1 & 1/2 year BK Auto Loan Question

[schel]

We are 1 & 1/2 year post BK and our Malibou finally is on its last leg.
We are possibly looking at having to get a different vehicle, and can only afford maximum of $200.00/month including insurance.
Where is best place to look at getting a loan with best rate. Anyone know?
Thanks.
Schel

[newbie2]

We are 1 & 1/2 year post BK and our Malibou finally is on its last leg.
We are possibly looking at having to get a different vehicle, and can only afford maximum of $200.00/month including insurance.
Where is best place to look at getting a loan with best rate. Anyone know?
Thanks.
Schel

At $200 per month including insurance you're better off looking at a decent used vehicle. Talk to your bank or credit union. Since you are 18 months post bankruptcy they may be willing to help you. Good luck!

[schel]

At $200 per month including insurance you're better off looking at a decent used vehicle. Talk to your bank or credit union. Since you are 18 months post bankruptcy they may be willing to help you. Good luck!

We are looking for a used vehicle, but still have to finance it. Don't want to bite off more than we can chew with anything higher for payment.

[SMinGA]

With that amount - you will have a tough time, I am afraid. You'll need full coverage on any vehicle that is financed and that payment will depend on the car, your driving history, etc. Could easily be $50-100/mo at best. Leaving $100-150 for an actual car 'payment'. Depending on what rate you can get, that leaves you financing no more than $6-7k, assuming someone would lend that low of an amount and allow you to pay it over 5 years. Lesser loans tend to also be shorter payback time so may not be possible to get an actual car loan with so low a payment. If you can, a local credit union is your best bet.

There is financing 'out there' for after bankruptcy but rates will depend on you. If you've re-established and/or cleaned up your report (making sure nothing reports erroneously), income & job stability, down payment. There is a sub forum near the bottom about post BK car financing.

[schel]

Update, it's official... My Malibou is dead... We are looking for a vehicle. Called our bank, next step if we don't qualify through our bank, guess we will try Capitol One.
Wish us luck.
Schel