Even consumers with excellent credit find buying a car to be stressful; it is not hard to imagine how those people that have been through bankruptcy must see it. Regardless of what drove you into bankruptcy in the first place, perhaps huge medical bills or you lost your job, you are more than likely to feel embarrassed and that getting a car loan after bankruptcy in Norman OK will be impossible.

Don’t feel this way, there are options open for you. There are many lenders that are willing to work with people that are in the process of digging out from under their past financial problems. Don’t assume for a minute that a lender will not talk to you.

Think your situation through and take a few steps:

  • Always get your credit report and score first: This may sound like a strange thing to do, after all, chances are it is not going to be pretty. Face it; the lender will probably check it so you are better off knowing in advance what they will see. These reports are not always accurate; mistakes are not uncommon occurrences.

  • Pull together a down payment: After bankruptcy chances are your cash flow is going to be far better than it was, this will allow you to save towards a down payment. It is not always possible but building up a savings cushion before applying for credit can help. To a lender, applying for a car loan after bankruptcy in Norman OK is a risk, the larger cash down payment you can make the less risky you are in the eyes of the lender.

When you go out looking for a car be prepared with those things a lender will look for. Take along recent pay stubs that show a steady income, have a paid bill that gives your name and address, references and your driving license. You will never get the best rate of interest at this time in your life but you can expect far better than the worst when you have a down payment and you go prepared to buy.

Bankruptcy is not the end of things, it is a new beginning and there are dealers that will work with you and offer a car loan after bankruptcy in Norman OK. You can expect fast approval when you deal with The KEY where financing is made easy. Contact thekeyonline.com to apply for a car loan .