Auto Loans After Bankruptcy: Have a Nice Ride on Your New Car
Author: Carney Alden
Buying a car after a bankruptcy may not be so pleasing to hear. But now it is made so safe and simple that any one after a bankruptcy can apply for a car loan. So don’t think that it had all ended up with a bankruptcy, but take it as a chance for a better and brand new start.
First of all to be eligible to secure auto loans after bankruptcy you have to be a UK citizen of age 18 or above. You must be having a regular source of income of considerable amount to prove your potential to pay the money back. To get the money at reasonable rates you might have to place a down payment against the loan. The more you pay the more rates will be reduced. You also can settle down for short term auto loans to pay the whole money within 1 or 2 years.
If you are not so much in need of money and could wait for a period of at least 2 years after the bankruptcy, you will be able to get your personal unsecured loan.
Now days, financiers are giving refinancing options to their customers. The financiers give their clients a chance to lower their interest. Probably after one year, according to your credit status, the financier renews your interest rates. So be sure with your monthly payment and financial managements that can upgrade your credit rate
To get Auto Loans after Bankruptcy all you need to do is fill out an online application form and submit it. The loan is processed and approved within minutes of submitting. You might have to research on the authentic lender quite a bit and do take some time to do that. Try negotiating the price to make sure you can repay it in future.
Article Source: http://www.articlesbase.com/loans-articles/auto-loans-after-bankruptcy-have-a-nice-ride-on-your-new-car-567127.html
About the Author
Carney Alden is a Masters in Accounting and Financial Management from Lancaster University Management School. Having completed his Master in Finance from Derby University. He provide useful advice through his articles that have been found very useful. To find Auto Financing, Auto refinancing, Quick auto refinance visit http://www.consumerautofinancing.com
Can anyone help with my stolen car situation?
My name is Holly Hardesty and I am looking for someone to give a voice to a serious issue that I have found myself in the middle of. I am now the proud owner of a stolen 2007 Suzuki Forenza. I am writing this for anyone who will listen and because I want to make people aware of what could happen to them if they find themselves dealing with Bremen Chevrolet Buick in Bremen Indiana.
I have overcome many obstacles in my life including bankruptcy and I finally had my life and credit back on track. I am now a college student and while taking business math I learned some things about interest and realized I had a not so pleasant interest rate on my new Suzuki. Therefore, I decided to look into refinancing my Suzuki. While looking to refinance my car I was contacted by Kevin Wenzel of Bremen Chevrolet Buick. Since meeting with Mr. Wenzel, I have been in turmoil. With nowhere left to turn to. Now I want to tell my story to anyone and everyone who will listen.
Kevin Wenzel from Bremen Chevrolet Buick contacted me about trading in my car on April 5, 2009. He told me that he found me through one of the finance company’s I had applied at to refinance. He said he was sure he could help me with a trade in. On April 8, 2009, I traveled to Bremen Chevrolet Buick and arrived at the car lot around 1:45 pm.
I talked with Chuck Nick first and test-drove a Chevy Impala. A little later, after Kevin Wenzel looked over my credit and paperwork Chuck Nick came back with a burgundy 2008 Dodge Charger and said that Kevin could not help my current loan and credit with the price of the Impala but could make things better with the price of the Charger.
While talking to Kevin Wenzel I learned that Bremen Chevrolet Buick brought him in from California to help them get rid of some cars and revamp the way things work in their company, so he was only a temporary employee. (So I was told)
When discussing the trade in he offered to take sixty days to attempt to sell my Suzuki if he could not sell the car he would write it off as a trade -in. I signed paperwork regarding the exchange and he said he would mail me a copy of all the paper work involving the Suzuki. I signed several different pieces of paperwork regarding the Suzuki, the Charger and the new warranty I purchased for the Charger. I never received my copies of the paper work that I signed involving my Suzuki. What I received was the purchase agreement for the Charger. Several days later, I received the transfer of title paperwork for the license branch but nothing else.
On May 14, 2009, I received a phone call from the finance company for the Suzuki saying that they never received the pay off. Both Citi Auto Financial and I contacted Bremen Chevrolet Buick and they said that they never had the Suzuki or any paper work on it. They also told us that Kevin Wenzel no longer worked there but I was free to contact him but was never given a contact number.
My witnesses Billie Adkins and Kenny Burrington went to Bremen Chevrolet Buick approximately 2 weeks after I bought the charger to look into a car for them. They took the spare key and manual that belonged with the Suzuki and dropped the items off while they were there. They saw the Suzuki parked on the lot and Kevin Wenzel took the keys and manual for the Suzuki and knew what car they belonged too. When they were speaking with Kevin Wenzel, he told them he was from Illinois.
May 22, 2009, I went to the Bremen police department at 9am and filed a stolen car report with officer Spade. Officer Spade informed me that there was nothing they could do because it was a civil matter but the police department would look into it.
What I learned from the police department was that Mr. Wenzel was no longer employed their and no one had any knowledge about my Suzuki. Since May 22, 2009, I contacted my insurance company Unitrin Direct. After waiting, a couple months for their decision on whether or not they would cover the Suzuki Unitrin Direct reported to me that they would not cover the Suzuki. Due to the Suzuki not being reported until sometime after I changed my policy over, even though the Suzuki was indeed stolen the same day I transferred the policy and left it in the care of Bremen Chevrolet.
After being denied coverage from Unitrin Direct I contacted a lawyer who informed me that I did not have a good chance at winning this particular case due to the fact that I do not have copy’s of the paper work that I signed for my Suzuki.
After hearing this news, I contacted the Citi Financial to see if there was anything, they could do to help me with the situation. Citi Financial contacted their insurance company Balboa insurance. Balboa contacted me, I filed all the necessary paper work with them, and they researched into my case. I received a letter from Balboa Insurance this week stating that they could not cover an embezzled car.
Now I am left with two options contact the lawyer and pay him to quite possibly loose the cas
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