After bankruptcy it can be difficult to get a car loan, and most lenders may not consider lending for something so large like a car loan. But don’t get too down about it, this doesn’t mean that you will never get a car loan after bankruptcy, you just need to look in the right places and options that fit your current financial situation.
Here are some places to get you started:
Your current bank or credit union
If you are currently a member of a bank or credit union, you may be able to get financing directly from them. Because of your accounts and history with them they may be willing to work with you, mainly because you are still with them. So look here first before looking for other options.
Auto lenders like TransCan Leasing
Look into bankruptcy car dealers like us! These companies specialize in working with people with bad credit. Companies like TransCan Leasing are not scams but are just more willing to work with someone that is going through these financial situations than others. We will work with you to find the best vehicle that fits your current situation.
Swap leasing is basically exactly what it sounds like, you are taking on someone else’s lease and taking over the payments. This works for both parties as you are getting an auto loan after bankruptcy, and they are out of a lease that they are not able to pay for. Just make sure you get the vehicle inspected by a professional to make sure you are not getting scammed, and stuck with a broken vehicle.
For more information and how you can get started in leasing a car after bankruptcy, contact TransCan Leasing today!