Buying a Car After Bankruptcy
Buying a car after bankruptcy is possible with Davis Buick GMC’s Buy Here Pay Here Financing Program. Car loan companies specialize in bad credit financing. Call and speak with us today!
Buying a Car After Bankruptcy :
There are a few things to keep in mind when looking for a car loan after you have been discharged after bankruptcy:
- Check your credit report and clean it up as much as possible before applying for a auto loan. Close accounts that should be closed so as not to affect your score. Consider adding a page of explanation for your situation. eg. Medical reasons or Business failure.
- Know what you can afford, and have a monthly payment in mind.
- Davis GMC Buick has “Buy Here Pay Here”, for people buying a vehicle after being discharged from bankruptcy. The interest rates will not be low like banks, but we are not here to gauge you with high interest. We are here to help you rebuild your credit, so that you may be able to get a newer vehicle after a few years if all payments are made as agreed.
- Large dealers often offer “credit rebuilding” programs for people buying a car after bankruptcy. These programs have a few conditions that may differ from regular car loan terms like weekly payments for example.Once you get your new car loan after your bankruptcy be sure to make your payments on time. This will help rebuild your credit. Do not go and get a lot of credit as this can make you over extend yourself and get you back into financial trouble.
If you have any questions, please contact our In-House Lease Manager, Shawn Proulx at (403) 527 1115.