Bankruptcy Friendly Auto Loans Guide

[BamBam2000]

When I went to the trustee for approval she would only grant me 350per month more and the loan had to be a new car. I never buy brand new so instead I had been saving and paid off my case early. Glad I did because it takes days to get discharged in Illinois the most corrupt backwards state in the union. I want to buy a used car like I did in 2007. You can get a car but have to get approved from your trustee. 

[Anonymous]

Wells Fargo and cap 1 offered me auto loan days after discharge with ficos in 560s. Ally and Ford both denied. Decided to wait a few months and try again for a better interest rate

[BamBam2000]

What rate did they offer you. I only have one score thats not 600 yet. Transunion who I haven't been able to get a response from with my disputes.

[Anonymous]

11% which is why I am waiting a few months. I have absolutely no active accounts showing yet so should get better rate in few months.

[Anonymous]

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@Anonymous wrote:
Wells Fargo and cap 1 offered me auto loan days after discharge with ficos in 560s. Ally and Ford both denied. Decided to wait a few months and try again for a better interest rate

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Freshstart, did you apply directly with Wells & Cap1? Also were the reports updated showing the discharge? As of right now the only one showing my discharge is my EX and that score is 589. My TU is 566 and my EQ is 614. 

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[Anonymous]

Anyone have any luck with Jeep/Chrysler?
My discharge is Feb 16, and I'm trading my 2004 wrangler in on something new with a warranty.

[nykos5000]

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@Anonymous wrote:
Anyone have any luck with Jeep/Chrysler?
My discharge is Feb 16, and I'm trading my 2004 wrangler in on something new with a warranty.

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Chrysler Capital (Capitve Lender for Fiat-Chrysler) is a subsidiary of Santander so I assume that they follow similar underwritting rules. I have read on BK forums ppl getting loans with Chrysler Capital a few months after a BK but not sure about about immediately. On the flip side, my buddy got financed right out of BK with 10% down with Santander so YMMV. If you do decide to apply, please let us know how things turn out. 

[Anonymous]

Wife wants me to try cap 1, but I burned them for a $800 cc, so I really doubt that they will approve me.
The reason that I wanted to use Chrysler is that they will give a jeep loyalty rebate for trading in my Jeep, or at least that is what a salesman told me recently. I'm kind of skeptical about that because he may be trying to steer me towards Chrysler financing.
From what I have been told by other Jeep owners, the dealerships give the Jeep loyalty rebate, not the finance co, so I'll find out more in six weeks.

[Anonymous]

DH got financed for $40k just 2 weeks out of BK13 with Cap One at 4.9%. We were able to refi with PenFed just 1 month later at 3.75%.

Cap one pre-approval process was easy @ our purchase was with Car Max and super easy! I think Cap One did a triple pull upon the final approval.

[Anonymous]

I can't even use the pre-qualify until my discharge is final. I'm pretty sure that if I tried it that it would be instantly rejected, haha.