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wow... why to reaffirm your car

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    #1

    wow... why to reaffirm your car

    I filed a year ago and never missed a payment before, during or after bk. I am looking for a new car. I didn't know it was possible but toyota financial, who is notorious for not even looking at people with bk's.... gave me a 2.9%. I am soooo happy and surprised. My only thoughts is that is because I never missed a payment on my car.

    Credit
    Eq - 638
    Ex - 644
    TU - 552? Which they pulled as well. Still have no idea why this is so much lower
    Tags: None
    #2
    Originally posted by ryanr623 View Post
    I filed a year ago and never missed a payment before, during or after bk. I am looking for a new car. I didn't know it was possible but toyota financial, who is notorious for not even looking at people with bk's.... gave me a 2.9%. I am soooo happy and surprised. My only thoughts is that is because I never missed a payment on my car.

    Credit
    Eq - 638
    Ex - 644
    TU - 552? Which they pulled as well. Still have no idea why this is so much lower
    Congrats!

    There you have it. All those stories that a BK itself prevents you from getting a (decent) car-loan is just hot air...
    Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
    FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
    FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.

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      #3
      That is great. Be wise and stay in that, you know, "New Start" budget. Don't get carried away as we don't want to ever see you here in 8 years (except to help others, of course). 'Hub
      If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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        #4
        That's good to know. Thanks for sharing your story. I will be in you same boat in another year. I am not reaffirming my car, but I also have not missed a payment and don't intend on it.
        Filed Ch. 7 on 9/30/10---341 11/12/10---Report of No Distribution 11/16/10

        Discharged 1/21/11 Closed 1/26/11

        Comment

          #5
          Yeah for sure. I figure the banks may be hurting a little bit right now as well. When I signed the papers, the total amount in interest i am gonna pay, for a $20,000 truck, is $1200..... they are taking a chance on me for 1200 bucks? Confused, but happy

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