A trustee is likely to approve your getting a new auto loan. But don't expect a new Mercedes or
Jaguar. More likely, you'll be able to buy a used vehicle below a certain price, such as $20,000
- with a maximum interest rate capped at something like 15 or 18 percent. That's much
steeper than someone with great credit would pay.
Your rate is based on your credit score, called FICO. Scores range from a low of 300 to a high of
850. Rates for a 36-month car loan might range from about 3.80 with a score of 720, to around
17.02 if your score between 500 and 589 (based on 2013 FICO scores).
The longer you've been out of bankruptcy, and the more you've been able to get your finances
back on track, the better your chances of landing a decent interest rate.