Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

Bankruptcy and Vehicle Financing

1212223242527»

Comments

  • zyaaaaazyaaaaa Posts: 36
    I'm hesitant to post here... seems like a tough crowd. But I have a few questions nonetheless so I'll take my chances.

    I filed individual Ch7 a couple of years ago and have been working to rebuild my credit. My wife had both car loans in her name at the time (and still does) so they were not impacted. We are looking to lower our payments by trading in both cars for leases in the next year, and to then use that money to pay off other debts that remain. Here are my questions.

    Do I stand a chance of getting approved in a joint application with her? Her credit qualifies for Tier 1 for the manufacturer lenders we are considering. My credit is in the low 6s and the only negative ever was the Ch 7. I have prior auto loan history that was paid as agreed/closed (supposedly helps with auto-enhanced scores).

    Would it make sense to try to put both names on both loans to help build credit faster?

    Would doing this drop us from the tier 1 rates?

    I'm really looking for input from individuals with similar experience or dealer/finance experience. Thanks for you time.
This discussion has been closed.