My chapter 7 bk was discharged back in October 2015. About 2 months after discharge I got about a 13k loan for a 2013 car for about 315.00 a month at 17%. I now need another vehicle and Marine Federal Credit Union which is my current bank I have been with for over a year just denied my application in 2 minutes flat for a used auto loan. I have about 1500 to put down. Any suggestions on getting the best rates and deals? Certain banks to use for certain dealerships maybe?
NFCU could possibly be an option. What was the reason given for denial?
Burned NFCU in my BK so thats not an option ever again. MFCU denied me because they have a policy of no BK's in the last 3 years. Looks like buy here pay here for me lol. Piece of **bleep** with 25% here I come!
try this link for capital one auto loans
I worked at PenFed before they screwed me as an employee because the manager was a big B. However.. you could try them. They give out loans on people I swear should not have a loan period, and they just started risk based lending. I know as an ex employee, and one who is going to file banko i'll be blacklisted, but as someone who hasn't worked for them it's worth a shot. You could call the MSR line, and see if you can get ahold of someone who's not a nitwit and talk with someone who's at the loan desk regarding approval before you apply, or you can just apply online and they'll tell you right then yes/no/maybe so. However you have to get them the title with them as a lien holder within 6 months otherwise they raise your rate to a perosnal loan rate, that's the only down side in my opinion with lending with them since a lot of people don't want to deal with that, and the fact that they are very understaffed things get missed and the waiting can sometimes be a long time depending on what loan product you're looking at.