Does anyone have any advice on who to apply with for a used auto loan. I'm in the middle of a CH7, so nothing is finalized there but my parent will co-sign with me. Looking for under 9000. Household and PeoplesFirst have already declined me. Help!!!! I need wheels in under 3 weeks. Thanks guys.
I'm almost positive that you will be declined for any credit until your BK is discharged. No one would lend to someone knowing that it could be included in BK immediately even if that is not your intention. Sorry, how long ti the BK is final? Kim
Do you have previous good auto credit? Do you have at least 1k to put down? Was your BK for medical reasons? Do you currently have any good accounts on your bureaus of a few thousand dollars or more? Don't reply to these questions. If you can answer yes, I can lend advise if you're working with an auto dealership's business manager. If YOU were turned down by Household Retail (meaning you - not the dealership - applied directly to Household), have the manager send your application to HAFC (Household's automotive finance division that most dealerships have an agreement with). As a last resort, have them send your application to Cap One, AmeriCredit, or TransSouth if they do business with them. WARNING: You could be facing rates between 17.95-23.95% interest on a Rule of 78s loan. I hope this helps. CardKid
Hi kozman, Before I had any clue, in the midst of my despiration, Triad Financial came through for me. Phone # 800-879-9756. I bought a used Dodge Gran Caravan with low miles. the rate is 16% but I wasn't expecting any better with 10 derogs and no open accounts also 15 inquiries at the time. they have been fair to me so far and even let me change my payment date so it is ofset from my rent due day. good luck in what ever you decide
