Has anyone out there attempted to purchase a car after a chapter 13 was discharged? I will try to keep my 1998 on the road until I'm done, but know I'll need another car by the time it's paid off. Will I have to wait 10 years before I can buy another car? If financing is an option, what should I do to prepare? Will I need a large down payment and if so, how much would you suggest? Will car dealers even consider me under these circumstances?
I've known of people getting letters of reference from trustee's to buy a car even DURING their cases. You shouldn't have a problem by now if your case is discharged. Have you kept everything paid up and current? All the better for your credit history. There's lots of good advice on this board about car loans and lenders. I'm sure you'll get plenty to this post also! I just wanted to say that your chapter 13 won't stop you. Newstdt
As a Master Auto Tech I can't think of too many cars that wouldn't make it 'til the loan was paid off, unless the loan goes goes for 10 years or the car is a Hyundai, Kia or Mitsubishi! LOL! Seriously though, as the owner/driver of four POS vehicles vintage circa '86(200K), '86(207K), '88(190K) and '89(165K) I'd be ECSTATIC to have a 1998 vehicle to "worry" about! With regular care & maintenance, most of today's cars will easily last 200K and replacement engines/transmissions are fairly cheap. So, unless you are driving the wheels off the car and not caring for it, a car should easily last the life of the loan. REMEMBER: If you can only do ONE thing for your car, change the oil and filter EVERY 3,000 miles religiously. It is probably the single most important(and cheapest) maintenance you can perform. Just be REAL careful of those quicky, cheapy places though. A $25 oil change at your trusted mechanic's place is well worth it and you can wash your own windows and vacuum your own carpet! Without sounding judgmental, isn't having to have new cars and stuff what got some of us here in the first place? I know it did me! I don't have a whole lot of suggestions about credit repair (other than my own experience), but I do know cars and would be happy to provide advice for anyone that needs it. P.S. For those of you with cars that have timing belts, make sure you play it safe and get a new one at 60K.
Here's some great news for you Mary, tho admitedly it doesn't feel like it right now. Discharged ch13's are gone in 7 years not 10. Expect about 20% down with a clean pmt. history for 2 years, should get you driving in style.
With Cap One, I could have put down just $1000 on a $30000 loan. I put down 25% on my Audi - which was over $10K. I have a high interest rate at 12.95% - but I will keep this car 10 yrs - just like the Maxima I sold before the Audi. LOTS of places in California will give you 3-4-5-6-7 % with a reasonabale down. When FICO is 650 - you get 0.00% aarrff - dogman
Hey Smogtek - GREAT INFO! And YES - we need someone with sound auto advice... EX: if you see someone here about to buy or lease "X" and you know of specific info that could help, you'll be knighted!!! smogtek - yup - I always change oil every 3000 miles. I had the AUDI serviced at 5K..LOL! Are those American motors - or - er - Hondas that you have that has all those miles???? I love cars - they are my best hobby. I videotape Motorweek - yup! aarrff - dogman FYI - Cap One up front in their offers saidthey would not finance KIA or Daewoo brands.....I can see it now, Dogman gunning the 4 cyl Daewoo - against the wall against a Mini Cooper S!
dogman, 86 Isuzu P'up, 86 Accord (eng ovhl in progress), 88 Accord (trans replace in progress), 89 Probe(Mazda). All need paint and body work (minor), but man do those A4s keep their distance! LOL! butch, Why is it that a discharged 13 goes away in 7, but a dismissed 13 has to go 10? Seems like the fact that I didn't really BK should be a good thing, eh?
NICE cars smogtek - serious. I always like the body style on those Isuzu PUPs - they still look nice and of course the hondas are durable. Plus - I can tell you COULD OF given any of them up - but - you know cars. I had the 95 MAXiMA - I HAD a 1991 Integra - man I loved that car - I had the cheapest stripped RS 5 speed. BUT it was fantastic. aarrff - dogman
Thank you guys, so much! I felt so devastated having to file to help pay these debts, but I just couldn't get the car refinanced, along with everything else and I was drowning. I didn't know a discharged Chap. 13 disappeared in seven years...thought all BKs went 10. I ususally buy new cars since I am not mechanically inclined and don't have access to a trusted mechanic. I would be in hot water if I chose a lemon and couldn't afford to keep it up. I have kept up on the maintenance with this car (at least the oil changes) and hopefully it will last the duration. Good to know, however, that the possibility exists for another, if the trustee agrees. I didn't realize that could be an option, either. I feel much better now. Again, thank you all very much!
Also, Cap1 is reasonable and I'd likely go with them first. I'd apply and see what you get... Ford will do reasonable rates... If you are interested in Ford Finance, I advise taking a copy of your credit report into the finance manager and discussing it before he pulls your credit... whatever they offer first (the Ford Manager)... ask for better terms always good in negotiating
marydjw, A couple of questions, if you don't mind. 1) What kind of car is it? 2) How much do you drive it? 3) How many miles are on it? 4) Did you but it new or used?
I won't be doing this for a while...I just got started with the filing. I just have to keep up the house, as well, and kind of wondered if I needed a lot of capital, how would I be able to survive? I'll be tied down for so long. It would be nice to think cars and homes will last w/o major repair for the next 5 years, but that is not realistic. Thanks for the response...! I'll keep the advice in mind! Oh, car is a 1998 Buick Century, 50,000 miles bought new in 11/98.
Actually Mary, for the car you own, it is realistic. Today's cars don't even start to break in (pardon the pun) until about 100K. Your particular car, if it has the 3800 V6 I believe it has, isan excellent vehicle. No timing belt to worry about. Distributerless Ignition System (only requires spark plugs and wires for a tuneup). Maintenance & other items to consider at 50,000 miles, if you haven't already done so: 1) Replace the spark plugs & spark plug wires (don't believe the "100K before a tuneup" hype). Cost using AC-Delco parts about $200 (less than 1 car payment). 2) Replace the fuel filter and always keep the gas tank over 1/2 full (the fuel pump is in the tank and it uses the gas to cool it. Also more gas decreases the amount of sediment that the fuel pump sucks up. Heat and dirt are the enemy here). Cost about $60-75. 3) Replace the air filter (a restricted air filter can cause your car to run richer, use more gas and contribute to smog). Air filters are about $10 and most people can do it themselves without tools. 4) Get the fuel system serviced. Preferred method is one where the fuel rail and injectors are cleaned using the MotorVacâ?¢ method. This "isolates" the fuel system from the fuel tank and uses a cleaner/gas combination to run the vehicle for about 45 minutes and cleans deposits from the fuel injectors and fuel rails. IT WORKS and actually does more for a fuel-injected vehicle than a conventional "tuneup" of replacing spark plugs. Cost about $75-100. Hope this helps you out.
Mary, Tried to answer your email, but it bounced back. Here's my response: None at all. Just plan for the same preventive maintenance I outlined in my post and you'll be OK. I personally prefer the 3800, but the 3100 is a reliable engine as well. Most importantly, you need a mechanic that you can trust. In California you can look up the status of a shop online at http://www.autorepair.ca.gov/stdhome.asp For other states I'd suggest checking out http://www.iatn.net/dir/search.asp You can read about iatn on their site. While I can't personally vouch for each and every one of them, it's a good place to start. Hope this helps.
