BK friendly new car companies?

[ryanr623]

A little background about me and my status.

-CH 7 discharged a year and a half ago.
-I reaffirmed my car even though it was at 25% interest due to bad credit. Yes, 25% interest. I have NEVER missed a payment on it in 3 years. Since BK i have a year and a half of on time payments on it.
-I got a credit card in my name after BK and have never missed a payment.

Credit scores : 588 - 601 - 610

I am looking to lease a new car. I have always wanted to. Being out of BK for a year and a half i think its time. Has anyone had success getting a NEW CAR lease and were in a similar status? Or does anyone know what car companies are BK friendly? I am looking at toyota or nissan.

[ryanr623]

Actually just used myfico, and my score is 638

[IBroke]

I think Ford (Ford Credit, that is) is quite BK-friendly - they often offer quite good interest-rates.

Leasing after BK is harder than financing though.

[ryanr623]

I have heard that ford is one of the best. I just wish i liked their cars better :p. Also, do you know if myfico.com is the fico score that dealers use?

[2011]

I have heard that ford is one of the best. I just wish i liked their cars better :p. Also, do you know if myfico.com is the fico score that dealers use?

There is a such thing as (car) loan enhanced scores... basically it uses that car payment history ( and possibly mortgage) a lil stronger than normal myfico scores

[IBroke]

There is a such thing as (car) loan enhanced scores... basically it uses that car payment history ( and possibly mortgage) a lil stronger than normal myfico scores

Not sure about the mortgage-part but yes, dealers use the auto-enhanced score for car-loans which is confidential to consumers. Your dealer, of course, might reveal it to you.

[ryanr623]

But myfico is generally the most accurate and accepted credit score? Im confused about it all. My vantage scores are near 700, my myfico is 638. I know that the new vantage scores tend to be a little higher based on the scale.

If myfico uses TU fico, how do i get my experian and equifax fico?

[daylate]

I think there is just one FICO score. Anyone?

[Fallonedward]

That is my problem, their is not one car in the Ford lineup, I would want even for Free.

I have heard that ford is one of the best. I just wish i liked their cars better :p. Also, do you know if myfico.com is the fico score that dealers use?

[IBroke]

But myfico is generally the most accurate and accepted credit score? Im confused about it all. My vantage scores are near 700, my myfico is 638. I know that the new vantage scores tend to be a little higher based on the scale.

If myfico uses TU fico, how do i get my experian and equifax fico?

Your equifax FICO is available at myfico as well - the FICO of experian is not available to consumers any more. Only the FAKO-score (meaning an UNofficial score like vantage).

[IBroke]

I think there is just one FICO score. Anyone?

Nope, there are 3 (Experian, Equifax and TransUnion) - as said before, Experian is only available to creditors.

[tcreegan]

Hi all,

To my knowledge, Experian is trying to use their own FICO-clone score. Experian Plus or something like that.

Tom in Colo

[ryanr623]

I signed up at myfico, so i will try and find my eq score, thanks!

[hamburgervol]

Not a lease but Capital One has been good to me at 9%. During active BK, before discharge, I financed with a company called Tidewater Motor Credit. Interest rate was 18% at 60 months, which was bad but I had to have a good commuter. Twelve months after discharge I refinance at 9% at 48 months. My payment dropped about $60 per month and I'll saved about $2800 in interest over the life of the loan.

[dumpinmydebt]

Not a lease but Capital One has been good to me at 9%. During active BK, before discharge, I financed with a company called Tidewater Motor Credit. Interest rate was 18% at 60 months, which was bad but I had to have a good commuter. Twelve months after discharge I refinance at 9% at 48 months. My payment dropped about $60 per month and I'll saved about $2800 in interest over the life of the loan.

That's not too bad!