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Can I buy a new vehicle after bankruptcy?
We need a new vehicle soon, but we received a bankruptcy discharge 5 months ago. We have re-established our credit score to a little under 700. We have a small credit card to get some credit back. We have pretty good income with hardly any bills.
I didn’t want to be embarrassed when financing. Do you think I would be given a loan? Thx
5 Answers
- PamLv 62 years ago
I think you will be fine. Go to the car dealer and get your car. There is no need to tell them about the bankruptcy unless they find out. Your credit score and good income should suffice. But if they do find out, they will probably still offer you a loan but it might be a little higher interest rate. Good luck.
- Anonymous2 years ago
With a score near 700 and good income, probably. Assuming a decent down payment. Not a great idea though. Get a used car. One 4-4.5 years old with low miles from a private party. Should save you about half.
- 2 years ago
Of course not.
With a discharged bankruptcy 5 months ago, no lender will be willing to finance a car.
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- D.E.B.S.Lv 72 years ago
You can buy a new vehicle. Nobody will give you a loan. You should be embarrassed for even thinking about financing a vehicle. Loans are what got you in the mess you're in. Pay cash. The fact you're looking to go into debt so soon says you haven't learned.
