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Putting Money Down

New Contributor

Putting Money Down

Do you always have to put money down when financing a vehicle after bk?  Is that the norm?  And how much?  I am just trying to prepare!! 

 

Thanks!

BK Filed 7/1/12 --- EX: 494 EQ: 505 TU: 505
10/12 EX: 599 EQ: 599 TU: 599

BK Discharge 10/23/12
Cap1 $3000 (AU) / NFCU Visa $500

GOAL #1: 660
Message 1 of 4
3 REPLIES
Regular Contributor

Re: Putting Money Down

When we purchased a vehicle for my wife a few weeks ago they asked for $1700 down.  This was just before our 341 meeting.  I believe it's  usually 20-25% percent, but YMMV. Me personally, I would love to finance with no money down.  The odds are against free off a chapter 7, but I'm going to do my best.

Message 2 of 4
New Contributor

Re: Putting Money Down

20-25%?  Great Caesar's Ghost!  Guess I'll be on my bike.

 

I am going to try a Cap 1 blank check.  I financed a car through them awhile back and it was paid satisfactorily.  Maybe they will give me a chance.  Where did you get financing through?

BK Filed 7/1/12 --- EX: 494 EQ: 505 TU: 505
10/12 EX: 599 EQ: 599 TU: 599

BK Discharge 10/23/12
Cap1 $3000 (AU) / NFCU Visa $500

GOAL #1: 660
Message 3 of 4
Highlighted
Regular Contributor

Re: Putting Money Down

I forgot the name of the company.  It was less than 20% because the vehicle was $20K I believe and we got $1K for a trade in and paid $700 in cash. 

Message 4 of 4