Services
Insurance
Loans
Repairs
Advice
About

"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?

"

avatar
Johnny Puckett · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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. “
View full answer 
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

Join 4M+ members in lowering their car insurance

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