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Is it possible to get a new auto loan on a used vehcile after repossession 2 years ago.?
14th March 2011
My husband had stopped working and wasn’ t receiving Unemployment for 6 months due t denial, After he won his unemployment it took an additioal 20 to 30 days to start receiving unemployment checks, which his car had a prior repossession and two week after he received his first unemployment check his car was repossessed and car was sold.
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Auto finance is what I do for a living and yes there are lenders who will give you a loan after a repossession.
One or both of you depending on how you apply must be working since unemployment is not considered income by lenders.
Find a dealer that advertises Special Finance and talk to the Manager they will be able to guide you.
Good luck.
Comment by SPIFIMAN1 — March 14, 2011 @ 11:26 am
Yeah, there are companies out there that will give anyone a loan for a used car. One of you has to be working and unfortunately it won’t be for the best rate.
Comment by remarkabow — March 14, 2011 @ 11:26 am