trying to buy a new car?

Question

We are trying to buy a new car. But We had to file for bankrupcy because of my medical expenses 3 years ago.
Any Chance of doing that? We are financially stable now and should be able to effort $4-500 per month payments.

Answer 1

Make a smart financial decision and buy a good used car.

There are many good used cars out there that will be thousands of dollars cheaper than a new car. And if you look at a Certified Used car you'll get a warranty equal to a new car.

Answer 2

Most places will lend you money for a car if you have two years of good payments after a bankrupcy. You will pay for it in the interest rate however. Start with your bank and ask to be pre-qualified. That way you will get the best deal out there. If you try at the dealership first you'll pay out the nose! Happy driving!

Answer 3

i hope and/ or glad that you have no more medical problems and hope that nothing re-occurs. as a general rule, bankruptcies show on your credit report for 7 years. so what you are looking at is a higher down payment, a higher interest rate and higher payments. if at all possible save enough $$$$ to get a good used car and try to build your credit score up, then get that new car after the bankruptcy
falls off. but first i would do is to get some other credit built up like getting a new living room suite or something like that to build your score up by making payments on time. don't fall into the gap of those credit card rebuilding things that they send through the mail. you just have to be strong and dedicated to go through this for just a little while and you will be o.k.

Answer 4

If you wait a bit and bank four or five of those 'payments` toward a larger down payment, your chances will improve.