Who will finance me?

[cirnrab]

So my hubby and I are looking for a new car. I just got discharged from BK. My question is: If I were to buy a new car with a instant cash rebate, could I use that as a down payment, and not have to put any money down? Any ideas suggestions on who would rather it would be ford or toyota, chevy, any brand doesn't matter we just need another car that we can get financed and not have an outrageous payment every month Thanks guys

[Flamingo]

If, in the past, you had a car loan with say GMAC, Ford Credit, etc. and the loan was paid satisfactorily with no late payments, your best chance of getting approved for another loan is again through a dealer selling that brand of vehicle. However, there is no guarantee, but it's a start. Best of luck to you.

[Cali]

I don't think you can use an instant rebate as your down payment.

[bmcmull]

YOu deffinately can use the rebate a money down, plus if you have a trade in (even if you owe more than what its worth ) they can show it as equitydown and inflate the sell price. However as said before use a previous lender that you had in good standing. Otherwise you will have to go secondary finance and that is a mess. 18%%%%%%%

[Cali]

When we bought our cars, we had to have an actual down payment and the rebate was subtracted from the amount financed(which in the end was almost equal).

YOu deffinately can use the rebate a money down, plus if you have a trade in (even if you owe more than what its worth ) they can show it as equitydown and inflate the sell price. However as said before use a previous lender that you had in good standing. Otherwise you will have to go secondary finance and that is a mess. 18%%%%%%%

[ggwash21]

Say you put $1000 down on the vehicle and the car has a $2500 rebate they will take your $1000 and the $2500 rebate and will look like you have $3500 down on the car. thats why when you have bad credit alot of big dealerships will try to get you into a new car cuz of the rebate.

[Cali]

I learned something new today.

Say you put $1000 down on the vehicle and the car has a $2500 rebate they will take your $1000 and the $2500 rebate and will look like you have $3500 down on the car. thats why when you have bad credit alot of big dealerships will try to get you into a new car cuz of the rebate.

[CindyLou]

Yep! I used the 4000 rebate as part of my downpayment which got me a great rate. They had offered to let me use just the rebate but my rate would have been a little higher.

[2confused]

Is it unlikely to get a car loan if you included your car in the bk. This is what I was told at the car lot yesterday?