This might be a dumb question, but can you get a car loan BEFORE you are discharged from your Chapter 7? We are supposed to be discharged later this month but our daughter needs a car for school now. We have about $1500 to put as a down payment and were looking for a loan of about $5000. Any chances that would happen right before discahrge?
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We are victims of the economic crisis. Where is our bail out? -
I found one place in my research but I was turned down. The two people I spoke with their absolutely knew nothing about BK. Blew my mind. I hated to do it since they apparently charge crazy interest rates and are very restrictive in what you can get. But my car died 3 weeks before discharge and I live very far from work with no public transpo.
Hubby and I have been driving 200 miles a day and dealing with 16 hour days. I'm crossing my fingers that I can find something now that I'm discharged.
Good luck! Hope you find something!Chapter 7
Filed 4/21/10
341 6/9/10
Deadline to file a complaint 8/9/10 -
You will pay out the ear for interest (probably 18 - 25 %) but yes, you can do it. If you can wait a few weeks, you will get a better interest rate after discharge.
For pre-discharge, try Hendrick Honda Preowned Online. They have dealers in several areas of the country and approved me before discharge, but I decided to wait it out and am now 10 days post discharge and now have many dealers willing to finance me.
Good luck!!Comment
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