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Car Loan Tip No. 66

Auto Loans After Bankruptcy - Are YOU Ready?

There are many lenders out there who are more than willing to offer people auto loans after bankruptcy. But are you really ready for a car loan now? Here’s how to know - when the car loan is calculated, the payments cannot be over 20% your of monthly income. Another ‘rule’ is that the overall car financing amount cannot be over 8 times your monthly income. If you cannot meet these parameters then you may not be ready for an auto loan just yet.

Written by: Anthony Recto

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