Everyone who doesn't fit into the category of "excellent" credit is considered a "sub-prime" borrower.

Equifax conducted a three year study showing:

  • Borrowers with a sub-prime auto loan showed a significant increase in their credit score. 
  • Borrowers improved their credit score by an average of 52 points
  • Borrowers had a 62.5% improvement over the average score change of the group that did not take out a loan.
  • Borrowers who took out a sub-prime auto loan were four times more likely, than those who did not, to have improved their score to a level above 640, moving them out of the sub-prime segment.
  • Click here to read the about understanding and getting your free credit report from Equifax.
good credit score ahead

How do I qualify for an auto loan with a bankruptcy on my credit report?

  • Some lenders are reluctant to provide a car financing to those with a past bankruptcy. The chief concern is if a person has defaulted on a loan in the past they might just do it again. We work closely with many lending institutions and we know which lenders are a best match for borrowers unique situations. Everyone is different and some lenders make more exceptions when qualifying for a car loan.
  • When you are able to secure financing for a car loan with a bankruptcy showing up on your credit report, you will usually find that it is at a higher than normal interest rate. We have an Interest Rate reduction Program so borrowers have an opportunity to lower their Interest rate over time by making your payments regularly on time.
  • If you have recently gone through a bankruptcy and are now finding it difficult to obtain financing for an auto loan, don't worry. You won't have to wait years for the bankruptcy shadow to reflect negatively on your credit report before you can purchase a vehicle.
  • It is possible to get an auto loan with bankruptcy on your credit report. You have come to the right place and we will help you today!
  • Do you have less than perfect credit?  
  • Are you about to graduate from college and have no credit at all?
  • Have you experienced divorce and lost your credit history? (it's not that you have bad credit; rather perhaps you don't have a credit history in your name).

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Larry H. Miller Chrysler Dodge Ram FIAT Denver

2727 S Havana St
Directions Aurora, CO 80014-2803

  • Sales: 8559741652
  • Service: 877-830-1727
  • Parts: 877-652-9511
How can I improve my credit score after bankruptcy?
Old Bad debt is not erased from your credit report, what is reported is that you had debt and that you filed for bankruptcy. Bankruptcy does not give you a good credit report, or automatically repair your credit. You will need to repair your credit by paying your debts on time after the bankruptcy. Even though bankruptcy will remain on your credit report for ten years, you can start rebuilding your credit right away.

Credit scoring companies look at several factors when determining your score.

  • What is your payment history, do you pay your bills on time or have filed for bankruptcy?
  • Do you have any outstanding debt?What is your length of credit history?
  • How much new credit have you applied for?

What factors determine what my monthly payment will be on a car?

  • How much you borrow
  • The interest rate
  • Terms of the loan

When I qualify, how much down payment money will I need?

  • The down payment money amount that you will need is based on a number of factors.
  • You may get a general idea of the amount by first determining your credit profile
  • A trade-in is like a down payment
  • An additional down payment may be required if there is a lien on the vehicle you are trading.
  • A Cosigner may be considered for a Buyer who does not comply with all the credit requirements. 
  • The income of the Buyer, however, must meet all the income and budget guidelines without reliance upon the income of the cosigner.

What are the monthly payments?

  • Monthly payments are based on your credit profile and the vehicle you are purchasing.  
  • Newer, lower mileage cars qualify for extended terms.
  • The best payments are on less expensive cars that have under 50,000 miles.
  • If you have an idea of the amount you want to finance and the interest rate you will qualify for use our Payment Calculator to estimate your payments.