Car loan right after Chapter 7 disharge

[Anonymous]

I finally was discharged this oast Friday after amost 6 months of waiting. I added a creditor late and it delayed everything by 60 days. While I was waiting for my dc.. my brother added me as a auth user on his CC. My current credit scores on credit karma are: Equifax 709 and Transunion 690. I know credit karma is typicaly higher than your real score. Apparently the cc i was authorized on didnt report to Experian.. my score is 609. My car broke down on the first of this year.. not surprising.. it has been a POS since I got it. I really need to get a car aoon and Im waiting for the discharge to report to all credit bureaus as it has only been reported to Experian so far. I was in panic mode when my car broke down and went on cap one auto adv to see if i prequalified for an auto loan prior to discharge.. denied. Wondering if O should try again once my dc is reported to all bureaus or is there a better place to try post discharge? I dont want a fancy car and im not buying a 2k junk car waiting for a better rate. I can refinance when that times comes. Any help is appreciated!!!

[Anonymous]

Check out CARVANA. Pre approval is a soft pull and will give you solid terms. Lots of vehicles to chose from, easy to filter based on budget or needs/wants, and the process is super smooth. I’m in an open Chapter 13 and they’re working with me with little to no hassle.

[Anonymous]

Any idea on Carvana's score requirements?

[Anonymous]

I’m not sure there are firm requirements. I’m in an open Chapter 13 (with Trustee approval letter) and they listed my score as a 538 after their hard pull. Pre-Qual was a soft pull and the offered terms didn’t change after the hard pull when I chose to go forward with a purchase. So far the process has been amazing. I’ll post a review once I receive the vehicle and can comment more on the process.

[Anonymous]

Could you comment on the amount you were approved for & the APR? Also, did they soft/hard pull all three CRA's or just one?

[Anonymous]

Soft and hard pull were Experian only. Soft for prequalification, hard only after I accepted the terms and selected a vehicle. I don’t recall them giving me a max amount but I was searching under $20,000 because my Trustee letter stated no more than $500/month or $20,000 total. The letter wasn’t uploaded until the transaction was in underwriting so I don’t believe it was a factor. Initial terms were $200 required down payment and 19.4% interest for 72 months. I’m 1 year in to a 5 year Chapter 13 and I have no open accounts since filing so I was actually impressed with the initial terms. I selected a vehicle that was $11,700 and set my payment terms to 60 months which dropped the interest rate to 19.28. Down payment remained the same $200. I’m expecting the vehicle on January 17th so I’ll be able to give a better review after the fact. So far I’m impressed and a huge fan of the process.

[Anonymous]

Thanks for sharing! I may look into Carvana when it comes time.

[Anonymous]

Hello,

I wanted to update everyone. I reapplied for Prequalificarion with Cap one Auto Nav n Monday since my bankruptcy was discharged last Friday. This time they approved me after jist denying me two wks before prior to discharge so make sure ur discharged first! I picked a car went to the car lot, paid $500 down and was approved for a 2018 Mazda 6.. payments $400 a month. So Cap One came theough in the end for me which is who I wanted the loan through. They pulled from all credit bureaus and my Fico score is 650