Can I Get a Car Loan After Bankruptcy?

 

Life is full of bumps in the road, both personally and financially. After going through a bankruptcy, you probably feel like you're alone on an island and no one is going to want to talk to you, let alone give you a loan. But there are many organizations that want to help you after you've been in a situation like that, and we're one of them. Here are a few things you can start doing to help your situation post-bankruptcy.

Check Your Credit Score

It will be scary, yes, but it's better to know where you stand before going into something. The lender is going to see this anyways, so it's better to be prepared instead of being blindsided by this.

Down Payment

As with any loan, the less you need to pay back to the bank, the better your chances are of being approved for that loan. Banks don't like taking high risks, so having less to worry about will benefit you greatly.

Don't Settle

When you've filed for bankruptcy, you probably feel like you're going to have to settle for whatever someone gives you. This isn't true at all. There are many places that will still give you very good rates, and we'll work with multiple lenders to find the best rate for you.

Be Patient

Working your way back up after bankruptcy will take some time, so be patient with it. Pay your bills on time, and slowly your credit will start to work itself back.

Filing for bankruptcy may make you feel like you've hit rock bottom, but all is not lost. Weins Canada will work with multiple banks and lenders to help you get back out onto the road. Fill out our Credit Application form and one of our Credit Specialists will get back to you on how we can help you get back on your feet (or wheels).

Need help getting back on your feet?

Apply for credit today