Can you get an auto loan after filing for bankruptcy but before it is discharged?
Yes, you can get an auto loan before bankruptcy discharge.
If you have filed a chapter 13 bankruptcy, you must receive
permission from the court trustee. Contact your attorney to begin
the process. The court will set limits as to maximum loan amount
and monthly payments. DO NOT apply for a loan of any type before
getting approval from the court! Doing so could be grounds for
dismissal of your bankruptcy, depending on the regulations of your
particular court district.
If you have filed a chapter 7, there are certain automotive
lenders who will finance you after you have attended the (sect.
341) meeting of creditors. However, if you are unable to find one
of these lenders, your discharge is usually granted within a few
weeks of the 341 meeting and you will be able to purchase then.
Related Q&A：
How would one begin the process of obtaining the lowest loan rates from lenders？Well, here's what you can do. First of all, you gotta make sure your credit score is in tip-top shape. That means paying your bills on time and keeping your debts low. Then, shop around and compare offers from different lenders. Don't just go with the first one you come across. Oh, and it helps if you have a stable income and a good employment history. Another thing, consider putting down a larger down payment if possible. That can sometimes get you a better rate. So, take your time and do your research. Good luck!
