Hi Marv,
I have read your advice and my hats off to you. So I submit the following:

Your Age: 46
How long have your been on file with the CRA’s? Oldest TL is 1988.

Credit Scores: Equifax ? See notes below
Experian ?
TransUnion ?

Your Credit:
Rate your OVER ALL credit from 1-10: 3 (I’m guessing)
Rate your installment Credit from 1-10: 3
Rate your revolving Credit from 1-10: 3

Public Records?
If yes, please describe: yes, double BK7. One in 1995 (going to fall off CR Nov. 2005) and one in 2003, discharged March 2004.

Auto Loans:
Do you have an open auto loan? NO

Credit Cards: 0

Your Info:
Total Provable MONTHLY GROSS income: 2430.00
Provable via computerized paystubs or what method: Stubs

New or Used Vehicle: new or used, that is the question.
Please describe desired vehicle: 2004/5 Echo, Corolla, Civic or similar

Please leave any comments that your feel may be pertinent and may lend added weight for a favorable outcome.
I have:
2 former mortgage TL reporting $0 balance, PAA no lates
1 SallieMae TL from 2002 $11500 balance, PAA no lates $120 per Mo.
5 TL reporting $0 balance (including AmSouth auto loan) all reporting as IIB
2 TL at CA’s that I listed in BK that I am currently disputing/validation/etc.
I have been disputing with good results: no more CO and 5 TL IIB, did not opt for FICO scores last time I pulled CR, but will when current disputes are returned.

I have only my SallieMae loan that I pay every month.

As you can see I'm in the process of rebuilding. I have a questionable '95 Esteem that is slowly dying. I'm looking at options including BHPH, simply because of my history. The end of the year is nearing and I'm wondering if I should take advantage of the year-end selling frenzy and offer my trade and $500 down, or waiting until I get my tax return and put down @ $2500?
I'm really doubtful that my Suz will last 'till March. What can one expect that the dealerships will do to sell at the end of the year? Are the dealers desperate, or is it business as usual? I'm not looking for an Escalade or Mercedes, just a reliable transpo., with an ability to rebuild CR. So, New or Used? Which would be easier in my situation? BTW, I live in Indain Rocks Beach.

Thanks Marv!!!!

Bill

Were it me, I would not go buy here pay here type financing.

Usually a double BK is a certain kiss of death, and will automatically throw the application into the decline queue.

There are a number of lenders who will take a double BK applicant especially with the length of time separating them.

They are normally tertiary lenders, and IMO you will need at least $1000.00 as down payment (not rebate/trade etc....)

As far as the purported year end selling frenzy, thats fine if the consumer is a cash buyer or has impeccable credit files. Since dealerships are in business to make money, no one will turn you away, but your situation will require some work IMO, but not impossible. It is likely that you will be limited to the 8-12K range for a finance amount, and this will have to include whatever fees the dealer/lender tacks onto the loan.

But I suspect you to be able to get done.