Bankruptcy Car Loans: Your Questions, Answered

If you’ve experienced financial hardship, there’s good news: we offer bankruptcy car loans to help you get on the road. In addition to providing an avenue to drive an outstanding Chevrolet model, financing a vehicle can help rebuild your credit after bankruptcy. Here’s what to know and how the friendly professionals at James Martin Chevrolet can help.

How Do I Finance a Vehicle After Filing for Bankruptcy?

There are two main types of bankruptcy, and your steps to financing a car will be different depending on which type you’ve filed for. Here’s a snapshot:

• With a Chapter 7 bankruptcy, you’ll likely need to wait until the process is finalized before you apply for auto financing.
• In a Chapter 13 bankruptcy, you can request permission from the court to open a new loan, but once the bankruptcy is finalized, you’re free to finance as you please.

Our Chevrolet finance center includes bankruptcy loan specialists; contact us or stop by and we’ll be happy to walk you through your options.

Does Bankruptcy Affect My Credit Score and Auto Financing Options?

In most cases, bankruptcy does lower your credit score. However, opening up a fresh loan for the vehicle of your choice can rebuild your credit as long as you keep up with your monthly payments. Since we offer financing packages to drivers with no credit, poor credit, or even bankruptcy, you won’t have to worry about whether you’ll be able to get an auto loan.

Which Models Are Available for Bankruptcy Car Loans?

All of our pre-owned and new Chevrolet models are available for financing, even if you’ve gone through bankruptcy.
When you stop by to peruse our inventory and go for a test drive or two, just let us know what you’re looking for. We’ll help you find the right car, truck, or SUV that will help you look forward to driving. Plus, since Chevrolet models come in gas, hybrid, and electric powertrains, you’ll even get to pick the fuel type.

Come See the Experts in Bankruptcy Car Loans in Detroit, MI

Bankruptcy doesn’t have to prevent you from driving an outstanding Chevrolet vehicle. We’ll help you find the right model and create a custom loan package that puts you on the path to rebuilding your credit score. Visit our Chevrolet dealership in Detroit, MI today!