If you are mulling post bankruptcy auto finance then be prepared to educate yourself properly about such loans. At first, start off by learning that securing car loan after chapter 7 or 13 remains a tricky proposition. You cannot really expect to wake up one fine morning and start looking up the credentials of lenders and expect to secure the best car loan deals after bankruptcy! No! Things aren’t that simple.
There are a lot of questions crowding your mind when you are applying for car loan during bankruptcy:
- During bankruptcy can I get a car loan with no credit history?
- How can I get a car loan with no credit?
- Is it possible for me to buy a car after bankruptcy?
- What kind of questions will the lender ask me when I apply for a car loan after bankruptcy?
- Will they reject my application at one go?
- Will they ask me very humiliating questions regarding my financial condition?
Can you get a car loan with no credit?
It is only naturally for you to be flooded with such questions before putting forward your application. A thorough research on the bankruptcy car loans will help you get sorted in a major way. Yes, it is difficult to secure car loans after bankruptcy. The lenders would try every trick in the book to take advantage of your financial situation by raising the rates of interest considerably. However, you should not really despair since you actually ARE getting the loan at the end of the day. Quite contrary to popular belief it is not altogether impossible for you to secure car loans at all.
It would be easier for you to deal with the “interest” related issues if you are comparing the loan rates offered by different lenders. In short, you should be careful enough to negotiate with at least five to six lenders before opting for a deal. If you still have not visited the website www.carloanstudent.com please do it without delay. Go through its wide array of car loan deals in a bid to ensure that you are opting for the best deal suiting your needs.
