Bankruptcy Car Loans
Did you recently file bankruptcy only to find that your current vehicle has broke down and you are in desperate need for a new one? Do you think that your bankruptcy will automatically disqualify you for the car loan that you need or that you will be stuck with an unreliable car simply because of your credit? If you were to stop worrying, you will find that there really is life after bankruptcy and just like there are car loans for perfect credit, there are car loans for people after bankruptcy out there too; you just need to know where to find them.
Filing bankruptcy does not mean that you are a bad person or that you don't pay your bills, it simply means that you fell on some hard times and due to unforeseen circumstances, you chose to get a fresh financial start so you need to make the most of it. Your bankruptcy loans will get you the car you want at the price that you need. There many different circumstances that forced you to file bankruptcy including:
- Unforeseen Medical Bills
- Loss of Employment
Any of these circumstances can force even a person with money in savings and perfect credit to file bankruptcy. It is important for you to know that there is hope and there are options for you to finance a vehicle, even after your bankruptcy.
Is There Going To Be A High Interest Rate
Just because you go through second chance financing does not mean that you are going to be stuck with an interest rate that will send your monthly payments through the roof. Your lender wants you to be able to make your monthly payment so they try to do everything they can to keep it inside your budget. Repossessions look bad on the lender, just as they look bad on you so the lender wants to make sure you can afford the payments on a car that you will enjoy. While you may pay a slightly higher rate than the traditional bank, you will pay far less than the interest rate on second chance financing of the past.
Where Are These Loans Available
The beauty of guaranteed loans is that there are options in all states. You can apply online in an easy and pain free application that will point you in the direction of the nearest participating dealership in your area. The salesman will know what kind of car you qualify for and what your payment needs to be so you will not need to worry about the salesman trying for the big sale that will get you into something you can't afford. These loans are the perfect solution for anyone who has had to go through the hassle of a bankruptcy who are in need of dependable transportation.