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Established Contributor
Posts: 1,021
Registered: ‎03-16-2012
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Re: Auto loan after chapter 7

That's very encouraging ... I was really discouraged today after Hyundai dealer told me I am only eligible for a used car.... It made me really sad and frustrated cause I don't know who will ever approve me with bk... Made me question my decision of not reaffirming ... I'm about to try Nissan and ford tomorrow... 😶

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Regular Contributor
Posts: 127
Registered: ‎11-02-2015
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Re: Auto loan after chapter 7

If you haven't burned Honda, try your local Honda dealer.  Each dealer will be different, I had a VW dealer try to double tag team me into buying a used car with 99,990 miles on it.  NO Freaking way.  It was scary and frustrating but I held my ground.  Went to a couple of Ford dealers, one tried to do a trade in which got rejected by Ford and other lenders.  Another Ford wouldn't even finance me a used Ford Fiesta.  KIa wouldn't even touch me with my low scores.

I felt discouraged, disgusted but I got a call from a Honda salesman who I had talked to while waiting for my discharge.  By that time I was like no way will they help but I went I was glad I did.  Both the salesman and finance manager treated me like a human being, they didn't jerk me around.  I test drove a 2015 Grey Honda Civic Coupe LX but they informed me that they could get me into a 2015 Silver Honda Civic Coupe LX that had been on the lot for 45+ days.  So I was able to get a great deal that I will be able to refinance in about 6-12 months at a lower APR. 

 

BK Discharge Nov 2, 2015

CS Nov 2--Sept 83
EQ 513--636
TU 481--610
EX 483--637

Frequent Contributor
Posts: 469
Registered: ‎10-25-2015
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Re: Auto loan after chapter 7

@kobe2012, are you in Northern CA? A friend of mine works at a local Ford dealership, I called and was approved for a new Explorer (but thinking about it still), and I have another buddy who is a finance manager at a local GMC dealership, who said he can get me approved for a new GMC. Also, a friend who works at a local Honda dealership. If you want an Acura have connections too.
BK CH7 (09/15) - TU 439 : EQ 459 : EX 440
Discharged (12/15)
Established Contributor
Posts: 1,021
Registered: ‎03-16-2012
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Re: Auto loan after chapter 7

I'm in SoCal... I saw that Exeter, and americredit pulled my credit. Guess they denied me as well.. I was so confident I can get a new car since I don't have any bills anymore but didn't know it's gonna be this difficult... 🙁... I'm thinking if I should just use my dad or my sisters old car for 3-6 months and try again... Would my chances be greater then??

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
New Contributor
Posts: 57
Registered: ‎11-04-2015
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Re: Auto loan after chapter 7

Does anyone know if Prestige is guaranteed financing? Ive tried Avis car sales, Roadloans, and DCU auto loan. All denied.
Ch 7 Pro Se Discharged 12/1/15
Fico 5/8 TU635 EQ625 EX650
Frequent Contributor
Posts: 469
Registered: ‎10-25-2015
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Re: Auto loan after chapter 7

Do you have prior repo's or prior lates being reported for car loans?
BK CH7 (09/15) - TU 439 : EQ 459 : EX 440
Discharged (12/15)
Established Contributor
Posts: 1,021
Registered: ‎03-16-2012
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Re: Auto loan after chapter 7

No prior repo or at lates all.. On any of my accounts including auto I've only had my car for 3 years though prior to filing...

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Frequent Contributor
Posts: 469
Registered: ‎10-25-2015
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Re: Auto loan after chapter 7

What the gal told me from Ford is wait until the credit report indicates discharge, and all items on credit report indicate such.
BK CH7 (09/15) - TU 439 : EQ 459 : EX 440
Discharged (12/15)
Established Contributor
Posts: 1,021
Registered: ‎03-16-2012

Re: Auto loan after chapter 7

I finally got a car! Toyota Camry se 2016! Thru my dad's credit .... Lol.. I gave up using mine .. I'll just rebuild for now.. He got 0% financing for 60 months thru Toyota... His score was 712... Very easy to get approved for... The finance manager said as long as your score in the 600's you should be ok and that they'll work with you... Problem solved for now.

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Valued Contributor
Posts: 1,884
Registered: ‎09-20-2011
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Re: Auto loan after chapter 7

It's not hard at all.  I included two vehicle in BK.  Four or so months after I got a 3.9% from Mazda for 72 months.  Downpayment is key.  With no payment it was a no go.  With $5k down on a 25k loan they couldn't print the paper fast enough. 

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