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Step 1
Research a lender that specializes with bankruptcy loans. Many lenders have been founded to solely assist people who have declared bankruptcy. Most of these lenders will help you in receiving auto loans after bankruptcy.
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Step 2
Establish credit cards before applying for an auto loan. If you have established a few credit cards and have made your payments on time, this can increase your odds greatly. This will show the lender that you can now manage your debt and are serious about paying it off.
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Step 3
Have a cosigner. Before asking someone to cosign a loan with you, make sure that they have an extremely good credit score. Anything less than a good credit score will do more harm than god.
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Step 4
Show the lender a simple cash flow statement. Show them how much money is coming in and each month and how much flows out each month. Make sure to break down the details and show exactly where and why the money is flowing out.
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Step 5
Compare loan rates and go with the cheapest lender that will offer you a loan.
