Who were approved through post BK and some details...

[Christina83]

Discharged- August 31,2010
Applied- Sept 23, 2010 with credit union of Ohio
Approved-Sept 24, 2010 turned down twice before
Interest- 11.49%
Loan- the pay 80% I pay 20% on whatever vehicle I decide on!
I also have an apt with a for dealer tomorrow to c what they are talking about. Does anyone know if I can buy from a private dealer with the credit union loan?

[pris72]

Congrats pris72!! You have an affordable payment and you got a good deal. I picked up my Nissan Rogue last night and love it. Now, let's both start working on rebuilding our credit some more so that we can get houses.....

That is the goal, to buy a house. I may even have something going on in that dept. as well. Someone my husband knows from work is wanting to lease purchase his home out, and said we could do that for 2 yrs. He said he'd take I believe $200 each month from the payments, which we would apply towards the down payment. It's an older home, but he has completely remodeled the inside of it. New everything. I am still iffy on it, due to distance from my husbands job.

[pris72]

Congrats !!!!!!!!

Any idea what your auto enhanced score was?

You know they didn't even mention it, and I completely forgot to ask. I guess in the moment I was just so excited that I wasn't turned down, that I didn't even think about it. I know my FICO scores are all between 615-630. Five months ago they were all barely over 500 fresh out of discharge.

[backtoschool]

Congrats pris72!! You have an affordable payment and you got a good deal. I picked up my Nissan Rogue last night and love it. Now, let's both start working on rebuilding our credit some more so that we can get houses.....

[mom2three09]

Ok STOP the press. I bought a car today. YES!!!!! Brand new Ford Focus. Granted it's a smaller car, but I am excited. I got $6,000 in rebates on it. $3,000 went towards the down payment, and the other $3,000 off of the sticker price. I got the X plan thanks to my Dad working for a preferred company. I am financing it through americredit at 14.9%. I was actually thinking that our interest rate would be higher. Our payments are just over $300 a month, with the 1st payment due in 45 days. I did notice something on my credit report. Flipping capital one has pulled my credit 15 times. For what, I have NO clue. I am going to call them to find out why. They should show up twice. Once for my CC, and the other when we applied for auto financing through them.
I have a warranty, roadside assistance,microsoft sync, satellite radio and if I break down I just call someone right from my car. We are still going to attempt to fix my saturn. If we get it running, we're going to sale it. If not we may still sale it, but at a much lower price of course.
Oh I only had to put an additional $500 down, so I wrote out the check and left in my new car. Everything worked out. The payments were less than I predicted, which is always a good thing. We'll keep the car a few yrs. and trade it in on something more expensive. By then we should be able to get approved through a major lender with excellent interest rates.

Congrats !!!!!!!!

Any idea what your auto enhanced score was?

[pris72]

Ok STOP the press. I bought a car today. YES!!!!! Brand new Ford Focus. Granted it's a smaller car, but I am excited. I got $6,000 in rebates on it. $3,000 went towards the down payment, and the other $3,000 off of the sticker price. I got the X plan thanks to my Dad working for a preferred company. I am financing it through americredit at 14.9%. I was actually thinking that our interest rate would be higher. Our payments are just over $300 a month, with the 1st payment due in 45 days. I did notice something on my credit report. Flipping capital one has pulled my credit 15 times. For what, I have NO clue. I am going to call them to find out why. They should show up twice. Once for my CC, and the other when we applied for auto financing through them.
I have a warranty, roadside assistance,microsoft sync, satellite radio and if I break down I just call someone right from my car. We are still going to attempt to fix my saturn. If we get it running, we're going to sale it. If not we may still sale it, but at a much lower price of course.
Oh I only had to put an additional $500 down, so I wrote out the check and left in my new car. Everything worked out. The payments were less than I predicted, which is always a good thing. We'll keep the car a few yrs. and trade it in on something more expensive. By then we should be able to get approved through a major lender with excellent interest rates.

[pris72]

That's what I hope we are able to do. I just need dependable transportation with a warranty right now. I'll be fine with a PT cruiser or a cobalt for now. Just something with low payments, that will get me back and forth to Dr's appointments and to take my son to night school. I just hate that I have a car sitting in my driveway that body wise is in excellent shape. It couldn't be something minor. It had to be a big fix for it. It's a 2000 Saturn LS1. I paid $6,500 cash for it back in 2006. I love that car. : (

[mom2three09]

You can find a nice new(er) car for around $10K. Five months post discharge we bought a 2007 Mazda6i sport with only 36K miles on it for $10K. We went thru a local credit union we had just joined a few months earlier and was able to get 9.9% interest rate. Even at 15-17% interest your payment wouldn't be bad and you can always refinance once your scores start coming up -- which is what we are going to do in Nov. (scores are almost good enough to get 5% rate right now -- talked to our CU about it already). Good luck and keep us posted.

[pris72]

What's hurting us now are all of these dealerships pulling our credit. I'd like for them to be up front with us on whether they feel we'd even get approved. If they don't, then there is no reason to pull our credit again. I even told them there was no need, as I gave them my scores and revolving credit that I have. I'd think a "good" salesman would know right then if we even have a chance. I just joined a credit union. I have to print off the application, sign it and send it back in. I am going to start putting $50 a week into that savings account.

[LSUTiger32]

I would go to a small used car dealership or a credit union for a loan and buy a decent used car. I just have a feeling with 15% on a depreciating car, many people will wind up in debt trouble again since the monthly payment would be so high and the job market is not secure.

Bite your tongue! I guess this one must have slipped through the cracks. "They" will find you soon enough!

[pris72]

Americredit will probably approve you, but you will have a high interest rate. You can always refinance in a year though.

That is what I had planned on doing, the refinancing after a yr. Now Americredit deals with GM, don't they? I just want a used car for now, something in the 14K range. I have been looking into either a used ford fusion or a smaller SUV with less than 50,000 miles on it.

[backtoschool]

My score today through equifax is 622. I did not pay to pull all 3 scores, as equifax seems to be the one most where I live use.
Prior to filing I was hovering right around 500. capital one turned me down for an auto loan. Some auto loan finder place keeps calling me, but I am reading horror stories on the internet about them.
What about americredit?

Americredit will probably approve you, but you will have a high interest rate. You can always refinance in a year though.

[blankslate]

My score today through equifax is 622. I did not pay to pull all 3 scores, as equifax seems to be the one most where I live use.
Prior to filing I was hovering right around 500. capital one turned me down for an auto loan. Some auto loan finder place keeps calling me, but I am reading horror stories on the internet about them.
What about americredit?

Americredit approved me last Monday with a 623 score. Cap One had turned me down too. The interest is high 21.99% but I also put $1500 down so my payments are $248 per month. I feel pretty good about it because my total amount financed is $8500 and they sold me the vehicle $2000 below Blue Book Value so I already have equity in the vehicle. In a year I can refinance and my payment will be even lower.

[pris72]

My score today through equifax is 622. I did not pay to pull all 3 scores, as equifax seems to be the one most where I live use.
Prior to filing I was hovering right around 500. capital one turned me down for an auto loan. Some auto loan finder place keeps calling me, but I am reading horror stories on the internet about them.
What about americredit?

[backtoschool]

I never posted either so here goes,

Discharged 11-05-09
Credit Scores - all around 670-680.

Approved Capital One Auto Finance (applied Online)
Approved for 24k instantly

Interest rate: 4.42% for 60 months.

I am not sure I am going to use the financing, but I really want vehicle that handles winters well since I am driving more.