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Bankruptcy Friendly Auto Lenders

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JJ2005
Established Member

Bankruptcy Friendly Auto Lenders

I'm looking for some BK Friendly Autolenders.  Waiting on my discharge papers from my Chapter 13... Right not, my EQ Fico is 590...  one of my previous autoloans and a few other things that were included in my BK are showing as past due.. I'm sure once its discharge and I get those updated my FICO will be over 600 may 620 with the current postive tradelines that are on my report...  I'm looking to get a used or maybe a new car by the end of the year... Any advice on the lenders I should try? I would perfer to have a preapproval before going to the dealership.  My current income is 42k. 

Message 1 of 5
4 REPLIES 4
teenastie
Established Contributor

Re: Bankruptcy Friendly Auto Lenders

Cap1

Santander

 

Two of the most awful subprime auto lenders I can think of. More often than not a hefty down payment should get you an auto loan approval with your CU and/or bank. Typically auto dealers have several "alternative" lenders on file that they will shop you. Get approved and plan to refi in 18 months or so. 



Message 2 of 5
JJ2005
Established Member

Re: Bankruptcy Friendly Auto Lenders

Thank You... I'm pretty much acceptant of the fact that I will likely ger Mod Cut in Intrest and will be looking to  Refi the loan later down the line... My wife's father works for the State Department, so we're going to setup and account in the next couple of days with either PenFed or USAA in hopes that  they will Refi sometimes next year.. 

Message 3 of 5
StartingLifeOver
Regular Contributor

Re: Bankruptcy Friendly Auto Lenders

Try Nissan Finance.  I've heard of people getting approved after a completed bankruptcy.

NFCU Cash Rewards $16,100/FNBO Platinum $9.100/Best Buy Citibank $2,500/Care Credit $7,600/TJ Maxx $1000/Neiman Marcus $7000/Saks5thAve $2500

Starting Score: 426 Ch. 13 BK Filed Sep 2009; Discharged Jan 2013 Smiley Happy
Current Score: TU 706 EQ FICO 701 EX 704
Goal Score: 720

Message 4 of 5
Hammer23
Frequent Contributor

Re: Bankruptcy Friendly Auto Lenders

Wells Fargo Dealer Services is very BK friendly as well

WF Home Projects Visa $8500 / Towpath CU Visa $7000 / Chase Freedom Visa $5500 / Cap 1 QS Visa Sig $5000 / Barclaycard Ring MC $5000 / GE Lowes $5000 / Citi Best Buy MC $4250 / Barclaycard Rewards Visa $4000 / BFG CU Visa $3500 / Citi Sears$3000 / WF Visa $2000 / GE Walmart $1900 / GE Care Credit $1900 / GE Amazon $1400 / Cap 1 Kohls $1000 / GE Old Navy $800 / Webbank Fingerhut $700
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