Car Loan Dealers

Car Loan After Bankruptcy
By Terje Ellingsen

Although a car loan after bankruptcy is difficult to obtain, it
is not impossible. While a bad credit loan is fairly easy to
obtain in today's competitive finance market, the situation is
different with any loans or credits after bankruptcy. So the
question you must ask and which I will try to answer is: Can I
get a vehicle loan after I filed a bankruptcy? And my answer
is: Yes you can. Then you may ask; how? Well, here are the
options:

- You can get an unsecured loan, but you have to wait two to
three years after you filed bankruptcy or

- You can get a loan even the day after you filed bankruptcy,
if you have collateral or

- If you have made a down payment in order you can apply for a
loan from a company who specialize in bad credit financing.

The internet is a good place to find the lenders and all
information you need. Be aware that most finance companies will
refuse your application until 3 years after you filed
bankruptcy. There are companies out there however, that are
more keen than the majority to grant you an after bankruptcy
car loan - the challenge is to find them. One way is to search
for and join a credit union. A union is an organization with
the purpose of helping it's members financially. The
probability of getting a loan after bankruptcy is higher with a
credit union than with other companies.

Whatever you do to get a loan, you have to start rebuilding
your credit immediately. This is the best way to get the
financing you want in the future. There are several ways to do
that. One way is to put all the money you can into a saving
account. Another way is to apply for a prepaid credit card. Be
very careful with paying it off timely every month. This will
increase your credit rate little by little, and your credit
limits will also gradually increase.

A bankruptcy is not the end of the world but an instrument for
giving people a new financial chance. Try all of the advices I
gave you above. If you don't succeed the first time try one
more time or even more than that if necessary. And most
important; start rebuilding your credit today.

About the Author: Terje Brooks Ellingsen is an internet
publisher. He runs the website
http://www.cheap-used-cars.w-eland.com Terje gives advice and
helps people with automotive issues like car loans, see
http://www.cheap-used-cars.w-eland.com/used_car_loans.htm and
car purchasing on the internet, see
http://www.cheap-used-cars.w-eland.com/buy_used_cars.htm.

Source: http://www.isnare.com