How To Get A Car Loan During Bankruptcy

Getting a car loan during bankruptcy may not be as hard as your think. There are many lenders that offer financing to individuals who find themselves in bankruptcy. If you are in the market for such a loan, however, don't expect the going interest rate. If you want a car loan, you are going to have to pay a significantly higher interest rate.

Steps to Getting a Car Loan during Bankruptcy

Step 1: Start searching for lending institutes that offer car loans to those in bankruptcy.

Step 2: Examine their rates and terms of the lenders.

Step 3: Shop around. Make an appointment with a minimum of three lenders to negotiate a contract.

Step 4: Compare what the lenders have to offer and then choose the one you feel is best.

Step 5: Complete your application process and wait for the approval.

Step 6: Pay for your car and turn the appropriate information over to your lender.

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