I have included in BK (CH13) an auto which is past warranty by 30K miles (it's at 60K). My wife and I didn't take very good care of it, and I suspect that within 6-12 months it will fall apart -- or at the very least require thousands to fix (KBB value is $3-4K, and HAFC states it has $9K in the vehicle). Also, I have 3 kids and a grandparent, and the small sedan isn't going to cut the mustard (not enough seatbelts). I need to get an SUV. I can probably work a second job (I actually started it right after filing Ch13), and I may be able to buy myself out of the old loan, and get that debt discharged through Ch13 early, within 3 months. Thus said, I need to get an SUV type or MINI van type of vehicle. I will have spare income, and my atty advised me that I won't necessarily have to report the spare income (it's to a business I own). See where I'm going? The problem is, no one in their right mind would loan money for a used/new auto loan to a person 30-90 days inside of a fresh ch13 filing, would they? I'd hate to pay cash (well, it would be nice not to have that pmt), but I may have to if I can't find financing. Any ideas?
They would if the interest rate was right...20 or 25% You might be better off paying cash for a pre-owned vehicle if you have a business maybe you could get the car in the business name?
