four years post-bankrupt ch 7

[student123]

Hi all,

Hope everyone is doing well! I'm four years post chapter 7 bankruptcy and unfortunately need a car. I haven't checked my credit score in a long time. I have significant student loan debt that I'm paying, have never been behind on any student loan payments. Have very little credit card debt (- 2000), have never been late on any CC payment since discharge. Never have been late on any car payment or rent payment in my life. My present car has been paid off for over two years, but is dying. I live in the MA area. Do you guys have any suggestions on where I should begin to look for financing for a vehicle? Thanks.

[NoMoreCards]

Based on what you wrote, you can probably get financing without much problem. You might even get a decent rate I suspect. Critical part is payments all on time after discharge.

[student123]

Thank you for your reply. Should I just start applying to lenders that tradtionally are accepting of bankruptcy histories? I guess that's essentially what my question is.

[TwentyTwelve]

CapitalOne Auto Finance is very bk friendly, and you could probably get a good rate. With your good rebuilding history, you should be fine no matter which route you go.

For reference, I got 7% rate with them just 6 months after discharge.

[Florida30]

I agree CapitalOne Auto Finance is a good start and bk friendly, its better to have that check (cash in hand) up front when shopping.....I applied 3 yrs outta ch. 7 bk and got a 3.61 rate on new car but ended up taking VW's rate of 2.9%. In today's car market I think they are eager to get cars sold. When I mentioned my bk to the sales guy he asked has it been over a 1 or 2 and said yes, he said no problem.

[tobee43]

I agree CapitalOne Auto Finance is a good start and bk friendly, its better to have that check (cash in hand) up front when shopping.....I applied 3 yrs outta ch. 7 bk and got a 3.61 rate on new car but ended up taking VW's rate of 2.9%. In today's car market I think they are eager to get cars sold. When I mentioned my bk to the sales guy he asked has it been over a 1 or 2 and said yes, he said no problem.

wow!! that is great to know Florida30. i'm here in florida and my only concern also is my 12 year car and we are also 4 year out of bk. although, i really am of them mind that i would rather drive what i can pay cash for in full then ever buy new again...although, on the other side of that coin is making certain one has a good relable car to not get stuck on the hot Florida roads

[student123]

Thanks everyone! Got approved for 2.99% financing through Justice Federal Credit Union.

[tobee43]

Thanks everyone! Got approved for 2.99% financing through Justice Federal Credit Union.

good one student!!!!!!!