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Step 1
Send for your credit report right after your bankruptcy is closed. Credit Infocenter is an online site that provides contact information from all three credit-reporting agencies (see Resources below).
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Step 2
Examine your credit reports when you receive them. Make sure you correct all errors before you apply for your low-interest rate car loan. The bankruptcy itself should be the only negative item on the reports.
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Step 3
Do your homework before you apply for your low-interest rate car loan. Decide how much you can comfortably pay for a car payment and how long a term you want. Look at vehicles that allow these terms.
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Step 4
Use a car loan lender service such as E-Loan. Make sure you let them know about your bankruptcy and how much you can afford on a new car. Show them some responsibility by requesting a car loan you can actually afford (see Resources below).
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Step 5
Tell them what circumstances led to your bankruptcy and how you overcame those difficulties. Make sure they know about any positive recent improvements to your credit.
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Step 6
Take the best low-interest rate car loan offer. Pay on time for 6 months and then ask to refinance the loan at a lower rate.
