It is very rare to be denied an auto loan after filing bankruptcy. In fact, people who file bankruptcy get deluged with offers from car dealers who are willing to sell and finance them cars even though they filed bankruptcy a few days ago. Your issue seems to be one of credit and not bankruptcy. You need to pull your credit report and make sure it is accurate. It is possible that some of your old debts are still on your credit report, which is making it difficult for you to purchase a car.

Answer Applies to: Colorado
Replied: 10/23/2011

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Bankruptcy stays on your credit report for a long time, for ten years. Filing bankruptcy can be a reason for being denied credit.

Answer Applies to: California
Replied: 10/21/2011

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If you didn't already realize it, filing for bankruptcy affects your credit. You probably weren't denied credit simply because you filed for bankruptcy. The reasons for denying you credit post 2 years from filing would probably be because your credit score is still too low.

Answer Applies to: California
Replied: 10/21/2011

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Whether or not you can get a loan depends on more than just having filed for bankruptcy. Your income and credit history post bankruptcy is a factor. Perhaps you are trying to get more car than you can afford.

Answer Applies to: California
Replied: 10/20/2011

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A bankruptcy filing does significantly affect your credit. You need to work to rebuild your credit. I suggest getting a "secured" credit card that reports to the credit bureaus so that you may begin rebuilding your credit so that you will eventually qualify for a loan.

Answer Applies to: Michigan
Replied: 10/20/2011

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Yes, you can be denied a loan because of a bankruptcy. Your only alternative is to try shopping at some different car dealers. The larger your down payment, the more likely you will get a loan.

Answer Applies to: Texas
Replied: 10/20/2011

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You need to shop around. Call dealers and ask if they have programs for people who have filed bankruptcy. You will pay a higher interest rate.

Answer Applies to: Colorado
Replied: 10/20/2011

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Yes you can be denied for a BK. You need to change your expectations, get a cheaper car, or one you can pay cash for or seek out new lenders that accept Bankruptcy. There are lots out there but realize they will charge a much higher interest rate, so only buy what you really have to have.

Answer Applies to: Utah
Replied: 10/20/2011

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No. However lenders can take it into consideration.

Answer Applies to: Wisconsin
Replied: 10/20/2011

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Maybe you can find a co-signor or obtain a reliable used car.

Answer Applies to: Georgia
Replied: 10/19/2011

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You should try applying for a different loan from a different bank. Many people are able to start rebuilding credit rightaway after bankruptcy - usually 6 months after bankruptcy discharge.

Answer Applies to: Indiana
Replied: 10/19/2011

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Lenders can (and will) deny you for bad credit, including bankruptcy. Your lawyer told you that when you filed. Your options: forget the new car and pay cash for a used car or find a lender who will loan (usually at high rates) to bankrupts.

Answer Applies to: Georgia
Replied: 10/19/2011

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You can be turned down for credit if you filed for bankruptcy. However, it has not been an experience that consumers who filed for bankruptcy are completely shut out of the credit market. There are those lenders who focus on consumers who have received a discharge from the Bankruptcy Court. You may have to make a larger down payment for an auto loan or pay a higher interest rate but credit is available.

Answer Applies to: Georgia
Replied: 10/19/2011

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Yes, you can certainly be denied a loan because you filed bankruptcy. However, different lenders have different requirements and there are several that make auto loans to people right after they file bankruptcy. You just need to find a different lender.

Answer Applies to: Colorado
Replied: 10/19/2011

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There are lenders out there who specialize in loans to people with poor credit or recent bankruptcies. Some dealerships even have special loan programs for people with credit issues. Since you are considered a "risky investment" you will likely face a higher interest rate. Some lenders will require weekly, instead of monthly payments. However, a lender may reduce the interest rate on the loan after you have consistently made payments on time. Used car dealerships tend to be more willing to lend to individuals with problematic credit histories.

Answer Applies to: Massachusetts
Replied: 10/19/2011

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All you can do is find a lender who will lend to you. It will cost more in interest, but it will also go towards rebuilding your credit etc.

Answer Applies to: Minnesota
Replied: 10/19/2011

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Many lenders will refuse to make a loan to you if you have filed for bankruptcy. This is legal. However, there are other lenders around who will make a loan to you although you will have to pay a fairly high interest rate on the loan. In fact there are quite a few car dealers who actively look to make loans to people who have recently filed for bankruptcy. They realize that you have gotten rid of a substantial amount of debt, which should free-up more money for you to make vehicle payments. They also realize that you can't file for bankruptcy for another 8 years so you are really a better credit risk after a bankruptcy than you were before you filed for bankruptcy. Keep looking. You should be able to find someone who will work with you.

Answer Applies to: Virginia
Replied: 10/19/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.