PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
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?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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?”
View full answer
- Gregory R.
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
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
.jpg&w=64&q=75){kind=avatar}
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
