They Just Can Not Wait, Can They

[booboo]

2 Days after filing our BK 7, we get this offer in the mail for a "Pre Approval" for a new vehicle at competative rates...with the disclaimer that vehicle can not be purchased until BK 7 is discharged.

I guess they wanted to be the 1st to get to us since the envelope was hand written.

BooBoo

[HopelessInWA]

Wow.

[pa308]

You'll have tons of those coming in the mail..............

[bxphae]

wow lol thats amazing, both in a good and bad way.

[debtmonster]

Woo hooooooooo! I hope I get a ton of these in the mail! I can't wait!!!! YEE HAWWW!!

[RackingJ]

You'll have tons of those coming in the mail..............

That you will. We got our first one a few days after filing and have got at least 2 per week in the last 3 weeks since.

[debtmonster]

That you will. We got our first one a few days after filing and have got at least 2 per week in the last 3 weeks since.

SWEET!!!!

I hope the car dealers remember to hound me.

How do the car dealers get notice of your bankruptcy?

[MSbklawyer]

2 Days after filing our BK 7, we get this offer in the mail for a "Pre Approval" for a new vehicle at competative rates...with the disclaimer that vehicle can not be purchased until BK 7 is discharged.

I guess they wanted to be the 1st to get to us since the envelope was hand written.

BooBoo

Yes, your debt/incom ratio has gone way down once you are discharged. Plus, potential creditors know that you are not eligible for another chapter 7 discharge for 8 years.

So be careful.

[jadams]

SWEET!!!!

I hope the car dealers remember to hound me.

How do the car dealers get notice of your bankruptcy?

They buy the names from aggregating companies similar to lists a business might buy from InfoUSA or the like. One Example

Since the filing is public record the names and demographic information can be packaged and sold much easier (and thus cheaper) than buying pre-screen names from a credit bureau.

They probably can't get a lot of the people they mail financed (especially in this market), but the cost of the names and mailing is cheap enough that the few people that they can get financed make up for it. Post-BK financing will be high interest, high down payment -- more room for the dealership to get some profit.

[debtmonster]

They buy the names from aggregating companies similar to lists a business might buy from InfoUSA or the like. One Example

Since the filing is public record the names and demographic information can be packaged and sold much easier (and thus cheaper) than buying pre-screen names from a credit bureau.

They probably can't get a lot of the people they mail financed (especially in this market), but the cost of the names and mailing is cheap enough that the few people that they can get financed make up for it. Post-BK financing will be high interest, high down payment -- more room for the dealership to get some profit.

So they are paying $110 per thousand names. So if they want to buy names for a mailing drop of 10,000, they have to pay $1,100 for the list and then maybe $.38 to $.42 cents per name or whatever deal they get on a bulk rate mailing. So an easy $5,000 to spend on maybe 10,000 people and many of these people are going to need a car after their discharge.

Those dealers could make this $5,000 back after selling maybe 1 to 3 cars!

[frogger]

I haven't got a credit card offer in MONTHS from anyone. I wonder if it had to do with the fact that I sent everything back to them in the prepaid return envelope. Never filled it out, just stuffed the envelope with all of their stuff plus any other trash mail I had around. Seems that after a couple of months of that, I got off everyones list...

[RackingJ]

Apparently Nissan is a BK friendly company. All the offers I've gotten were from Nissan dealers and one Toyota. None of them say to wait till after discharge either. Almost all of them say to come in after our 341.

I got another today from a nearby Nissan dealer and it even included a $1000 off voucher. They really want to sell some cars nowadays, don't they. LOL

[debtmonster]

Apparently Nissan is a BK friendly company. All the offers I've gotten were from Nissan dealers and one Toyota. None of them say to wait till after discharge either. Almost all of them say to come in after our 341.

I got another today from a nearby Nissan dealer and it even included a $1000 off voucher. They really want to sell some cars nowadays, don't they. LOL

SWEEEEEEEEEET!!

So should I try to get a car after my 341 instead of waiting for discharge then?

[BkinTX]

We get tons too. File 13.

[debtmonster]

You guys are banking if it you're doing a 13. Us poor people file Chapter 7's.