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Getting Indivual Car Loans After Bankruptcy
excerpted from Bounce Back From Bankruptcy, by Paula Langguth
Ryan
©2001, Pellingham Casper Communications;
www.ArtOfAbundance.com
800-507-9244.
When you’re ready to buy a new car, here are a few strategies
you can use to buy your car without credit — plus a few
strategies that will help you get a car loan. Once again, I know
these techniques work because I’ve used them myself or have
seen others use them successfully.
When I declared bankruptcy, my car had been sold at auction
after being impounded for unpaid parking tickets. My car loan
was listed on my bankruptcy, which made it virtually impossible
for me to get a car loan right after my bankruptcy.
Instead, I bought a 1982 Honda Civic hatchback. This car had
been in two fender benders, was rusty but reliable, and cost me
$200. The owner was selling it because she lived in the city,
had just bought a new BMW and didn’t have room to park
two cars.
I drove that Civic for five years and put a total of $1,000 into
it for a new clutch, muffler and brakes. I never had a car
payment though — and I used that extra money to pay off
debts that weren’t included in my bankruptcy.
Grand total, I spent $1,200 on my car over five years. I then
sold the car in 1991 to a college student for $500 (150% more
than what I paid for the car). My total cost came to $700 —
or $140 a year.
If you need a car before your credit report is completely
cleaned up (See Chapter 1), or if you’re still making payments
on your Chapter 13 bankruptcy you’ll probably have to pay
cash for your new car. I’m not talking about doling out tens
of thousands of dollars. I’m talking about shopping around
for a reasonably-priced, reliable car. Shop the classifieds,
college billboards, places like that. Pay particular attention to
ads that say “ugly but reliable.”
If you’re still making payments under your Chapter 13
bankruptcy, you will need to get the trustee’s permission
before you buy a car. Chances are good, however, that the
trustee will work with you to fit the car into your budget.
The Best Way to Get a Car Loan After Bankruptcy,
From NY to WA
If you do buy your car from a dealer, keep the focus on how
much you want to pay for the car, not on how much you can
afford to pay each month. For example, tell a dealer that you’re
looking to buy a car that’s two to three years old and that you
want to spend no more than $7,000 on the car. The dealer
wants you to commit to as large a monthly payment as you
can afford, in order to get the most interest out of you they can.
Instead of putting the dealer in charge of your finances, put
yourself in charge. Start by calculating how much car you can
afford to pay off in two years. If you can afford to spend $250
a month on a car payment, then you can afford to finance
$6,000 over two years. You don’t want to tell the dealer you
can spend $250 a month because the dealer will want to hook
you up with a $250 payment for 48 months, financing
$12,000 instead of $6,000.
A good dealer will work with you to buy the amount of car
you want to buy. A good dealer will stop trying to sell you on
the “low monthly payment” as soon as they see that you are
serious about wanting to spend no more than the price you’ve
determined.
Put down as much as you can afford to put down toward the
total price of the car. This will help you get a better...
(To read more facts, tips and strategies for getting an auto
loan with bad credit or bankruptcy on your credit report,
including refinancing an auto loan after bankruptcy and
buying a car during a Chapter 13 bankruptcy,
order
Bounce Back From Bankruptcy today. Don't let another
day go
by without buying the house of your dreams!)
- Included In this Chapter...
- Need a Car Before Your Credit Is Cleared Up?
- Ready to Get an Auto Loan?
- Should You Get a Co-Signer or Individual Car Loans After Bankruptcy?
- The Best Way to Buy a Car From a Dealer
- What If You Already Have a High-Interest Car Loan?
- Leasing A Car -- Making Sure You Get a Good Deal
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Are you familiar with the movie "The Secret?" Bob Proctor is the
narrator and he is, simply put, an amazing man. I highly recommend his
Science of Getting Rich audio series - heck, I highly recommend anything
Bob does! He has a unique talent for helping people step up and create
what they want in their lives. By the time my hair goes gray, I hope I'm
half and successful as Bob is!
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"This
is the most important book
we've seen on rebuilding your credit after bankruptcy."
- Ken
and Daria Dolan,
former CBS This Morning
editors
and hosts of
THE DOLANS on the WOR Radio Network, heard nationwide. |
Are You Ready to Live a Debt Free and Prosperous Life?
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Your life
is not over because you've
declared bankruptcy!
Are you worried you'll never, ever get a credit card again after bankruptcy? Or are you glad to be rid of credit cards forever -- and swear you'll never touch another piece of credit card plastic as long as you live?
Either way...
You CAN
Bounce Back
From Bankruptcy -- Effortlessly!
Contents
Reviews
What's In This Book For You?
Order
a Book or E-Book Now!
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Dear Friend,
You made the right decision when you declared bankruptcy. Now, you can start to rebuild your credit and reclaim your right to financial security.
The road may not always be smooth. Scam artists and unscrupulous businessmen will try to use your past misfortune to line their pockets. Credit card companies and car dealers will try to charge you higher interest -- or deny you credit completely.
Luckily, there are strategies you can use to get back on your financial feet and avoid getting taken advantage of I know these strategies work because I've used them personally. It took me a lot of trial and error to get back on my financial feet after I declared bankruptcy. I fell for just about every scam that came along. And I vowed that if I ever got back on my financial feet I would find a way to make sure
that no one else would be taken in by scams or too-good-to-be-true offers if I could help it.
That's why I wrote Bounce Back From Bankruptcy, now in its
Third Edition. In this 224- page book you'll find step-by-step instructions to guide you back onto your financial feet. After you read Bounce Back From Bankruptcy,
3rd Edition, you'll find it easy to avoid any obstacle that gets tossed into your way as you rebuild your credit.
Here's what you'll find in
Bounce Back From Bankruptcy- Painless way to pay off your undischarged debt
after bankruptcy.
- The best credit cards that help you rebuild your credit after
bankruptcy (secured and unsecured).
-
Sample letters that force creditors to take action -- in your favor!
- Step-by-step strategy to help you reestablish credit after bankruptcy.
- How to avoid discrimination on the job after bankruptcy.
- Smartest ways to get car loans after bankruptcy, including individual
loans and new car loans (and how to buy a car without taking on new debt).
-
Common credit repair scams and how to avoid them.
- Best strategies for buying a house after filing Chapter 7 bankruptcy,
(including 0 down mortgages), renting, or even refinancing after bankruptcy.
- How to buy plane tickets, rent cars or book hotel rooms without credit.
- What to do if you get in over your head again!
...And
So Much More!
Contents
Reviews Order a Book or E-Book Now!
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The minute you start taking the steps outlined in this book, you'll begin to bounce back -- effortlessly -- from your previous financial troubles. You'll rebuild your savings. You'll discover how to eliminate debts that weren't included in your bankruptcy. And you'll clean up your credit report, almost effortlessly, so you can easily buy everything from cars to houses in just a few short years. You can even buy a house one year after you declare bankruptcy! This book shows you how to do it -- step-by-step.
With Bounce Back From Bankruptcy, you get a brand new lease on life. Don't waste time scrabbling around with a hit and miss approach to rebuilding your credit. Order Bounce Back From Bankruptcy: A Step-by-Step Guide to Getting Back On Your Financial Feet today. Within 20 minutes, you'll be on your way to a more financially secure life -- and you'll rebuild your credit quickly and easily.
You're not alone, no matter how you feel about credit cards. And you never again have to be a slave to MasterCard! Bounce Back From Bankruptcy will show you how to rebuild your credit without ever again carrying a balance on a credit card!
I'm so sure that Bounce Back From Bankruptcy will help you quickly take control of your financial destiny that I'm willing to offer this 100%, unconditional, money back guarantee: If you're not completely satisfied with this book, just send it back and we'll cheerfully refund your money!
ORDER ONLINE, VIA PHONE OR
MAIL:
To order your very own copy of Bounce Back From Bankruptcy mail your check or money order for
$15.95 per copy, plus $4 shipping and handling which is $19.95, (MD residents please add 5% sales tax for a total of
$20.75) to P.C.C., 1121 Annapolis Road, Suite 120, Odenton, MD 21113. For credit card orders, call 1-800-507-9244.
We accept Visa, MasterCard and American Express.
Bounce Back From Bankruptcy
is now also available as an E-book for $12.95. You save $7 when you order a PDF
downloadable version of Bounce Back From Bankruptcy. To download
your e-book, you'll need Acrobat Reader, which is available for free.
Don't wait another minute to start rebuilding your credit and regaining control over your finances.
Order Bounce Back From Bankruptcy today and reclaim your stake in the American Dream! Your credit problems will soon be a thing of the past!
Call
1-800-507-9244 or
Click Here to
Order Now!
(All
orders receive a free Break the Debt Cycle Gold Card--just say you're
ordering from the Art of Abundance website!)
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