After I lost everything, I had no idea how to buy a car after bankruptcy.
Don’t give up… in the words to follow you may find the hope you’ve been looking for.
Even if your finances have taken a big hit and you found yourself in bankruptcy court, for whatever reason, it doesn’t mean you might not be able to qualify for a car.
There are lenders who loan money to people in bankruptcy all the time. It is true you may have to pay a higher rate of interest right now, however you can get a loan for a car.
I’ll be the first to admit that after my bankruptcy, I didn’t like paying a higher rate of interest on my car loan, anymore than you probably do. However, keep in mind you are rebuilding your credit and getting a car that you need.
The higher rate of interest isn’t something you will have to contend with for the rest of your life. Once you rebuild and reestablish your credit you will be able to get a lower rate of interest on your loans in the future.
Now, let this all sink in for a moment…
The fact that you decided to read this article means you are serious about rebuilding your credit and getting a fresh new start after your bankruptcy.
Your situation is not hopeless.
As a result of what I’m telling you right now… you begin to feel a sense of peace in knowing that you have more options than you might have imagined before.
The truth of the matter is…
In the past bankruptcy was looked upon for those who were financially irresponsible or careless, however today there are many unforeseen hardships such as divorce, economic down turns and medical bills that can cause people to file bankruptcy.
Lenders understand that bad things can happen to good people and will try to work with you to help get you back on track again.
As a matter of fact, because your vehicle serves as collateral for the loan, a car loan can be one of the best ways to begin to rebuild your credit.
What You Need To Know About Lenders Expectations
There’s no doubt about it, the lender is going to look at your history of making car payments and mortgage payments in the past.
This being the case, your track record of how you pay your car loan back, will carry a lot of weight with the lender for giving you a new loan.
Lenders will also consider your monthly expenses and income when evaluating your loan.
The reason for this is, they don’t want to see you over extend yourself, where you can’t afford to pay back your loan.
If making the monthly payment looks like a burden for you every month, the lender may want you to put more money down, so it is easier for you to make your payments.
Find out how you can get your car now.
Don’t Expect To Get A Luxury Car
Here’s the bottom line. Don’t expect to get a new Mercedes or BMW. You are more likely to get a “Yes” on a used vehicle below a certain price range, such as $20,000 (depending on your financial situation this number can vary).
Your financial situation may look hopeless to you right now.
However, I’ve got good news for you…
We have many different cars, programs and guidelines to meet your needs.
Listen closely to this…
Even if you don’t have any money for a down payment, don’t give up. We may still be able to help you get a car.
Contact us today and find out what your options are.
You may be surprised what we can do for you. You could be driving home today in a nice, late model car with payments to fit your needs and budget.
You can take a peak at our inventory right here.
There is only one solution to all of this… contact me now, so we can work together to get your new car. I can’t help you if you don’t contact me.
Give me a call at 720-266-4941 and ask for Mike Lather or send me an email and I’ll get back with you shortly.