Car Loan before discharge from bankruptcy
Is it possible to obtain a car loan when you haven’t been discharged ?
There seem to be alot of companies adverstising ‘regardless of credit’ they can help with higher interest of course.
Is it possible to obtain a car loan when you haven’t been discharged ?
There seem to be alot of companies adverstising ‘regardless of credit’ they can help with higher interest of course.
Yes, there are a lot of companies that will loan you money to buy a car while you are bankrupt. You are correct that they will charge you a significant interest rate, generally up to 30% per year. Therefore, for most people, your best option is to purchase an inexpensive vehicle for cash, take the bus, share a ride with a co-worker, or borrow a car from family or friends. Once you are discharged, your financing costs will be much lower.