Understanding Bankruptcy Used Car Loans Near Alexandria
Posted on February 28, 2023
Most people believe it is impossible to be approved for an auto loan after bankruptcy. That might seem valid, but it is not necessarily true. At Expert Auto, we want you to understand that qualifying for bankruptcy used car loans near Alexandria is absolutely doable. Expert Auto is the dealership you can turn to. We will help you understand every option available to you. Most people don’t realize that the government has special provisions for automobiles as a necessity.
The average credit score usually drops to about 500 to 560 within three months of the final bankruptcy hearing. But even bad credit is acceptable at Expert Auto. We will find the right financing plan for you that could help rebuild your credit score. Expert Auto is confident we can have you driving off our lot in your newer used car in no time. Let us carry the heavy lifting.
Going through bankruptcy is stressful, and the last thing we want is to pile on even more. Our highly knowledgeable sales team has years of experience keeping up with the changing rules associated with financing a bankruptcy auto loan in the state of Washington. Before coming into the dealership, here are a few tips to make qualifying for an auto loan after bankruptcy easier. After your bankruptcy is finalized, take about a year to rebuild some of your credit by:
• Minimizing your credit utilization ratio.
• Keeping all sources of debt payments on time.
• Creating a reasonable mix of credit sources.
• Inspecting your credit report carefully for any errors.
Depending on the type of bankruptcy you file determines how long you should wait to apply for an auto loan. Chapter 7 usually requires you to wait until the process is complete, while Chapter 13 may allow you to qualify during bankruptcy. Every situation is unique.
Expert Auto can answer any questions about qualifying for bankruptcy used car loans near Alexandria. Check out more information on our website and call us today at (866) 429-0970.
Great experience they were very helpful. I was pleased with the overall experience. Kamal was very kind. Thanks SW