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Establishing Credit With An Auto Loan


How does financing a vehicle help my credit score?

Obtaining financing on an automobile is one of the hardest types of financing to obtain. Making your payments on a auto loan obtain after bankruptcy on time, every month, can raise your credit score by over 100 points in a year. Financing an automobile after a bankruptcy is one of the most proven, fast and effective ways to re-establish credit. It also ensures that your auto payments are being reported on your credit bureaus. Often, after a bankruptcy all payments received on a vehicle purchased before bankruptcy stop reporting to the credit bureaus as soon as the bankruptcy if filed.


What does pre-qualification mean?

Pre-qualification means that you have met the minimum guidelines that our specialized dealerships require to have a lender look at your application. Getting pre-qualified will save you time and prevent your credit from being ran without reason or hope of obtaining an approval. Pre-qualification can be done over the phone with our trained Bankruptcy Information Center and our staff can answer any additional questions you may have about obtaining a loan after bankruptcy.


How will pre-qualification help me in getting a vehicle?

Our company maintains a nationwide network of auto dealers that specialize in providing financing for consumers regardless of their current credit situation. Even if you have been turned down in the past, or were unable to receive a loan or financing for a new car, we have many dealerships that are ready to work people who have less than perfect credit. All of the dealerships that work with us have passed a screening process to ensure that they are qualified and have proven track records in working with bankruptcy clients. After you submit your application, a Finance Manager in your area will determine what financing options are available to you.


How will this save me time?

Upon submitting your application, our Bankruptcy Information Center will promptly send your application to our Specialized Dealership in your area who has the necessary lenders to get you the best possible financing available. Our service can save hours of your valuable time, prevent your credit from being ran without reason, and connect you with the right dealership with you having to go through the hassle of going from dealership to dealership. Let us help you today!


What if I don't qualify or get turned down?

We do our best to ensure that all applicants have met the minimum requirements before we send it to our specialized dealership. While we have a high success rate of people obtaining approvals, there are times when people are unable to obtain an approval. Factors that may cause this can be additional negative items on the credit report in addition to the bankruptcy, credit score, unverifiable information, among a variety of other reasons. If you get turned down for financing, there are things you can do to help repair your credit. You can apply for a credit card and make on time payments to it, or work on repairing your credit either yourself or using a credit repair professional. Our Bankruptcy Information Center can offer you information on services you can use to repair your credit. For more information, please call (888) 348-0336, or send us a message below.