Everything always seems to happen at once. You were forced to declare Chapter 7 bankruptcy but now your old clunker has finally broken down. How can you acquire a vehicle now? There are dealerships, thank goodness, that do offer auto loans after bankruptcy in Lynnwood / Snohomish County.
Keep in mind, however, that even though this financing is available, you are considered “high risk” to a lender because of your inability (for whatever reason) to successfully manage your debt. Because of this, a dealer usually requires a higher down payment with a higher interest rate to safeguard himself in case you cannot meet your loan requirements.
While it is always better to wait as long as possible after your bankruptcy filing to buy a vehicle, that is sometimes just not possible. If you are in a situation where you need a vehicle quickly, it is important to attend a 341 meeting. This crucial consultation allows a court trustee to validate all of your assets and provide information about your debts.
You can present this information to a dealership with your down payment and other required paperwork to secure a loan on a reliable auto that effectively meets your transportation needs, whether for work or play.
For auto loans after bankruptcy in Lynnwood / Snohomish County, contact the pros at Carson Cars at (855)583-9356. We are able to not only offer valuable financing to aid in rebuilding your credit but can supply a wide variety of vehicles from which you may choose. Call us or stop by today!