"Is it hard to get a car loan after filing for Chapter 7 bankruptcy? "

"I had to file for Chapter 7 last year. All is finalized now, I’ve got a new job, and my credit score is at 650. Would it be possible for me to get an auto loan right now?


Apr 26, 2021
Answer provided by
Johnny Puckett
Answered at Apr 26, 2021
“It’s absolutely possible for you to get a loan. You shouldn’t have that much trouble finding financing.
However, you will be considered high-risk to lenders and should expect to pay more than you would have before your financial troubles started.
On top of charging a higher interest rate, most lenders will also require a larger down payment. This can make buying a car after a bankruptcy a bit difficult, but know that the longer you wait after a bankruptcy, the better your options will be. “
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