Filing for bankruptcy can be an overwhelming process, and you may be wondering if you can still be able to buy a car. It might seem like you don’t have many options for making large purchases such as a vehicle. The good news is that with the right help, buying a car after bankruptcy is still possible. It can even help you rebuild your credit.
When to Buy Your New Vehicle
If you are planning to file for bankruptcy, be sure to speak with us before buying a new car. It’s generally advised to wait to make this large purchase until after you file. But if it’s a necessity, we can help guide you to the most beneficial decision in your particular case.
For Chapter 7 bankruptcy, it’s usually best to wait to buy a new car until after you receive your discharge papers. In some cases though, you can apply for a car loan as soon as you have filed your case and received your Chapter 7 case number.
Financing Your New Car
Be careful as some lenders will try to charge you a very high interest rate and blame it on your bankruptcy. However, there are loan options designed for people who have declared bankruptcy.
Automotive Fresh Start Center offers a unique program for customers in this exact position. They specialize in helping people buy the car they need, during and after bankruptcy. They help with the entire process from selecting a vehicle to securing a loan.
Rebuilding Your Credit
After declaring bankruptcy, you’ll want to begin rebuilding your credit right away. As long as you’ve taken on a monthly payment that you can afford, an auto loan is a great way to improve your credit score. With each on-time monthly payment, you’ll see your credit score rise.
Automotive Fresh Start Center helps you achieve the fresh start bankruptcy should provide. Each customer receives a free membership to the 720 Credit Score program. This program walks you through easy steps to rebuild your credit, so you can get your finances back on track.
If you’re wondering how you’ll be able to finance a new car during or after bankruptcy, don’t worry! There are options out there to help you get a new car, without paying high interest rates and getting back over your head in debt. Please contact us!
Bond & Botes Helps People Struggling with Debt
You can begin gathering information right now by scheduling a free consultation with one of the experienced bankruptcy attorneys at Bond & Botes. We can answer all your questions regarding Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, stopping a foreclosure or wage garnishment, avoiding liens, stopping law suits, discharging medical debt, personal loans, payday loans, credit card debt, etc. We can alleviate your stress! We want to help and we can help you!
Alabama State Bar requires the following: “No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers.”
Bond, Botes, Sykstus, Tanner & McNutt, P.C.
102 South Court St, Suite 314, Florence, AL 35630
Phone: 256-760-1010 • Fax: 256-760-1023
Office Hours: Monday – Friday • 8am to 5pm
No representation is made that the quality of legal services to be performed is greater than the quality of legal services to be performed by other lawyers.