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Approval 4 months post BK Discharge

The last post in this topic was posted 3609 days ago. 

 

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My friend's bk was discharged in 8/10. She and her hubby both started rebuilding with CapOne credit cards shortly thereafter.

 

They're in need of a vehicle. I told her this close after BK, if they got approved it was gonna be like 20% interest or something like that. I was wrong. Very wrong!

 

They applied with CapOne and holy cow, I'm stunned at the interest rates offered. I asked her if she was sure she entered the right SSN's <g>....

 

For a 2010 or newer, the rate is 5.55% for 48 months up to 5.86 for 66 months

2009 6.87 (48 months) - 7.70 (66 months)

2007-2008 - 7.63% -8.45%

For a 2003-2006, the rate goes from 8.87% - 9.70%

 

CapOne only has certain dealers that it works with - so of course they found a used car at a dealer that isn't listed... so she wanted to apply at another lender.

 

I think she's nuts - she should take those rates and find something at one of the approved dealers. I can't imagine getting a better rate 4 months post-discharge!

 

Am I wrong? Or do you think she can do better???

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