Personal Finance
Money Management

How hard is it to get a new car loan after a bankruptcy repossessed car has been taken?

User Avatar
Wiki User
2005-08-08 14:41:19

I have friends that have had cars repoed and they and went

bankruped and got a car,new in less than a year. I guess they

figure you owe no one any money and they have 7-20 years before you

can file again. It's not hard at all. The only thing is you will

pay a higher interest rate. But you can still get a brand new car.

Just make sure you can make the payments and try to pay it off

early. That's a way also of starting up a new line of credit.

Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.