Ok... Having some trouble... need some opinions

[rameleg]

Situation:
we were going to reaffirm our Ford Escape.. someone ran a redlight and totaled it..
the insurance is paying exactly what we owe to Chase financial
cptr 7 BK discharged 1wk ago

We NEED another car...
According to Creditkarma
my score: 608
Wife: 703
I have paid off 4 previous cars
wife 3 previous
NO repos or lates..

together we are salaried(not including bonus etc..) at over $120k (me $50k her 70k)
time on job
Me:9mo
Her 3mo.
this is the reason we had to file BK.. BOTH lost our previous 3yr+ jobs.. and had NO income for a while

Pulled an actual Equifax on my wife only said 610.. wonder whay the HUGE difference
Had a local dealer pull transunion.. he said only 565 score!!!!!!!!!!!!!!!

only roadloans wants to approve us.. and thats completely useless to us... "prefered" delawer is 2hr away and has CRAP for cars.. I'm not going to spend $15k on junk while paying 20% interest

Does anyone think we would have luck financing through a dealership instead of looking online?.. I'm stuck between a rock and a hard place (cant buy a "beater.. she Drives 120 miles a day..)

[LSUTiger32]

Situation:
we were going to reaffirm our Ford Escape.. someone ran a redlight and totaled it..
the insurance is paying exactly what we owe to Chase financial
cptr 7 BK discharged 1wk ago

We NEED another car...
According to Creditkarma
my score: 608
Wife: 703
I have paid off 4 previous cars
wife 3 previous
NO repos or lates..

together we are salaried(not including bonus etc..) at over $120k (me $50k her 70k)
time on job
Me:9mo
Her 3mo.
this is the reason we had to file BK.. BOTH lost our previous 3yr+ jobs.. and had NO income for a while

Pulled an actual Equifax on my wife only said 610.. wonder whay the HUGE difference
Had a local dealer pull transunion.. he said only 565 score!!!!!!!!!!!!!!!

only roadloans wants to approve us.. and thats completely useless to us... "prefered" delawer is 2hr away and has CRAP for cars.. I'm not going to spend $15k on junk while paying 20% interest

Does anyone think we would have luck financing through a dealership instead of looking online?.. I'm stuck between a rock and a hard place (cant buy a "beater.. she Drives 120 miles a day..)

OK, I can't help myself so first of all......you could buy a "beater" (I like to call them "reliable used cars" since I drive around 85 miles a day in mine and have done so for the past two years) but you are saying that you are chooising not to. It's funny how the cars don't know how many miles they have on them, they just keep working until something goes wrong. What's even cooler is that I watch friends of mine bring their 2009 models in for warranty service while my 2000 model continues to run like a champ. I just think you should keep your options open. If you have to go with RoadLoans, believe me you aren't going to want to be financing a brand new car with them. You might as well start burning $100 bills.

That said.......have you spoken to Chase about this? Maybe it is already done, and I know no one at Chase has a brain but maybe they would have been willing to keep the loan in tact and transfer the lien to the new car. If that's already impossible, I am going to go back to having you consider a nice used car from a reputable dealer. You may be more qualified since you would be dealing with a much lower payment and the interest won't eat you alive.

Bottom line, one week post discharge is going to be tough other than what you have already found. I know some people have had success with Capital One but I don't think it was one week post discharge. You may also want to check with any decent used car dealers in your area that will hold the note. I hate most of those places but I actually did find one locally that is not a total ripoff. It's a horrible option, but it is an option. You don't have enough options to rule any of them out at this point.

P.S. Your CreditKarma score is worth what you paid for it............that being NOTHING.

[rameleg]

its already done... chase has there $$..
I got a ton of dealership preapprovals.. but I bet the rates are GREAT...lol.. well I guess I will just bite the bullett and ride the bus for a while(i live in a smaller city.. public transportation is TERRIBLE)... guess the wife can have my car...

[CindyLou]

Capital One Blank Check financed us right out of BK!! Our income was similar to yours.

[backtoschool]

I would try Capital One and see what kind of rate they offer you.

[prestlrp]

Capital One Blank Check financed us right out of BK!! Our income was similar to yours.

Hi, how soon after your discharge did Cap1 approve you and do you know your scores? Also, did you have good credit before BK?