Just received offer from Dodge after Chapter 7?

J

Jon

New member
My debts were finally discharged in my chapter 7 bankruptcy. I just received a letter from a local Dodge dealership saying that they specialize in helping out people who have gone bankrupt. I am interested because I pay through the roof monthly to keep my old rust bucket running so a car that requires no costly repairs each month is very desirable. My question is - is this dealership going to try to screw me or is Chrysler/Dodge in a position where they will give me a good deal? What do you think?

Note: The bankruptcy was because of medical bills that I could not cover. I am now in a much better financial spot earning a decent salary.
 
They are going to charge you way too high of an interest rate. They like customers like you because you cannot file bankruptcy again for a long period of time (I'm not sure of the exact amount of time since the laws have changed). Don't do it. You'd be better off trying to save enough to buy an inexpensive but decent car with cash.
 
Keep the clunker and save up cash for another car. First because you will be paying doubt digit interest (18-25%)OR you will be getting another clunker through one of those buy here pay here plans. Learn to save for a rain day and learn a lesson from your BK.
 
It's very common to get flooded with offers like this after you've filed for Chapter 7. They aren't doing this to be nice...rather, they know that you can't file Chapter 7 again for 8 more years so they'll have you by the **** if you get a loan with them.
 
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