Question on 2 cars after BK13 which scenario sounds best?

[Anonymous]

So my BK13 is nearing the end, just waiting for the discharge.  I have some money saved but need to purchase 2 cars. Which would be more likely to get decent rates/approval?  I have enough cash for one car outright and need to finace the other, but would I get a better rate or be more likely to get approval by financing one and buying the other or by putting down 50% on each and getting 2 loans?  These are not cheap cars but even if I financed both at 100% payments would be well under 20% debt to income ratio.

[sccredit]

You'd have a better chance of approval (and with some lenders a lower rate) with a large down payment on each

[Anonymous]

So more likely to get approved on 2 loans at 50% LTV than 1 loan at 100%?

[jim44]

Depending on your current income, CH and year of the vehicles some (not all) lenders don't like 2 open car loans at once unless one or more will be joint loans. This is something you may want to talk to your lender about first.  JMHO. 

[sccredit]

If you are buying through a dealer they can use 2 separate lenders at once, both at 50% LTV.

[Creditaddict]

I would also suggest just trying to buy both cars within a couple days of each other and put down 50% on each car.... with car buying it's not uncommon to see so many INQ's so they will just think you have been shopping around, it's not really important to even tell them this is the 2nd car you are buying.