So, by now you have probably been to at least a few dealerships and picked out a car, truck, s.u.v., or van and proceeded to run through the ringers of the sales process only to find out that you cannot get financing. If you have some “hick-ups” in your credit history such as a bankruptcy, charge-offs, collections, repossessions, credit counseling or even just plain no credit you will probably encounter problems when trying to find financing for you next vehicle. There are a few reasons why you are having more problems than you need to.

When you thought you were ready to buy a vehicle, you went into a regular dealership, talked to a regular salesperson, picked the prettiest car and tried to finance it with the regular finance department. If you want financing for less than prime credit or as a first time buyer, doesn’t it make sense that you would talk a sub prime finance specialist? They are used to dealing with situations just like yours. All day every day they see applications come across their desk that have the same problems and get them financing. They can help you find what vehicle will work best to fit not only your financing needs but your needs in life. When searching for vehicle financing, consider New Start Auto Loans because they have a network of finance managers that are trained to handle your specific need and not just a one stop finance mill that most dealerships have.

When preparing to talk to your sub prime finance manager for a no credit or bad credit car loan there are things that you will need to begin gathering up because the bank will want you to prove several things. First, you will need to gather your most recent proof of income. If you are in the workforce and receive a check that they remove taxes before you get paid this is considered W2 wages and can use a check stub most of the time to verify wages. If you receive social security or disability income or any other form of payments from local or state government you will need what’s called an award letter. This is the statement that comes periodically to let you know how much your benefit amount is. You may also need to show recent bank statements to show that the money goes into your account. If you are self employed or work partly for cash, you will likely need to show tax returns. This is when writing everything under the sun off on your taxes to show very little income is not beneficial. Second, will you need to gather together a few references; usually people will put down relatives since it is easy to track their info down. You will probably need their name address and phone number and will need between three and six references. Next, you will need to show that you actually get your bills at the address listed. This can be shown by providing a current utility bill (water, electric, heat, etc.). And finally you will need to provide your phone bill to show that the phone number you provided is in your name. Remember that when your finance manager asks you for these things, it’s not that they don’t believe what you say, or even really that the banks don’t believe you, you can thank your ever expanding government for many of these things. Bad credit, Good credit, or Medium credit all will need to prove their identity and help thwart the increasingly problematic identity theft.

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First of all, to avoid too much extra info; A bankruptcy is a legal process to eliminate your obligation to pay some or all of your debts. The two most common types of bankruptcy are chapter seven bankruptcy and chapter thirteen bankruptcy. In a chapter seven bankruptcy, you are being released of your obligation to repay most bills, collections, and judgments completely. In a chapter thirteen bankruptcy, you will be required to repay a large portion of your debts, without interest over several years. This is common if you have too many assets to declare chapter seven.

Many people want to get out from underneath many of their bills or collection accounts. Sometimes due to uncontrollable events a person could find themselves with more debt than they can pay back in a reasonable amount of time. Before you declare bankruptcy there are a few things you should asses. First, will it be impossible to get your budget under control without bankruptcy? Many times if you just rearrange this a little you’ll find that with a little sacrifice you can get out of debt in a few years. Second, are you prepared to have a very negative brand on your credit bureau for many years? Once you are out of the bankruptcy you don