Terms post bk

[StartingOver10]

Didn't string it out - cost me about an hour

[gdale6]

Hi there OP,

Your cross posted thread on this subject has been merged into one here, please refrain from creating more than one thread on a topic in the future it can lead to confusion by the members and its against our TOS. I thank you for your understanding on this.

[Anonymous]

I would definitely try to to get the rate down, that seems really high even with the bankruptcy.  They will often say the interest rate can't be reduced, but if pressured will magically come back with a better rate.  If you haven't already, try capital one, they gave us a good rate right out of bk.  If not like you said you can always refinance in a year.

I would personally take the longer length if the interest rate is the same no matter the term.  I like to consider the worst case scenario and have the lowest payment possible just in case something comes up, you can like you said make larger payments each month.

[SSH0126]

Everyone's circumstances are different. we have been denied by wfds, capital one, prestige, carfinance.com..

he did try and pressure him and he basically didnt care and said if we find another rate elsewhere then we should go there. its not him its the bank. 

[Anonymous]

Check Carvana to see what rate they will give you. It is a SP and the rate is guaranteed.. rates are based off of Vantage scores too. 17.99% is very high.

[SSH0126]

18-20% with higher down payments.. 2k and up depending on the vehicle. they dont do joint..They couldnt pull my info so I can apply again until jan

[SoulMaster]

How old is your BK?  Have you followed steps 1, 2.1, 2.2 and 2.3 of the rebuild guide yet?  Especially step 1.

I ask, because @ 30-60 days post BK7 discharge my clients are seeing 6-12% on CPO cars, tops.

You're also racking up a TON of inq's while you're getting denied, which makes you look desparate (and may lead to more denials).

Personally, I would never advise financing @ 17.99% post BK.  It's your call, but there are much better options out there.

Here's one option, there are others:

If you don't have anythign to drive at all right now, find a $500-$1000 car you can pay cash for and deal with it for a couple months. (You'll get your money back, trust me) 

Do whatever you can to join Navy (or any other credit union that's good).

If you haven't already, do steps 1, 2.1, 2.2 and 2.3, wait @ least 30 days from the end of Step 2.3 so we know that 2.1 and 2.2 report.  Maybe even pay-off 70-80% of the balance of the CB Loan.

After everything is reporting right, go to your CU (or NFCU) and apply for a late-model used car loan

Go shopping w/ pre-approval in-hand, don't tell the dealer you have pre-approval, and negotiate the price of the car as though you were paying cash.

Sell your $500-$1000 car on craigslist.

Again.  That's one option.  Also, for $16K you could get a Porsche Boxter.  It would be old, but it would be way more fun than an Accord!