Posted on: 15th Mar, 2012 02:46 am
i have filed bankruptcy chapter 7 and have a car. i am upside down on and not worth it to keep it. i plan on surrendering it. i have been approved at some places to buy another vehicle. i need a car if i am going to surrender my old one. but my question is should i go ahead and buy this car and refinance or trade it later with a better interest rate? or should i just rent a car until after my discharge then buy a car after discharge?
Hi carmen,
As you're in bankruptcy filing, you won't be able to qualify for car loan or any other kind of loan. You will have to wait till your bankruptcy filing gets discharged. After than you need to wait for 2-4 years and then apply for a loan. You may try renting a car for the time being.
Thanks,
Jerry
As you're in bankruptcy filing, you won't be able to qualify for car loan or any other kind of loan. You will have to wait till your bankruptcy filing gets discharged. After than you need to wait for 2-4 years and then apply for a loan. You may try renting a car for the time being.
Thanks,
Jerry
No. And if someone wants to give you one, run away from that dealer.
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