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Bankruptcy Car Loans

All loans are possible to get – the impossible ones just take longer. And now at Carloandaddy.com, it doesn’t even take that. Yes, you have come to the right place if you are looking for bankruptcy car loans.

If you’re in the middle of bankruptcy proceedings, you may find it extremely difficult, even seemingly impossible, to get another car loan. But a car is something you need every day. Can you afford to wait till the proceedings are over, before you can get funding? Obviously not. So what do you do? Relax. You have already done what you should do. You have already taken the all-important first step – you’ve come to Carloandaddy.com!

You might be asking yourself how we’re going to do this for you. Well, the answer’s a little complicated, but we can tell you if you’re interested.

You see, all car loans and their repayments have certain aspects to them. First, there is the amortization period, which is the duration granted to you for paying the loan back. Next, there is the interest rate – obviously, for why else would anyone want to lend money? Then there is the down payment. This is the amount you have to put up yourself, and the rest of the car’s price will be borne by the funding company.

In the case of normal car loans, these three principal factors are governed by going market rates. But in case of extraordinary loans, like bad credit car loans or bankruptcy car loans, unscrupulous lending companies take advantage of the borrower’s situation and hike these to incredible heights.

For example, the normal amortization period for new car purchases is around 5 to 7 years on an average, for people with blameless credit histories. However, in case of a bankruptcy car loan, finance companies may want to cut that down to between 2 and 4 years.

Further, down payments in uncomplicated cases are usually less than 20% of the total price of the car. But in special cases, a finance company or a car dealer will want to increase that to between 20% and 50%.

Depending on the status of the credit history, bankruptcy borrowers will often find themselves paying far higher interest rates than what the market offers to other borrowers. If your case is very severe, you may even find yourself paying a 144% interest per annum!

Then there are other pitfalls like title loans, putting up your already owned vehicle as collateral for taking out further loans at unfair rates, one loan taken to cover up for another, and so forth, any of which can complicate your case beyond recovery, and place you in a debt trap that you’ll find very difficult to escape.

So what do you do? Do you give up the idea of riding a car ever again and take resort to public transport for the rest of your life?

No.

You come to Carloandaddy.com. Carloandaddy.com is the premier online bankruptcy car loan company that will guide you surely around these pitfalls of the world of finance, and set you up to own the vehicle of your dreams – without any effort on your part!

Simply fill out the form with relevant info and let us work our magic for you. In no time you’ll be the proud owner of the meanest piece of metalwork ever to burn the blacktop in your locality.

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