Reply
New Contributor
4us-
Posts: 90
Registered: ‎08-06-2012
0

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
Regular Contributor
coreyb80
Posts: 107
Registered: ‎07-26-2012
0

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.

New Contributor
4us-
Posts: 90
Registered: ‎08-06-2012
0

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
Regular Contributor
coreyb80
Posts: 107
Registered: ‎07-26-2012
0

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. 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}