Depending upon whether or not you filed a Chapter 7 or Chapter 13 bankruptcy, auto financing is available for you however, not everywhere. The fact is simply that there are very few lenders that will offer you reasonable interest rates and payment terms without asking for a very large down payment. This is for obvious reasons as if you have gone through bankruptcy, you have demonstrated financial instability. The good news is that there are lenders that are willing to help you, it's just a matter of finding them. For many people that do not have specialized lenders in their areas that focus on helping people after a bankruptcy discharge, it can seem like there is nowhere to turn.
With so many people filing bankruptcy in America, due to the meltdown of the economy, there are lenders that are specialized and arranging auto loans for people in this situation. One thing that you have to keep in mind is to make sure that you're avoiding any lenders that engage in predatory lending practices. These are readily identifiable based upon the high interest rates and enormous down payments that are requested.
With some companies helping people after bankruptcy, it provides a good opportunity to rebuild your credit while driving a good vehicle that you can be proud to own. There is nothing worse than making high payments on something that you don't like to begin with. Fortunately there is help available and a few simply apply, you may be very surprised at exactly what you can qualify for based on your job time and income.
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