Chapter 13 Bankruptcy Car Loans
Has anyone had a chance to get a car loan after a discharge in Chapter 13?
We are about to pay off our plan for Chapter 13 bankruptcy. Sometime after our discharge is given, we want to buy a new car. We planning, as 40% down. We have a good credit history with auto loans past and now can afford a big car with ease of payment if approved. Does anyone has been there through this and / or know if it is difficult to approve a car loan after a Chapter 13? What kind of interest rates can be expected if approved?
Your first step should be a trip to http://www.lifeafterbankruptcy.com This site has lots of useful information for people trying to recover after bankruptcy. They have regular newsletters, and one of them address this problem. From a practical standpoint, if you offer a 40% and has demonstrated your income is safe and you have your budget under control, crazy car dealer will let you in the door.
Can I keep my car if I file Bankruptcy?
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