car loan after bankruptcy

Car Loans after Bankruptcy

One of the first things we, John Amato Hyundai Superstore as a subprime specialist look at when you apply for a car loan after bankruptcy is to see whether you are discharged or dismissed from bankruptcy.    If you are discharged, you have a high chance of an auto loan approval with bad credit, because it shoes a successful completion.  A dismissed bankruptcy means that you did not complete the process per the court order and it could result in a rejected application.

When looking for a vehicle after bankruptcy, we suggest scheduling a time with one of our credit specialists.  This way they can walk you through your options that are available  Whether it is new or a preowned vehicle, our specialist will get you qualified the proper way for the lending institutions.  We make the process quick and simple

 

Benefits of After Bankruptcy Vehicle Financing

You have successfully completed your bankruptcy which makes you essentially debt-free, taking on a new debt can seem like a pretty scary idea.  The reality is that a post-bankruptcy car loan is in fact one of the fastest ways to rebuilding your credit score after discharge.

There are two main categories that the credit bureaus use to calculate your credit score: revolving credit, like a credit card or installment loan such as an auto loan.  The goal is to have at least one open account, and current without maxing out the available credit balance.  By financing a vehicle thru John Amato Hyundai Superstore, you can easily meet those goals with an open installment loan that has a balance with affordable monthly payments.  Each payment you make will be reported to all three credit bureaus and assist you to rebuild your credit fast.

Down Payments on Post Bankruptcy Car Loans

A down payment can be the make-or-break point in a car loan approval following a bankruptcy.  Lenders like to see that you are equally invested in the vehicle and willing to hold up your end of the deal and a down payment is your investment

Making an investment into the car is not just a benefit for the lender’s sake, but also your own.  By putting money down on a vehicle creates advantages you may not be thinking about long-term.  For instance with a down payment you will experience

  • Lower total amount owned on the loan
  • Lower monthly payments
  • Shorter loan terms

Hassle Free Car Financing for Bankruptcy Clients

Filing for bankruptcy is nothing to be ashamed or embarrassed of because you have giving yourself a clean slate to start over with.  John Amato Hyundai Superstore’s specialist in bad credit auto sales makes it easy for you to start rebuilding your credit quickly.   Our process is fast simple and secure.  Apply online   and schedule your appointment time to come in.

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