I don't know where you live, but the deal I received on my car was very good. It is only one year old and Honda certified which also means the manufacturers warranty has been extended, so I powertrain and bumper-to-bumper coverage is still there. Continue to educate yourself and learn to be more disciplined when it comes to finances not the fearful mindset that many develop. Oh yeah, I was able to drive off not paying anything but the $1200 down payment was due 30 days later and the sticker price was what was expected looking at other dealers and KBB. But, I can't stress continual education in regards to finances and being very disciplined.
I was told to purchase a car after discharge, I'm waiting on discharge papers now so that I can buy me a new car but idk how long I should wait, I'm driving an old car I bought cash bc I let an old car loan go in bk bc the interest was high and the car wasn't worth the amount I owed ($9,300) for a 2004 chevy malibu with 150k miles! But I want to purchase new but idk what kind of deal I will get post discharge.
I am in the same position as you. My discharge is in about 3 weeks give or take. I would not buy during BK...wait until discharge. It is a lot harder to get a loan during BK and more than likely you will pay a higher interest while in BK. My mom has a score of 580 with BK7 (2 years old) and she got a new Ford and used Wells Fargo at 9.9%...at first they told her 17% she said no and argued.... 20% is ridiculous and you do not need to be in another position where you are in too much debt. I know you need anothher car...believe me. I have 3 kids (one is an infant) and a husband in a small sedan with exhaust leak, oil leak (just fixed) and no AC with 122K miles. Trust me...I feel your anxiety towards needing a new car but be patient and shop around first through banks and credit unions because you might get a better APR. Don't buy on impulse because you will later regret it.
A car dealership offered to help me get a car. They told me they can do it once I file for bankruptcy. They said that's their speciality. It's sounds a little strange to me. I have filed bankruptcy yet but but I do plan to do so by next month no later than July. Has anyone bought a car during bankruptcy???
Yes I did, but avoid it if you can because the fees and interest rate were awful.
Well post discharge I did not get approved for any car loans, too many car dealership ran my report. So now I'm going back checking my reports making sure every owed amount is showing discharged. Looks like I may have to wait a year to try a car loan again.