Where can I buy a used car with a down payment. I have a bankruptcy that isn't 2 years old yet?

Question

Lenders/car dealers keep saying that they can't finance me until the bankrupcty is 2 years old.

Answer 1

Maybe you should step back and reconsider what you are doing. You have a bankrupcy that's less than two years old, yet here you are trying to finance a car already. If you have the means try paying cash for a used car that's a little older. Most lenders/creditors won't touch a person that's filed recently, you are a very bad credit risk right now. The only agencies that may float you a loan are going to bone you with a sky high interest rate, probably 20-30%. Save your money, pay cash for a used set of wheels, and concentrate on rebuilding your finances.

Answer 2

Some auto dealers do in-house-financing for credit challenged customers but the interest rate would be sky high (25-35%) I would call a dealer and ask how much down it would take to get you financed through their manufacturer's bank. The dealership can sometimes sweet talk the bank, and the downpayment shows a vested interest.

Answer 3

Most major cities have used car dealers who can help with credit problems. We have one in our area called Easy Auto Credit, another called Nice Cars, etc. Some of the dealers will work with you also.

Answer 4

Depends on where you're located.
Some dealers have shady financing deals with high interest for credit-challenged customers. Good luck.

Answer 5

try a good cardealer, like ford for example. we have bad credit and they financed with a downpayment. or check online, type in bad credit car loans