Chapter 7 Bankruptcy

How to get a new set of wheels even after you just filed for Chapter 7 BK. Let Best Choice Motors and our expert finance team help you get back on the road again with these tips

Start by noting your priorities

Identify the right car deal for you not just the car you really "want". First priority is you will need to Re-establish your credit.

While it can be tempting to try to buy a new car, the priority is getting reliable transportation you can comfortably afford. Best Choice Motors can help you consider a reliable used car. After all, why buy something that depreciates 20 percent when you drive it off the lot, this will just put you in another bad spot. We have the best inventory back of book to get you in the best position possible after filing for chapter 7 bankruptcy.

Be informed about what is the best vehicle for you

Also, Indiana residents should consult a reliable auto rating publication, such as Consumer Reports, and look for vehicles in the $10,000 to $15,000 price range that are only 2-4 years old. You'll be driving your car a lot, and you need something that can handle the miles you will add to it without lots of maintenance. It doesn't take a lot of time, energy and or even money down to get equitable financing with Best Choice Motors.

Make positive strides by paying your loan on time

You want to log at least twelve months to 24 months of paying your vehicle loan on time and then you may want to consider refinancing. You should establish this as a goal to move forward. Also if you have credit cards don't attempt to make a major purchase that will require financing. Your credit score may have improved slightly because of the positive payment history and you could qualify for a lower rate of nicer newer SUV, car, or truck.