topic Re: Blank check auto loan lenders in Auto Loans

Blank check auto loan lenders

Anonymous — Wed, 03 Feb 2016 00:48:45 GMT

Are there any blank check auto loan lenders out there that will provide loans to someone who was discharged from a BK in the last 4-5 months? I am looking for a used car that would be from the years 2008-2010. I was preapproved by Capital One but the dealerships that I have seen the particular car I want are not on their dealer list. I'm looking at a car that costs around $18k-$19k and I will put down $5k. DTI 31% on my income alone. If I add my wife's income it is 25%.

Re: Blank check auto loan lenders

settleordelete — Wed, 03 Feb 2016 03:27:44 GMT

Hmmm... Lendingtree.com.

Re: Blank check auto loan lenders

cartwrna — Wed, 03 Feb 2016 14:31:21 GMT

Lending tree is a bad source, they shotgun your credit out to many lenders causing a ton of un needed hard pulls. They don't directly loan themselves, they're just a middle man.

Re: Blank check auto loan lenders

settleordelete — Wed, 03 Feb 2016 17:50:05 GMT

That's true. I applied for a loan through lending tree back in 2011 and got a couple of good offers. However my Ford dealer gave me a better deal with FMC. So for someone in the O.P. situation I guess a credit union would be best. But with a bankruptcy, I wouldn't know any other way since I've never been there.

Re: Blank check auto loan lenders

Anonymous — Wed, 03 Feb 2016 18:44:55 GMT

Well it turns out after some research the delaership I was looking at did take Cap One. The thing was the dealer changed names and the Cap1 website had the old name. Only issue is the car was not what I wanted. So I'm back to waiting to find the right car.

Re: Blank check auto loan lenders

StartingOver10 — Thu, 04 Feb 2016 21:51:56 GMT

@cartwrna wrote:
Lending tree is a bad source, they shotgun your credit out to many lenders causing a ton of un needed hard pulls. They don't directly loan themselves, they're just a middle man.

+1 Lots of hard pulls and all you are is a lead for lenders. Not worth it IMO

Re: Blank check auto loan lenders

Anonymous — Fri, 05 Feb 2016 06:52:46 GMT

I suggest a credit union. DCU has a good reputation and is easy to join but most any credit union is going to be better than getting financed through a bank.

Re: Blank check auto loan lenders

Anonymous — Sat, 06 Feb 2016 13:20:00 GMT

I joined a local credit union before I knew about DCU. I don't know if they will provdie a loan for me less than a year after my discharge. I will have to cross that bridge in a month or two.

Re: Blank check auto loan lenders

Anonymous — Sun, 07 Feb 2016 14:34:11 GMT

Hi blips, I spoke to my new CU the other day about an auto loan as well. I got a secured card from them and the loan officer said they'd like to see about 6 mos of good payments post BK before graduating to other kinds of debt (car, mortgage, unsecured CC). I'd like to get a car in about 3 months, which is prob won't be enough for them, but I'll give it a try anyway. Might go with cap1 for the time being, then refi as soon as the CU will let me.

Re: Blank check auto loan lenders

Anonymous — Sun, 07 Feb 2016 15:05:49 GMT

Are you looking for a new car or used? If used will your CU provide a loan for independant dealers?

Re: Blank check auto loan lenders

Anonymous — Sun, 07 Feb 2016 15:41:30 GMT

Looking for slightly used. Their only stipulation is that it's gotta have less than 100k miles. They don't seem to care where it comes from. I'm hoping to find a 2014/5 with under 20k miles

Re: Blank check auto loan lenders

Anonymous — Sun, 07 Feb 2016 15:44:48 GMT

Looks for an Audi RS5 btw, probably a frivolous expense, but my income more than tripled during my BK (which I never really go to enjoy til a couple weeks ago cause the trustee kept getting more and more lol) and I want something fun.

Re: Blank check auto loan lenders

Anonymous — Sun, 07 Feb 2016 22:03:38 GMT

Carfinance.com financed us for 36k at 8% 5 months post discharge.