Will need a car immediately after chapter 7

[bigdrov1x]

I will need a mode of transportation immediately after my chapter 7, and maybe before it because they may file for a release of stay. Is it even possible to receive a car loan right out of chapter 7. I keep hearing different things. Some say that you have to wait at least six months to a year, others say that the new car offers come in immediately after they file. I am not trying to get a new BMW, I just want a nice economy car, I am not trying to spend more than 13k on a car. Can anyone here shed any light on the real situation as it is now. I am aware of people getting a little keyboard bravado and embellishing the situation. Just want to hear the cold hard facts.

[LadyInTheRed]

Many people have reported financing cars immediately after BK. Others get turned down. It will depend on your overall financial and credit picture and the lender.

[justbroke]

I think the most important issue with financing a car after discharge, is your pre-filing handling of automobile loans. If you have lots of late pays and repossessions, your auto-FICO score (auto-enhanced FICO score) would be heavily impacted. When I was discharged, my auto-FICO score was over 690 (if I'm recalling correctly). I was shocked. I was able to get a decent loan from Navy Federal 6 months after discharge.