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leasing/purchasing vehicle after proposal

Hi,

In your experience, do people have trouble puchasing or leasing a vehicle after a Consumer Propsal as been completed? I have a good job and my payment history on my previous vehicles as been excellent (never missed a single payment). I am a very stressed at the thought of going to a local car dealer to discuss financing etc. Any advice.

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One Response to “leasing/purchasing vehicle after proposal”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

The automobile market is such a competitive one this often makes it very easy to find a lender who will be willing to provide the financing. However, it will be up to you to convince the lender why you are no longer a risk. Always let them know about the proposal early in the discussion and see if there is anyway they will be able to work with you to qualify for the vehicle. Make sure you bring in proposal documents with you in case they have any questions and it would be useful if you could demonstrate your positive history with the previous vehicles. Often if you are able to purchase the vehicle from somewhere you have dealt with before you can build off of their internal credit history (i.e. their record of you having never missed a payment).