Sub-Prime Credit Financing

The day the bankruptcy is discharged, you qualify for a auto loan. Most lenders prefer to grant auto loans immediately after discharge. They view this as the best time to grant a loan simply because at this time you have no obligated debt. Simply put no debt creates the best option for you to complete this obligation.

Yes you can. There are a limited amount of lenders that will approve an auto loan after the hearing of creditors. This may be a good option for you if you are returning your current auto loan to the lender as part of your bankruptcy. In many cases the car has to be returned before discharge leaving you without a car. If this is the case we have options for you to consider.

This is a tough question to answer. Rates can be as low as 3.99 percent. In the case of a bankruptcy lenders use a scoring model called ”fair isaacs”. This scoring model takes into account other criteria such as, job time, home time, and current debt ratio’s. With this, many times you may have a low credit score but a high fair isaacs score and therefore qualify for a great rate. There are also options you can explore that may actually increase your credit score. Federal regulations grant you certain rights regarding your credit score that can increase the score. For more information on this please call us.

It makes no difference to the lender if it is a new car or a used car. Some lenders prefer new over used and will often have incentivized programs for this. Others will prefer to finance pre owned automobiles. Ultimately it will be up to you and the type of payment you would prefer and what your current income will qualify for.

The quick answer to this is no. A credit score is created through a complicated algorithm. To help you best understand, this algorithm takes into account the most recent credit you may have. The quicker you add credit to your credit file the quicker the credit score will rise. In the majority of cases your credit score will be higher at the time of discharge than it will be 2 to 3 years later. For a more detailed explanation please do not hesitate to call us.

Yes, you can. We counsel you on how to increase your credit score quickly and when to seek out refinancing the auto loan. Our goal is to help you rebuild you credit history quickly.

Yes and we are glad to assist you with this. We know your history and because of this we can use our relationships with the lenders to help you.

In our store we have over 60 years of experience with helping people who have challenged credit. We have programs specifically designed to address these needs. Plus you are dealing with people who have been thru the same tough situations and have overcome bad credit obstacles. With us we have the real life experiences to help you and the relationships with lending institutions you will need. We sell you not your credit score.