 of 20
Valued Member

Re: In need of a car loan NOW

I hear ya Thats why u are better off spending the money on a good car or you gonna have to spend it repairing 

do u have a cosigner?

Message 8 of 20
Member

Re: In need of a car loan NOW

No co-signer, only $1k down.

My list of non BK friendly auto loan lenders: Ford,Toyota,Nissan,Kia,Chase,Santander/roadloans,Americredit,Wells Fargo,BofA,Orange co Credit union,TD auto

Message 9 of 20
Valued Member

Re: In need of a car loan NOW

Really AmeriCredit they give loans to anybody by brother brought a mercedes gl450 and had a BK7 2006 got the loan with only 9% Income: $125,000

Message 10 of 20