Re: Denied Auto Loan- 4 yrs after bankruptcy
09-29-2007 02:23 PM
Hi, I got a brand new Honda Civic last August (I was 3 years out of BK then), through Honda Finance through the dealership. At first the dealer got me approved thru Cap One at 14% (which was less interest than I thought I might have to fork out). But the next day the Finance Mgr told me he had good news for , that they got me approved thru Honda Finance instead at 8%! This did have alot to do with the large down payment I made. ( I was saving money for while just for this purpose in hopes it might help me to put down more money). I put down $7000 on a $22,000 car. And now, just over a year later, after paying extra money each month over my amount due, my amount due now is just $176.00 versus $299./month when I started. I'm going to keep sending 360/month now and will end up paying it off in half the time.