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Car Loan After BK

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nomadic_traveler
Regular Contributor

Car Loan After BK

I'm 25 months post DC.

 

I'm looking at getting a car.  Not for cash but financing it.  I ended up buring the bank in my BK with my last lease.  Returned the car. The two leases before that were fine.  The bank happened to be Chase which I burned big time with CCs.

 

I'll finance through a different bank but how hard is it to get a car lease/car loan after a BK?  Since the car is collateral is it a bit easier? As opposed to a unsecured loan.

Message 1 of 6
5 REPLIES 5
Cowboys4Life
Frequent Contributor

Re: Car Loan After BK

You can get a lease or loan after BK but your interest or cost will be astronomical.

Message 2 of 6
Mjhall85
Frequent Contributor

Re: Car Loan After BK

to get a car loan it's pretty easy, a lease just depends on your profile and other factors. I got a brand new truck a couple weeks out of chapter 7 and got under 4% on a new ram. I am just about one year out now and actually just got another car loan along with my truck. They didn't ask for anything I just signed and left.

Chapter 7 filed 2/3
Discharged 6/30

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Message 3 of 6
ballysdad
Regular Contributor

Re: Car Loan After BK

I'm one year post CH7. Credit Union was 6% on used auto.

Message 4 of 6
FireMedic1
Community Leader
Mega Contributor

Re: Car Loan After BK

Check out credit unions. You can also try Capital One Auto Navigator pre qual. I believe they list the APR (which wont be exact at times) in the ballpark. Just to get an idea.


Message 5 of 6
nancyb10
Established Member

Re: Car Loan After BK

I got a car through Lexus

Message 6 of 6
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