Apply Today, Drive Today With a Bankruptcy Car Loan!
Why Get a Bankruptcy Car Loan?
Bankruptcy gives you a fresh start. Make the most of it by financing a vehicle purchase to enjoy these benefits!
Benefits of Working with Day One
You’ll get the most benefits when you choose Day One to find the bankruptcy car loan that best meets your needs.
No Money Down
LEARN MORENo Money Down
We can offer most customers no-money-down loans with payments that will fit your budget.
No Money Down
We can offer most customers no-money-down loans with payments that will fit your budget.
LEARN MOREUnbeatable Experience
LEARN MOREUnbeatable Experience
We’ve been working exclusively with bankruptcy customers for years. We know how this works and how to make it work for you.
Unbeatable Experience
We’ve been working exclusively with bankruptcy customers for years. We know how this works and how to make it work for you.
LEARN MORESpecialized Lenders
LEARN MORESpecialized Lenders
We’ve spent years developing relationships with lenders who work specifically with bankruptcy customers.
Specialized Lenders
We’ve spent years developing relationships with lenders who work specifically with bankruptcy customers.
LEARN MOREGreat Cars
LEARN MOREGreat Cars
A great selection of top-notch late model vehicles from sedans to SUVs to pickup trucks and anything in between!
Great Cars
A great selection of top-notch late model vehicles from sedans to SUVs to pickup trucks and anything in between!
LEARN MOREApply in Minutes!
Here’s What Our Customers Say
Read moreMistakes to Avoid When Filing for Bankruptcy
We’ve been doing this work for years and we’ve seen it all, including people making these common mistakes.
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Buying a Car for Cash
Paying cash for a car won’t help you rebuild your credit. Getting a car loan and making on-time monthly payments that are reported to the credit bureaus is a way to start fixing your credit.
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Getting a BHPH Car Loan
BHPH stands for “buy-here-pay-here” car dealerships, which means they offer what people also call “in-house financing.” Make sure you read the fine print to understand the terms and rate. But if part of your goal is restoring your credit, we’ve heard some BHPH dealers don’t even report to the credit bureaus!
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Buying a Car with High Miles
When you settle for an older vehicle with high miles, you often end up paying a lot more in repairs that you expected.
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Buying an Expensive Luxury Car
You probably won’t get approved, and even if you do, what happens if things change and you suddenly can’t afford it? Luxury cars also cost a lot more to maintain, repair, and insure.
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Buying a Brand New Vehicle
The big hit you take on depreciation means you’ll be “underwater” or “upside down" on the loan for years to come. Used cars are cheaper. Buying a high-quality used vehicle gives you more car for a lot less money!
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Not Getting GAP Insurance and Service Contracts
GAP (guaranteed asset protection) insurance is important because it covers the difference between the balance of a loan due on a vehicle and what an insurance company pays in the event of a total loss. A service contract ensures you won’t be surprised with huge repair bills when something goes wrong.
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Buying a Car for Someone Else
This is nearly always a bad idea because guess who’s on the hook for it no matter what goes wrong – YOU!
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Buying a Salvage Car
Salvage cars are cheap, but almost always come with a host of problems that will start appearing and costing you tons of money in repairs. Just say no!
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Buying a Car You Can’t Afford
The last thing you want to do with your fresh start from bankruptcy is buy more car than you can really afford. If you experience any kind of hiccup with your income, you could end up in trouble. You should avoid even going for anything that results in a monthly payment that would be a stretch for you to make. Set yourself up for success by shopping for vehicles that are well within what you can afford.
How It Works
It’s as easy as 1-2-3! Your satisfaction is our top priority. You’ll love being treated like a VIP with stellar customer service. Our 3-day money-back commitment guarantees your satisfaction!
Getting a bankruptcy car loan with Day One is as easy as 1-2-3!
Day One Eligibility Guidelines
Day One Credit takes pride in helping nearly everyone who comes to us, but there are a few situations where a bankruptcy car loan isn’t the best option. Read below to see when we think you’re eligible and when we think you are not.
When We Think You’re Eligible for a Bankruptcy Car Loan
When We Think You’re Qualified
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Income
Minimum gross monthly of income of $2200 per month as shown on either W-2 forms from employer or 1099 forms for those who are self-employed.
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Bankruptcy Status
You need to have filed your BK or your BK has to be recently discharged. We can work with you as soon as you get your case number. We have programs for both open and recently discharged bankruptcies.
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Valid Driver’s License
Your driver’s license must be up-to-date and not suspended.
When We Think You’re NOT Eligible for a Bankruptcy Car Loan
When We Think You’re Not Qualified
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If You Have a Newer Car
You already have a great car. If your current vehicle is newer, has relatively low mileage, is paid off or close to being paid off, then it makes sense to stick with it.
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Income
No stable income or you know you’re income is about to drop or your expenses are about to go up (or both).
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Bankruptcy Status
The cosigner on your car did not file for bankruptcy. You can damage your cosigner’s credit if they did not file BK with you. You have the right to surrender your car, but your cosigner does not have the same right, and the lender will still go after your cosigner.
Check Out Your Next Ride!
We have a great variety of makes and models available. Here are just a few of our recent sales. Roll with our most popular models or let us know what your ideal car is!
Got questions? We’ve got answers!
Read the top questions customers ask us!
Attorneys We Recommend
We’ve worked with these bankruptcy attorneys and highly recommend any one of them!
