loans after chapter 7

[freeride1995]

What is the name of your state (only U.S. law)?west virginia. i am choosing not to sign a reaffirmation on my car, when can i get a car loan to buy a used car? how high can i expect the interest to be.

[Proserpina]

Originally Posted by freeride1995

What is the name of your state (only U.S. law)?west virginia. i am choosing not to sign a reaffirmation on my car, when can i get a car loan to buy a used car? how high can i expect the interest to be.

This is absolutely impossible to guess, other than "probably not until at least a year or two and possibly longer after the discharge; higher than you would like".

Are you going to be able to afford repayments on that loan?

[JustAPal00]

Originally Posted by freeride1995

What is the name of your state (only U.S. law)?west virginia. i am choosing not to sign a reaffirmation on my car, when can i get a car loan to buy a used car? how high can i expect the interest to be.

19.8% or higher. I would wait a few years, it will go down.

[bigun]

You'll be getting letters from "2nd chance" auto lenders before you're discharged. As the others suggest-the interest rate will be nosebleed.

[nextwife]

You may want to consider just buying an inexpensive used car and avoiding a car loan altogether. I own three cars, none of which were financed, and I earn a modest incomes. One can find all sorts of very acceptable vehicles out there under $2500. My 2000 Mazda 626, for example, was $2200 18 months ago, and has never needed any major work.

Really, coming out of BK, the LAST thing you should be doing is taking on more debt. Try to live without debt, then you won't need another BK some day.

[leviathan860]

I bought a Saturn for $4500 and it's a piece of junk. I've paid a lot in repair bills in a year and it still had trouble starting. Save a few months of car payments up and buy a corolla or accord outright.