This is a tough call. Generally when someone declares bankcruptcy, they look for well established credit afterwards. Does he have an explanation for having a repo after a bankcruptcy, and how long afterwards was it? Seeing as you have had issues before, whether they approve you or not, you should take a hard look at what you are doing, and make sure that you feel comfortable with the payments you will have, and your debt ratio. There are times that desktop underwriting will approve a ratio up to 55%, but after having taxes, social security, possibly insurance and other things deducted, you are not left with that much to pay your other bills and buy food. I would say that if your debt ratio is relatively low, let's say a total of 38% including the new payment, you should be fine. That is the old fashioned ratio, and it's possible that we never should have gotten away from that. Even if you put a minimum amount down, you are paying off principal with every payment, and you wouldn't want to lose any of that if you couldn't make your payments.