Please help, Advice on how to finance a car after discharge.

[seconds]

We were discharged on Nov of '09. We have to give up one of our vehicles and both my husband and I work, so we need two cars. I called a local dealership to see about financing with them. I was told that I would need at least $5-7 grand to put down to get a decent rate. I don't have that kind of money. I'm $1200 away from paying off our other vehicle. We have 626 and 629 credit score post BK.

I tried Cap One, declined for a CC, but told I can still apply for an auto loan. I did, and on their website it said it was approved, and before they can send me a check, they need some verifications. When I called, they said to try again tomorrow because there was an "error" on my application. So, I'm going to wait until tomorrow to fix my application with them.

But just in case they turn me down as well, who has applied and has been successful with any other lenders? I hate car dealerships. I don't want to put any money down right now either. Any suggestions?

Thanks.

[aces67]

I suggest you talk to another dealership. The one you talked with may just not want to mess with you.

We bought a used 08 model just a few months after our discharge. We applied online with Cap One- Approved at 17.75% and Chase- Denied. Then we went and talked to the finance manager at our local dealership. He got us approved through Cap One-15% and Chase 12%. We had to put $1500 down though b/c they wouldn't finance Tax, Title and License fees.