You’ve recently had to file for bankruptcy, and now you’re wondering if you’ll ever again be able to purchase a used car — let alone right now. Well, straight from northern Virginia’s trusted used car dealer (That is, Car Credit Nation), I have good news:
Yes. Yes, you sure can.
Maybe your bankruptcy filing discharged enough debt, and freed up enough of your income that you’ll be able to pay for a new used car with cash, but maybe not. If the latter is true, in order to purchase a vehicle, you’ll need a loan. And that’s when things get tricky. Traditional lenders might look at your credit report, see the B-word, and deny deny DENY your loan application.
But lucky for you, I have more good news:
You will always qualify for a Buy Here, Pay Here car loan at Car Credit Nation.
How long should I wait after filing bankruptcy to get a new car?
No matter if you’re able to use cash to purchase a used car (in northern Virginia) after bankruptcy, or if you’ll go the route of a Buy Here, Pay Here car loan from Car Credit Nation, you should wait to get a new used car until you have received your bankruptcy discharge — or until after your bankruptcy case has been dismissed, whatever the case may be.
How long will that take?
Well, that’s going to depend on the type of bankruptcy.
Filed a Chapter 7?
You can expect to receive your Notice of Discharge from the bankruptcy clerk of court no fewer than 90 days after your 341 meeting of creditors.
Filed a Chapter 13?
The process to complete a Chapter 13 bankruptcy takes much longer than to complete a Chapter 7. The former is journey that will take anywhere between three and five years to complete. While it’s advisable that you wait, if you absolutely must have a new used car while still embroiled in a Chapter 13, you will need to obtain permission from the bankruptcy court. (Speak with your bankruptcy attorney, or with your Chapter 13 Trustee’s office for guidance.)
Once you have your Notice of Discharge in hand:
Come to northern Virginia’s favorite Buy Here, Pay Here dealer.
Car Credit Nation, where you’ll always qualify for a car loan.