How can I get a car loan after a bankruptcy?

I filed for bankruptcy about 3 years ago. My car died about a month ago, and I tried to do without one, but I just can't. I need a way to get another car, fast! Is there any good way to get a car loan after going into bankruptcy?

Answer
Whether or not you can get a car loan after filing for bankruptcy depends on the type of bankruptcy you filed!
Chapter 13 can resolve within a three-year payment plan—so you may need to wait a while. Alternatively, chapter 7 ends within a few months but stays on your credit report for a longer time—making loans harder to come by.
Your best place to start looking for a loan is with lenders specializing in bad-credit or bankruptcy loans. These subprime lenders will offer loans with a higher interest rate and worse terms, but that may be your best option. Of course, you can always start with a subprime loan and refinance further down the line.
If you’d rather avoid the subprime loans, get a co-signer to help you secure better terms. If you have a close friend or family member willing to co-sign your loan, you’ll have more options with lower interest rates.
No matter your credit score, Jerry makes refinancing easy by comparing quotes from multiple lenders to find a rate that works best for you. If you’d like, Jerry can also help you save money by shopping for the lowest car insurance rates from over 50 top providers and sending the results straight to your phone!
Shannon Martin
Answered on Nov 01, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings — it's 100% free