Martin Z Sutis Blog

Many people after bankruptcy have been experiencing some problems financing vehicles, as there is quite a bit of bad information out there about the process of approval by the Court.  Second, the lenders are few and far between these days.  The lenders are requesting more information, co-signors and more money down. As the Debtor purchasing the car, you will be increasing your responsibilities after filing bankruptcy.  If you make all your payments on time, the purchase of a car during the bankruptcy process could go a long way in helping you rebuild your credit during and after the bankruptcy.  Likewise, it could save you money on repairs in the long run. With today’s economic conditions being what they are, it may actually be cheaper to purchase a new car, than it would be to purchase a used car.  If you knew me personally, you would never expect those words to come out of my mouth; however, many new car dealerships have excess inventory and need to move cars now. Used car sales are higher than they have ever been and new car sales are down lower than they have ever been.  So, the incentives are out there to purchase new cars.