subject: Is there a chacne for auto financing after a bankruptcy? [print this page] Is there a chacne for auto financing after a bankruptcy?
It is not everyday that you will find dealerships in your local area that are willing to work with someone that has a bankruptcy on the credit report and that are looking for auto financing. But believe it or not there are more out there then you may think. There are some great sites that could get you matched up with these dealerships that have no problem working with buyers that filed for bankruptcy.
Bankruptcyautofinancing.com is one of those great sites that gives bad credit car buyers who have filed for a bankruptcy in the past and need a second chance at auto financing after a bankruptcy. This is a life saver for most people because after a bankruptcy they are looking to get things back on track but could not find anyone to help.
Bankruptcy car dealers give you a much need chance to rebuild or re-establish your credit by extending an auto loan to you for the purchase of a vehicle. Keep in mind that there are some requirements; you must also live in the United States or Canada. You have to have a minimum gross income monthly of $1,500. Job time is very important you have to have at least one year with your current place of employment.
When it comes to your bankruptcy that was filed in the past, whether it is a chapter 7 or chapter 13 it has to be discharged with the proper documentation showing it is completed. When you file for any type of bankruptcy and for some reason you were not able to finish the program and got dismissed many lenders and dealers don't like to see this. It shows them that something had to have gone wrong, it also shows you can't complete you prior arrangement so why should we give you a chance at an auto loan.
They have some exceptions to these rules but you would have to be able to prove proof or a story behind what happened. When trying to get things accomplish after a bankruptcy they know things can be tough but if you get the chance to recover you want to be able to make the best of the situation.
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