Those of you who were approved recently...

[Amy26]

Thanks! Lucky you... I'm still under 600.

[Stilltheone]

Who approved you? For how much? How much did you have to put down? How long has it been since your discharge?

Dh and I are looking at buying me something else in a few months. I'm just curious about what to expect.

We were approved 10 months out of discharge through some local shady financial place. Our original loan amount was $7000. The dealer (also very shady) listed that we put down $2K, but we never did. He just inflated the price of the vehicle.

We applied through Roadloans and Capital One and got NOWHERE!

Good luck!

[NoMoreCards]

I was approved today through roadloans, and not yet discharged. But the interest rate was @23%!!!! They offered up to 20K, but with that interest rate it would be crazy to do. The payback would be like 37K for a 20K car.

The odd thing is they were telling me what dealers to go to, and really push for you to go. They wanted me to make a scheduled appointment with a person at the dealer, AND then the dealer called within 5 minutes wanting to set up a meeting as well.

It does not say "Stupid" on my forehead!!!
I also ran my credit scores today and they were all in the 690-670 range.

A cheap temporary car will have to do for now.

[Amy26]

I can't believe you got a 23% with those scores...maybe its because you're not discharged... you're barely out of your 341. I got a 17% interest rate with a 589 score... so, I'm pretty sure you can do way better if you wait till after you're discharged.

[jribe]

yeah just wait for discharge. Right now we have just one car; and we were looking into buying something cheap- but i'm just worried about paying a lot in repair bills and it being unreliable. So i figured i'd apply at one of those "bad credit" places and see what i get..

So Roadloans approved me -at 26.49% Can you believe that? I haven't filed yet though; so i have two vehicle repo's, muiltiple lates/chargeoff's on the cc's etc. So obviously my credit is horrible.

I'll just wait until after we file and are discharged and we'll make do with what we have now...

I just couldn't believe the rate! I honestly don't know who in their right mind would accept something that high?

[aces67]

I'm still waiting around. We have a new baby coming in April which will max out the seating in my current car. I'm trying to wait until February to buy something. That way we'll have more positive tradelines showing, we'll be farther out from our discharge and we can put our income tax refund down.

I don't want any hard pulls on our credit so we're not even going to apply until then.