Does anyone know where or how you can purchase a new/used car while in Chapter 13 Bankruptcy?

Question

Does anyone know where or how you can purchase a new/used car while in Chapter 13 Bankruptcy?

Answer 1

For starters, remember that you are prohibited from taking on new credit while you are in your Chapter 13 "plan".  You will need to get permission from the Trustee first.  

Once you have gotten past that hurdle......there are places you can get a car.  Forget the large auto dealers, they will automatically rubberstamp you with REJECT once they see your credit report.

Same for the large banks.

There are a lot of used car dealers that specialize in poor credit loans.  They generally self-finance them, or have deals with banks to underwrite them.  But the terms are terrible and interest rate is very high.

Unfortunately, people in BK have little choice.  

Answer 2

If you have that much cash at your disposal, you need to put it towards your debt.

If you aren't paying cash, you are dumb for trying to get yourself right back into debt.  Didn't you learn a thing from declaring bankruptcy the first time?  Or was this the second or third or more time?

Save $1000 and buy a beater car....all you need is something for you to get from point A to point B.  Anything more than that and you are materialistic.

Answer 3

any place that will sale you a car for cash -- public transportation is your best bet!!!

Answer 4

you have already proved you can not handle your financial obligation no one in there right mind would sell you a car unless you bought it in cash.

Answer 5

Unless you are paying cash, you won't be able to get a car loan while you are still in Chapter 13.  In fact, you have to get permission from the court to take on a car loan.