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I just had bankruptcy last year and discharge last year. I called Nissan to purchase a Nissan quest but finance rate is a whooping 19%.
Now waiting for US BAnk if they can pre apprvoe me but this time its for a Kia Sedona. The car that I really really want.
My credit is not that established yet and I'm frustrated because everybank will tell you that I'm considered a first time buyer. Although I had few car loans
on my account. two paid for and 1 repossess. I added it on my bankruptcy.
If this loan fell through, is there any other banks that is bankruptcy friendly and will accept my loan request. I need at least 20K approval limit.
of course USBANK denied me. They required a 680 credit score to be approved at least.
I'm frustrated.. Maybe i may just need to wait on hold on getting a new car for my family.
They are saying I only have 550 credit score and used Equifax.
Personally I would say 19% isnt awful since the BK is so new. My first car loan fresh out of BK was 23% and I refinanced at 6 months to 12.9%. Then 6 months later I traded it in and got 6.9%. I would say most places you go will give you that high rate but you can refi later with good on time payments.
@indecison wrote:Personally I would say 19% isnt awful since the BK is so new. My first car loan fresh out of BK was 23% and I refinanced at 6 months to 12.9%. Then 6 months later I traded it in and got 6.9%. I would say most places you go will give you that high rate but you can refi later with good on time payments.
Try Capital One and Wells Fargo Dealer Services, they seem to be very BK friendly.
WFDS will only be avaliable through a dealership, Capital One you can apply online for
yes. Capital One approved me @ 19%. Maybe I will wait for more time. I already told my husband I don't want to pay for a new car since we are not ready for that yet.
I think we will just fix our van.. Thanks..
@aissa_sf wrote:of course USBANK denied me. They required a 680 credit score to be approved at least.
I'm frustrated.. Maybe i may just need to wait on hold on getting a new car for my family.
They are saying I only have 550 credit score and used Equifax.
Yeah with a repo/BK they auto enhanced fico is probably that low.
welp just an update our family got a new car yesterday !! I'm still hurting on finance charge and of course monthly due of $488 is still high.
I will wait for 6 months timely payment and hopefully I can refinance with much lower rate.
ANNUAL INCOME: 70K combine
MISCELLANEOUS COMMENTARY: I want to refinance. My first auto loan after bankruptcy discharge 1 year ago. Monthly payment is still a little high. Anybody can advise on when can I refinance and bank.. Thanks. This is with Trade in of our Mazda MPV 2000, they bought it for $750, then $2K down and there was also a $4K rebate on the new 2012.
Hi, I am new here and can use some help..
I recently applied for a Buick lease through US Bank with a Business App (which I'm the owner of) and myself as a Co-signer
My business is more than 3 years old with quite a yearly revenue. My personal fico scores and reports are perfect (Fico TransUnion 747 and Fico Equifax 762). They declined me and I still didn't get their letter.
Ally Bank is accepting me on personal or business right away..
Is there a way to have US Bank reconsider their decline (sort of a credit card reconsideration), or is an Auto Loan (Lease) decline more of a dead-end?
Any advice would be much appreciated
P.S. Reason I would like go with US bank (as oppose to ally bank) is the difference of approx $30 per month for a 36 month lease.