We Know Ford Is Friendly...BUT

[SCORPIO07]

Very nice and congrats....

[bmcmull]

Well....i emailed their special financing dept...and a the financing manager called me the same day at Haley Toyota in Richmond, Va. He stated that i could come and check out some vehicles and that he has several lenders to work w/ me...but he stated that i had to wait until my 341 meeting. The next day.....i went to go pick up my vehicle....and they financed me through Prestige Financial. My interest rate was a lot lower than the vehicle i had pre-BK. They also have a rate reduction program where every 6 months your interest rate drops .5% as long as you pay on time and keep up your insurance. Oh yeah...no down payment. He also had another lender for me but i would've had to put down $1500......i went w/ the no down payment.....and purchased a Toyota Hilander. Very nice..and easy process...and they treated me as if i had a 700 credit score...no different.

It does not report to your bureau, not re-establishing. Sounds like in house financeing.... Beware of these guys. The larger dealers are doing it these day's. Also becareful of what you paid for the car as the APR is lower because they charge way more for the car. This way when you go to refinance with a better bank you are TANKED in the car and cant with out lots of cash down. Anyway they get there money. My guess is the treatment was sincere as you are probably one of there better customers.

Asaying goes in the car buisness " The people you make ALL the money on you never here from again, the people who beat you down for every dime you cant get rid of and are never happy" The question you must ask yourself is " Are you happy with the deal and the car ? "

[brokeinmichigan]

What doesn't report to the bureau? Prestige Financial?

[tiredofdebt1]

Prestige Financial does report to the credit bureau and shows as paid on time.....

[teddy26]

Yes, Mazda is BK friendly....

I was able to get a Lease only a few days after my discharge....yes, lease on a car from Mazda..... used the manufacturer rebate as down payment.... my credit score was not great at all, but the finance dept kept at it.....they were able to get me approved.... 24 month lease at an afforable monthly payment.....I will be able to get my credit score higher as long as payments are on time, and I will not have to be "upside down" again by purchasing a car at a high %.

It can be possible if you find the right dealership/finance person....

Good luck!!!

[blackqueen8]

As to Prestige Financial, I just used them to get an 06 Taurus between 341 and discharge. My scores prefile were around 480, I had previous repos and was surrendering a car I had for 6 months without paying a dime on it. I didn't like the deal the dealer in town offered with Prestige so I dealt with Larry Miller Toyota in Phoenix. They let me choose from any used vehicles at any Larry Miller dealer in the Phoenix area in the price range I wanted, they overnighted me a contract, I signed and returned, then they paid for a plane ticket to Phoenix from Vegas, had someone pick me up, I was in the dealership less than 5 minutes with full tank of gas and MY car to go home with.

You can take delivery with Prestige the day after the 341 in a CH 7. The pricing with Larry Miller Toyota is the internet price. It is not negotiable as it is already less than the "window" price. I paid $3k UNDER KBB Retail, and there is absolutely NO pressure. I took over a month to do it by my choice, and the poor salesman still answered his cell nearly every time I called, or he returned my call right away. The experience was actually 1000X better than it was when I had a 725 score and could get any vehicle on the lot.

One warning though..... The rate reduction requires automatic payments out of a checking account. They don't tell you until you get the loan. Otherwise keep insurance and your contact info current and you can still get 0.25% reduction every three months.

They flew you out there? So even though I live in California I could still go through Prestige? Huh, I'll have to look into that. Did they add the cost of the plane ticket to your contract?

[Cali]

Yes, Mazda is BK friendly....

I was able to get a Lease only a few days after my discharge....yes, lease on a car from Mazda..... used the manufacturer rebate as down payment.... my credit score was not great at all, but the finance dept kept at it.....they were able to get me approved.... 24 month lease at an afforable monthly payment.....I will be able to get my credit score higher as long as payments are on time, and I will not have to be "upside down" again by purchasing a car at a high %.

It can be possible if you find the right dealership/finance person....

Good luck!!!

Did you file 7 or 13? And what was your score?

Thanks.

[schel]

On another note...

Ok, so here's my question...

We met with our lawyer and he said we can keep the truck we have. Book value is around 14,500 and our loan value is 15,750.
We have not even retained a lawyer yet, and he said at our free counsiltation that we need to change our bank. Our checking acct and our loan on the truck are through a credit union and since 1 of the debts we want to discharge is a line of credit on our checking acct. this is why he said we have to change banks. We also asked if we could go get a new vehicle trading in our truck we currently have and he said he did not see a problem with this.

So help me out with this...
Our truck has 52,000 miles on it. The lawyer said we could either change the loan on the truck to the new bank we go with, or we could trade in our current truck we have on a new one to get the loan out of the credit union we are at right now. Thing is, we went and looked yesterday and got sticker shock.
If we just switch the loan, we have to go with a used car loan and the interest rate goes up. If we trade in our payments are back to 7 years and our current loan is at 3 years to payoff. Will we have good enough credit restored after 3 years to be able to to trade in and get a good rate again? Or should we make sure to do it now before we file?

Any questions and help is much appreciated. Our credit score are still in the 700's until we file. So not sure what to do. If our credit is going in the toilet after we file, we just want to make sure we have one half way decent vehicle after filing.

Thanks for help.
Schel

[schel]

bump

[Bobbi]

Well....i emailed their special financing dept...and a the financing manager called me the same day at Haley Toyota in Richmond, Va. He stated that i could come and check out some vehicles and that he has several lenders to work w/ me...but he stated that i had to wait until my 341 meeting. The next day.....i went to go pick up my vehicle....and they financed me through Prestige Financial. My interest rate was a lot lower than the vehicle i had pre-BK. They also have a rate reduction program where every 6 months your interest rate drops .5% as long as you pay on time and keep up your insurance. Oh yeah...no down payment. He also had another lender for me but i would've had to put down $1500......i went w/ the no down payment.....and purchased a Toyota Hilander. Very nice..and easy process...and they treated me as if i had a 700 credit score...no different.

same here, i am with prestige, and got in for 17% instead of the usual 21%. I still want to refi soon, maybe with cap one if I can get lucky, to lower my payment, since gas is so high......but i got a 2007 chevy uplander with 22,000 and loaded with wood grain and all. love it. my notes are just at 400.00