cancel
Showing results for 
Search instead for 
Did you mean: 

Bankruptcy Friendly Auto Loans Guide

Estimate your FICO® Score range for free

FICO® Score Estimator

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
New Contributor

Re: Bankruptcy Friendly Auto Loans Guide

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. 

Message 11 of 60
New Visitor

Re: Bankruptcy Friendly Auto Loans Guide

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
Message 12 of 60
New Contributor

Re: Bankruptcy Friendly Auto Loans Guide

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.

Message 13 of 60
New Visitor

Re: Bankruptcy Friendly Auto Loans Guide

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.
Message 14 of 60
Established Member

Re: Bankruptcy Friendly Auto Loans Guide


@Freshstartnow2017 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

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. 


Message 15 of 60
Established Member

Re: Bankruptcy Friendly Auto Loans Guide

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.
EXP 633
EQ 659
TU 609
Message 16 of 60
Regular Contributor

Re: Bankruptcy Friendly Auto Loans Guide


@Frozenpepsi 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.

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. 

BK7 08/2016 | DC 12/2016

Message 17 of 60
Established Member

Re: Bankruptcy Friendly Auto Loans Guide

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.
EXP 633
EQ 659
TU 609
Message 18 of 60
Frequent Contributor

Re: Bankruptcy Friendly Auto Loans Guide

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.
RBFCU Premier $25K, Sam’s Club MC $25K, Citi Exec WEMC $27.5K, Alliant Signature $20K, SSFCU $20K, Cap1 Venture $20K, Employer CU LOC $20K, Navy GoRewards $18K, 2nd NFCU Plat $14.7K, Citi Simplicity $14.7K, PenFed Power Cash $10K, PenFed PLOC $10k, Navy Platinum $12.7K, SMG $8.5K, PenFed Promise $2.5K, Total Rewards $6K, Discover It $1.7K, Discover It $2K, Cap One QS1 $850, Overstock $29.5K
DC BK13 3/17....TU clean due to EE as of 12/17! EX clean as of 4/18! EQ clean as of 5/4/18!
Message 19 of 60
Established Member

Re: Bankruptcy Friendly Auto Loans Guide

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.
EXP 633
EQ 659
TU 609
Message 20 of 60
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.