Got a car after BK

[amyl]

Well..yesterday was a good day. After fighting with the BMV to cover my reinstatement fees to be covered under the BK..they did and my driving test was yesterday.

I passed the driving test (not gracefully) and went to see if I could possibly get a car. I ended up getting the best deal at JD Byrider (not where I wanted to go). I got an Alero and I love it.

My sister has one of these and it has been awesome for her..so I figured it would be ok for me too. Hopefully things are looking up for me. Now I am just awaiting for my credit to start going up and awaiting the dispute info from the CRA's.

I have this site to thank for all the info I have been provided. I truly appreciate it

[FilingOnMyOwn]

Congrats on the car. Alero is a good buy, its good quality yet has one of the lowest resale values after buying new = meaning you get a cheap used car. Too bad its from jdbuyrider tho, do they even report to the credit bureaus?

[conan55]

I've got to agree, is it what you really wanted? Or, was it just available? Don't settle, today Ford Credit announced that they were taking subprime borrowers on 0% loans for up to 72 months. Anything new is great, but it doesn't stay new, and you're faced with the reality of an old piece of junk, because the shine faded off the new piece of junk.

[FilingOnMyOwn]

I would think a good used oldsmobile to be better than buying a new ford and taking the depreciation hit. It depends on the terms and interest tho.

[macahs]

Literally within days of our BK discharge, we were approved for 42k through GMAC when they had their 0% for 72 month promo. It may have had to do with the fact that I've had GMAC for several years and almost always was on time w/ my payments. I'm sure it also had to do with the fact that by paying off my 2003 Silverado I had w/ them- I was basically reaffirming. The other option they knew was going to happen if they didn't get us into the new '06 Silverado was giving them back the old one.

In any case- our scores were very low because I obviously had no time to start disputing anything. However, we called around to a million places (used car dealerships) and no one would even look at us. Even 'Buy Here Pay Here' was going to be $3-4k down and 21% interest - AND paying every week/every other week.