| If you have recently filed bankruptcy, you may | | | | will increase. |
| wonder if its possible to get auto financing again. | | | | 2. Buy The Lowest Priced Car You Can - When |
| There are more and more loan companies all the | | | | financing a car after a recent bankruptcy, you can |
| time that have new programs to help finance | | | | expect to see interest rates as high as 14-19% |
| people with bad credit. An auto loan is easier to | | | | or more. It is not wise to buy a car that is more |
| get financing for than a personal loan or an | | | | expensive than you need because, initially, you will |
| unsecured loan because the lender can use the | | | | be paying such a high interest rate on the amount |
| car as collateral against the loan, in case the | | | | you are borrowing on. If you do want a more |
| borrower ever defaults or doesn't make the loan | | | | expensive car, wait until you have made |
| payments. | | | | payments on time for a year or two, after your |
| Here are some tips to help you when getting | | | | credit rating has increased. Then, you should be |
| financing to purchase or refinance a vehicle after | | | | able to get an interest rate of around 9-10% or |
| a recent bankruptcy. | | | | less. |
| 1. Get Financed To Re-establish Your Credit - | | | | 3. Get Multiple Offers - There are many lenders |
| Getting a new car loan can help you re-establish | | | | online that will offer you up to 4 offers from one |
| your credit when you make your payments on | | | | application. Most of these loan companies will not |
| time. Once you have made payments on time for | | | | even pull your credit with the initial application, |
| about 6 months or longer, you should be able to | | | | they will just ask you to describe your credit. This |
| refinance your car at a much lower rate. As you | | | | way, your credit score will not drop from being |
| make your payments on time, your credit score | | | | pulled too often. |