Chapter 7 bankruptcies and more commonly, chapter 13 bankruptcies leave a mark on your credit report that lasts for 7 to 10 years. Obviously, you're going to need a car loan before those 7 to 10 years are over. So where can you go to get an instant approval for a car loan after you have had a bankruptcy.
The first thing you need to understand and keep in mind is that your bankruptcy has to be completely closed, discharged and over with, before you can logically expect to be able to obtain auto financing anywhere. While it has been said that there are some finance companies that will give you a car loan while you're still in a bankruptcy, you don't even want to think about how high those interest rates are and the terms of those types of loans.
So if your bankruptcy is fully discharged or dismissed and is completely over with then you can obtain instant approval auto financing. While your local dealership may not be able to do this for you, there are legit lending networks and lending services on the Internet that can help you to get what you need. Keep in mind, just like everything else and every other opportunity that you come across, you cannot trust everything as being legit.
Getting in instant approval online is very simple and you may be surprised that you can actually get better terms than you may be expecting. As always, it's a good idea to shop around even when you have bad credit.
No comments:
Post a Comment