Chapter 13 Bankruptcy in Texas 

While you are in Chapter 13 Bankruptcy you are not allowed to incur any new debt without the court's permission, so you must get the court's permission prior to purchasing a new car.  Your bankruptcy lawyer will need to file a Motion to Incur New Debt with the court.  The Motion can not be filed until the fee ($400) has been paid in full.

How To Purchase A New Car | Texas Bankruptcy

You should look for a vehicle with payments that you can afford.  You will need to have the lender draw up a contract for purchase that lists the total amount to be financed, the interest rate, and the payment amount.

You will also need to provide to your Texas bankruptcy lawyer three of your most recent pay stubs and any other proof of income that you are currently receiving along with an updated list of your expenses even if there has not been any change since the filing of your case.  If you fail to provide this information with the contract, your Texas bankruptcy lawyer will not be able to file the Motion to Incur.

Purchasing A Car While Bankrupt

In addition, if you currently have an auto being paid through your Chapter 13 bankruptcy plan, you need to provide your Texas bankruptcy lawyer with a written statement with the year, make, model and your intentions with regards to the auto that is being paid through your plan (ie surrender, wrecked, broken down, etc.).  If you wish to keep the auto that is being paid through your plan, then your lawyer will need a written statement as to why you need another auto.

Special Financing and Bankruptcy Car Purchase at Texas Toyota of Grapevine

How can Texas Toyota of Grapevine help?  With over 25 lenders, huge inventory and a convenient location just 2 minutes North of DFW International Airport Texas Toyota of Grapevine is here to help.  We will do whatever it takes to get you financed in the new Toyota car or truck you've been looking for.  Whether you have no credit, bad credit, or have recently filed Chapter 13 bankruptcy, we are a Texas dealer that truly cares about you and your family.  We want to help you find the new Toyota or used vehicle that fits your wants, needs, and your budget.  Give us a call or schedule a test drive appointment today to get back on the road, regardless of financial status or bankruptcy.