We just filed chapter 7 bankruptcy and it will be discharged soon. We are in need of a new car, but when we stopped by to talk with the finance manager at a car lot he said we would have to wait 6 months before any of the banks would touch us. Is this true? Has anyone bought a car soon after they were discharged? Thanks for your answers!
Some places like capital one will approve you right after being discharged.
Call around some credit unions and used car dealers. They normally know sub-prime auto lenders first hand. My friend got a car loan 2 weeks post discharge and her rate was 10%. Not too shabby for having a 2 week old discharged bankruptcy on her record!
