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The loan amount is going to be on the high side for a fresh discharge.
I have seen, banks like Ally, and Capital One give "decent" rates for someone freshly discharged from a BK with a good down payment...You will definately find someone to approve you, just depends on the interest rates, lender's like CPS (Consumer Portfolio Services) and Prestige, specialize in BK financing at the expense of a high APR.
Did you carry any installment loan's through the BK? Many captive lender's like to see you carry a loan through the BK or re-establish after the BK before they will touch someone.
Now that im discharged my scores are:
Fico 8 EX: 665
Fico 8 TU: 675
Fico 8 EQ: 641
I applied through Capitol One Auto Navigator and didn't get a denial but did recieve a message saying they're reviewing and will contact me in 2-3 business days. Has anyone recieved this message?
@Pharoe33 wrote:Now that im discharged my scores are:
Fico 8 EX: 665
Fico 8 TU: 675
Fico 8 EQ: 641
I applied through Capitol One Auto Navigator and didn't get a denial but did recieve a message saying they're reviewing and will contact me in 2-3 business days. Has anyone recieved this message?
That message means "no". They just need 2-3 days to fish around for 3 reasons.
Looking for a reason to not approve me is a bit disappointing, especially after reading all of the post bankruptcy approval success stories found here throughout the forums.
There are two parts of your original post that I believe would make a lender careful with you:
1: "fresh out of bankruptcy". If you were "six months out of bankruptcy" my response would have been different, but you are looking at borrowing $45,000 fresh out.
2: "$45,000". See the second sentence of #1 above and read it aloud a couple of times. If it were "$5,000" or even $10,000" my response would be different, but a $45,000 loan on a car is a pretty hefty loan.
I think you are trying to do too much too fast.
Respectfully, I submitted an application through their pre-approval navigator. I did not specifiy the amount of $45K on the application, I simply submitted the application just to see if I'd be approved for any amount without the sacrifice of a hard inquiry.