bankruptcy friendly Auto loans

[Anonymous]

Hello, i just received my Discharge back on July 13th 2019. I was wondering if there was any bankruptcy friendly banks out there that would approve an auto loan right after discharge. Trying to avoid the dealership shotgun to lenders and getting multiple HP's. Any way/how to approach a dealership for this purpose. ive seen some threads out but was wanting updated information.

note i did iib capital one and crescent bank.

my current fico auto 8 score for experian is 593

[FireMedic1]

Did you reaffirm you car or no? Or are you without a car.

[Anonymous]

No vehicle. Didnt reaffirm. Figure id get a better rate after discharge. 

[Anonymous]

Check out Carvana, they give you a rate by soft pulling your credit. We purchased a car even before discharge as we had to and the rate wasn’t that bad.

[FireMedic1]

I'm surprised you haven't gotten the mailers yet. I got 10 a week for months to get a car loan. They'll be flying in. Good advice above. There are a ton of finance companies if you google bankruptcy auto loans. Try local credit union also. Good Luck! Congrats on your DC! Happy rebuild!

[Anonymous]

I actually just walked into a dodge dealership and they approved me for a chrysler 300... 0 down $32000 for 650/month for 72 months 19.5 % apr through Chrysler Capital... i tried to haggle a bit and for about 20 mins of back and forth i told them that i would sleep on it and that id possibly check out another dealership or two.

my question is that a good rate offered or can i get a better rate elsewhere. My only issue now is even though shopping around is great i do not want these dealerships to keep hard pulling i just had 4 tonight alone. Is that the bestrate i can get? I tried carvana they require a$200 down payment at 20% apr. 

[Dj4Money]

 In my research that is about the going rate as it's based more on your current FICO scores than on your BK.

 If your scores are over 600, it should fall between 9% and 16%. Lower than 600, will be 18-20%.

 If you didn't burn Capital One you might want to try them it's a soft pull, but I doubt your rate will improve. Just refi after get you scores up (6-8 months), the rate will be half or less than what is now. 

[audio-disabled]

This is just me, personally, I am against buying new cars mainly because of how much they depreciate. See if you can find something used. I don't know any more details about yourself, but I would try find something much more comfortable and affordable.

Try finding a dealership that have bankruptcy specialist - they have relationships with certain banks. The rate might suck, but suck it up and pay on time for next 6-7 months, then refinance with CU for much better rate.

I used to live in Austin, bought my '09 CRV through bankruptcy specialist at a dealership in Killeen at 23% rate, then in 7 months, I refinanced with RBFCU at 13.3%. Payment went up just slightly, but terms went down. No downpayments.

[AC2019]

I would encourage you to apply with CapitalOne. If you apply thru the “Auto Navigator” program; it’s a soft pull and gives you the option to choose your car and structure your deal from your desktop. I hope this helps.

[AC2019]

Capital One it’s a good choice as long you have already been discharged. It will not be an option if you have not gotten your discharge.