Post BK

[MacMan313]

I am two weeks post BK and in need a vehcile. I have some money to put down but not a huge amount. Ive applied for Capital One, Chase, and Santander loan. I have been denied with each. Im trying to avoid the dealer route because in recent meetings ive felt like they tried to screw me with price padding.

Anyone have any ideas?

[0REDSOX7]

As crappy as this may sound, sometimes dealers can get loans approved with lenders when cold applying doesn't work (in your case).

[MacMan313]

Ill give it a shot i gues. Any recommended dealer brands (chevy, ford) .. I know some have better lenders.

[Creditaddict]

if you have a carmax near you I would go there and find the most reliable car that will hold it's value best (Toyota, Honda, Nissan)

I purchased a Honda Accord at Carmax 1 day after my bk dismissed and was approved through Santander at 17%.

I refinanced 1 year later and I wasn't even upside down because the honda held it's value so well and had low miles to begin with despite it's age!

[MacMan313]

Quick update:

Met with two dealers today. One wasnt even interested in working with me. He insisted that I come back another day because I only had $3k down and that his finace manager didnt want to waste his time. I make over $80k a year and was in complete shock.

The salesman at the second dealer told me that he his fiance rep said he could get me in the car I wanted. (Chevy Dealer). The salesman was an elderly man, most likely in his 70s. He pulled me aside and I quote "Son, you need to walk away and come back in 3-4 months. I dont want you suffering from a bad loan for the next 5 years. Im certianly not going to ruin your life so I can make a quick buck. Im not in this business to harm people."  Again, I was in shock. I couldnt believe that I was hearing this from a salesman. It left a lasting impression on me. He sold me with that remark. I will most definately be going back to that salesman after a few months of grooming my secured cards.

[Creditaddict]

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@MacMan313 wrote:

Quick update:

Met with two dealers today. One wasnt even interested in working with me. He insisted that I come back another day because I only had $3k down and that his finace manager didnt want to waste his time. I make over $80k a year and was in complete shock.

The salesman at the second dealer told me that he his fiance rep said he could get me in the car I wanted. (Chevy Dealer). The salesman was an elderly man, most likely in his 70s. He pulled me aside and I quote "Son, you need to walk away and come back in 3-4 months. I dont want you suffering from a bad loan for the next 5 years. Im certianly not going to ruin your life so I can make a quick buck. Im not in this business to harm people."  Again, I was in shock. I couldnt believe that I was hearing this from a salesman. It left a lasting impression on me. He sold me with that remark. I will most definately be going back to that salesman after a few months of grooming my secured cards.

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there you go!

yes just go over your reports left and right and make sure all included in bk accounts are $0 balance and not showing late payments, just included in bk and work on letting just 1 credit card report a small 9% or under balance while your others don't report and rotate each month.

[StartingOver10]

Agree with Creditaddict. Seems like you found an honest to goodness honest car sales rep! Hard to believe, but his advice is dead on....

So glad to hear you are going to listen to him and reward him with your purchase when you and your credit report are ready