In a welcome, and unexpected, phone call today I was informed that we will still be able to offer those in an open (undischarged) bankruptcy auto loans through Prestige Financial.

Last week, Prestige pulled out of Washington and Oregon completely. Upon further review, Prestige decided they would stay in the state on a limited basis. They are going to be working with many fewer dealers than before. They will also only be lending to those that meet their underwriting requirements which now include an open bankruptcy.

Prestige is the only lender still around that offers bankruptcy auto loans with no down payment required. Over the past 5 years, WA Auto Credit has put between a third and a half of our auto loan customers with Prestige Financial.

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This entry was posted on Wednesday, January 28th, 2009 at 9:23 PM and is filed under Bankruptcy Auto Loans, Chapter 13, Chapter 7, auto dealers, auto industry, auto lenders, automotive news, bankruptcy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.