It depends on whether the dealer reports loans or timely payments to the credit bureaus. You sometimes don’t get to improve your credit score with one of these car loans. How much money down is required typically depends on the price of the vehicle you finance. Additionally, these dealerships usually require a down payment. As long as you have the income, you should be able to finance a car. Instead of relying on your credit, they look to your income to determine approval. They're not concerned with whether or not you have a bankruptcy listed on your credit reports. This one-stop shop makes buying a financing a vehicle easy, plus many of these dealers don't check your credit. What makes these dealerships unique is that they’re also lenders, so you don’t have to worry about any third-party loan providers. The easiest type of dealership you could work with is a buy here pay here (BHPH) dealer. If you didn’t, then you need to head to a different lender or dealer to get financing. Keep in mind this is a viable option if you reaffirmed on the loan. It’s not a guarantee, but they may accept you – and you may receive a better interest rate compared to a special finance or buy here pay here dealership. If you reaffirmed on your auto loan during the bankruptcy and you weren’t delinquent up until that moment, the first place you should look for financing is with your current lender. Auto Credit Express can help you find the right car dealers who deal with bankruptcies near you. If you need to finance a vehicle with a bankruptcy, you usually need to work with the right type of dealership or lender since your credit score drops. A Chapter 7 means there’s a chance you could lose your home or car, and a Chapter 13 means it’s going to take years to complete. No matter which type of bankruptcy you file, it’s never easy having to go through one.
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