In addition to education loans, car loans are also fairly easy to obtain after declaring bankruptcy. Car dealerships know that people who have filed under Chapter 7 or 13 will not be able to file again for another eight years, and because the average car loan only lasts six years, dealers know that they will not lose money as a result of a second bankruptcy. However, individuals need to be aware of the fine print attached to bad credit car loans offered to them, because these loans often come with high variable interest rates, strict repayment conditions, and hidden fees.
Auto Loans & Rental
How to Get Auto Insurance after a Bankruptcy
Going through bankruptcy can not only be personally painful, but it can also affect your credit in adverse ways, possibly inhibiting your ability to get loans for things such as a car, home, and even possibly a job or an apartment rental.
Tips for Buying a Car after Bankruptcy
After bankruptcy, a person might think the opportunity to purchase a car is forever gone.
Renting a Car after Bankruptcy
Whether you are traveling abroad on business or are in need of vehicle while your car is in the shop, it is helpful to be able to rent a car.
How to Get a Car Loan After Bankruptcy
Because the Chapter 7 bankruptcy clause prevents an individual from declaring bankruptcy again for another eight years, auto dealers are actually fairly willing to offer five or six year car loans to those who have recently gone bankrupt.
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