Where can I get a car loan after filing for bankruptcy a few months ago?

I filed for bankruptcy recently, but I still need a car to get to work. I have $2,500 for a down payment, but I'm having trouble finding a lender. Where can I get a loan?

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Eric Schad
Answered on Apr 27, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“Most lenders won’t work with someone who recently declared bankruptcy. At this point, your credit is probably in rough shape and you ability to pay is hindered.
You could probably find a used car lot that’s willing to work with you, but they will be borderline loan-sharking you on the interest rate—probably charging in the 20% to 30% range.
The best advice is to take that $2,500 and pay cash for a used car. You won’t need a loan, you’ll have a set of wheels, and that’s really all you need at this point. Why go right back in debt when you don’t need to?”
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