Approved by Capital One Auto

[elflaco]

We finally received our Chapter 13 Discharge on June 17th (after the trustee took over 120 days just to audit our account and our idiot attorney forgot to file a simple form resulting in our case getting dismissed without a discharge, but I digress), and I applied with Capital One Auto on 06/29 to replace my 10 year old truck which I affectionately refer to as "The Deathmobile". I asked for $35,000 over 60 months, though the car I'm looking at is less than $25,000 as I wanted the extra cushion.

We got approved for $40,000 at a rate of 2.34%! I honestly wouldn't have blinked at 6.9% nor been surprised at 8.9%. And I really can't say enough about the customer service and support we've received from COA. If you've received your discharge and need a car, by all means, give Capital One a shot; chances are you'll be pleasantly surprised.

[justbroke]

To think that many people believe that a Chapter 13 is a death sentence. Even your "deathmobile" has found otherwise!

Congratulations.

[lee307]

That is awesome. Do you happen to know your fico score at the time of approval? I make my last payment next month and will be in need a new
vehicle. I honestly don't want to go back into debt but I have decided I will only owe on cars or houses in the future.

I joined a local credit union days before filing so I could build a relationship. Since then a great friend started dating the head of the loan department
so now I'm apprehensive to apply for a loan there. I am worried she will see the BK. I know BK was the right choice but I still don't want people
to know I filed

[Snax]

Never be ashamed of making an intelligent choice! While we were financially desperate when we filed, we also had made the conscious choice to toss all emotion and shame out of the decision. From a strict business perspective, it was simply stupid not to do it.

That said, we were impressed with Capital One when we used their Blank Check three years ago to purchase our current vehicle. Don't discount them, but so long as you are putting an inquiry on your report, don't discount the credit union either! BUT DON'T BE ASHAMED! YOU MADE A RESPONSIBLE BUSINESS DECISION!!!

[katztoo]

That is great! We also got approved by them 6 months after chapter 13 discharge at 2.94%. That was a year ago. The car purchase went smooth and they have been great to do business with. The dealer tried to beat that but couldn't even come near their rate. Our credit scores were around 600 at the time.