How Can Auto Financing Help Me After a Divorce?

Divorce is already devastating enough. After you get clear of the personal whirlwind, you are left to focus on the business at hand – dealing with the financial fallout.

Depending on who got what in the divorce agreement, you may or may not have been left with an automobile. In either case, we may be able to help you.

Regrouping After the Court Case is Closed

Manheim Reports Rise in Used Car Prices

There are many financial repercussions from a divorce, and the team here at Auto Credit Express has seen it all. These post-divorce situations have been found to be the most common.

  • Your credit tanked. It is possible that during the divorce you or your spouse fell behind on payments on loans or credit cards, or perhaps missed payments on utilities. All of these can damage your score if these accounts were in both of your names.
  • You lose your car in the divorce. If you were the one to be left without a vehicle, chances are you will need a car. If your credit is an issue, we can help. Our online application is quick and easy, and we have helped people all over the United States and Canada get into a quality vehicle.
  • You get the car, but their name is on it too. If you jointly owned a vehicle and you were awarded it in the split, the best thing for you to do is get it refinanced in your name only. It may feel great to stick it to your ex by forcing them to remain on the hook for the payment, but if they don’t pay – someone will come and take it away; leaving you without a vehicle, as well as dragging your credit into the pit along with theirs.
  • Legal fees.If you had lawyers involved in your case, it is likely that you are in a position where you owe money to the attorney. This will affect your new financial landscape.

When life happens, it’s not always pretty; it’s a fact that one simply needs to accept. However, that doesn’t mean that there isn’t a way around it.

Recovery Isn’t Far Away

One great way to reestablish your credit after divorce is to open an auto loan. Over time with punctual payments, you’ll find your credit score will be on the rise.

It may seem like a strange approach, but if you were left without a car, you will need some way of getting to and from your job as well as all of the other aspects of your life. Also, you will be repairing your credit. Since a bad credit car loan can help you rebuild your history, you would be solving two problems at once, and that’s always a good thing.

Just because your marriage ends doesn’t mean that your life ends. Move forward by doing what is best for you. You can start by filling out our simple online application. It will only take a few minutes of your time, and you will find yourself back on the road in no time!

Posted on July 13, 2014 by in Auto Loans
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