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Auto Loan post CH7 Discharge

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Auto Loan post CH7 Discharge

So The wife and I have a bit of a situation, after discharging a week today, we need a 2nd car. We re-affirmed one of our cars in our CH7, but let 2 go.  We are looking at inexpensive efficeint cars (IE the Fiat 500) and have found one we really like, but now the tough part, financing.  I have a number of questions, and as you all have been so helpful in the past Here we go.


1) if we want to keep the number of inquries down, who would likely be the best to apply at? (I checked cap 1 prequal, and its negative)

2) If we could technically pay cash (meaning it would wipe us out financially, any thing we have managed to put aside, and maybe even have to borrow a little from a friend) would that be better? OR would it be better to have an auto loan post ch7 discharge

3) If I had a repo with Wells years ago, and we included that in the BK, is wells off the table entirely (it was charged off years ago, the attorney thought it best to include just in case)


My current scores as of the day after discharge are EXP 526, TU 490, Equifax 529


BTW the 2 autos we returned were both Ally Financial, the 1 we kept was through a local CU (vantage west), we also burned Cap 1 credit cards for about 5k

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Re: Auto Loan post CH7 Discharge

I just purchased a brand new Mazda 3i which gets 41MPG. 


Its a great car with lots of standard features like backup camera, push button start, Pandora integration.


I paid $15,400 and was able to finance with Mazda/Chase around 7.7% 2 months post discharge.


I am a single parent to teenage daughters and have sole custody.


I also purchased a car for my daughter weeks post CH 7 discharge in June and financed with Santander but a much higher rate than I got with Chase.


I strongly suggest you look at the Mazda 3 it's a blast to drive and seems like a better value than the Fiat 500 and give Mazda/Chase a shot.  I didn't burn chase they denied me opening a checking account based on my FICO not Chex Systems.



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