Getting Approved for an Auto Loan After Bankruptcy at Ganley Chrysler Dodge Jeep RAM Inc

We understand that sometimes mistakes happen or circumstances beyond your control put you in a situation that isn't ideal. Sometimes difficult decisions must be made and the impact they have can be felt long after. Bankruptcy is never an easy decision for anyone and the impact it has can cause major ramifications year down the road. It can be the right financial decision for you, but it doesn't mean that it doesn't cause another set of issues. One of the issues that bankruptcy might cause is difficulty getting approved for automotive financing. Ganley Chrysler Dodge Jeep RAM Inc, located at 310 Broadway Avenue in Bedford, OH, has a finance team that can help you get back on the road to repairing your credit and onto your next auto loan.

Repairing Your Credit

If you're a Cleveland, OH resident who has filed for bankruptcy and are interested in getting an auto loan. There are few things you should do to give yourself the best chance towards approval. The first thing you should do is check your credit report. You are entitled to a free credit report and you should take advantage of it to ensure that there is no inaccurate or old data on the report that is still impacting your score. If there is information on you report that shouldn't be there, you can file a dispute to get it removed. The next thing you should do is start saving money for a significant down payment. A good rule for our customers along the Bedford Auto Mile is to use is to think about it from a bank's perspective. A larger down payment means that there is less risk for a bank. If you have a vehicle to trade in, that will count as equity.

Another thing you should do is make sure you are organized when you come into the dealership. You should have copies of your recent paystubs, proof of residence like a utility bill, copies of your bankruptcy discharge paperwork, and references. Continue to pay your current bills on time and monitor your credit to see the products of your efforts.

A Kind and Compassionate Finance Office

The finance professionals at Ganley Chrysler Dodge Jeep RAM, Inc, in Bedford, OH, will work with you in an understanding and caring manner. Contact our finance center today to discuss your situation and plan the best way to get you into a much-needed new vehicle.