Auto Loans After Bankruptcy - Getting Approved With Bad Credit

Bouncing back after a recent bankruptcy is challenging, but possible. To begin with, you will need to rebuild credit, which involves opening new accounts. If you need a new vehicle, financing a car following a bankruptcy may be a smart move. Auto loans are easy to qualify for. Thus, you can get approved with horrible credit.
How to Avoid High Interest Rates?
If your bankruptcy was recently discharged, high interest rates may be unavoidable. Yet, there are ways to purchase a new car without paying several percentage points above the current average. Sadly, there are some people paying interest rates 18% or more.
To avoid high fees, postpone financing a new or used vehicle. Instead, attempt to get a secured credit card. Make timely payment for about a year. View the rest of this article