Is it just to hard to go from a 08 car to a junker

[debtmonster]

Come back in six months and say you own it.

What will you do if I do that with a 2010 car instead of a 2007?

[BkinTX]

Come back in six months and say you own it.

[bigtim6656]

I agree in a way. I own 07 truck i bought it on payments from my dad. I do not want a old truck i have no want to go back to worring about repairs. Though having a good paying job does not mean car payments are not a big deal there are alot of us here who make alot of money but yet filed bankrupcty. Question was that loan or credit card bill or what ever that pushed you to file not a big deal at one time.
When i get discharged i plan on getting a auto loan to build my credit hopefully one on my current truck. If not i will eat the finance money and interst and buy me a new motorcycle. Been wanting one don't want or did not plan on paying 20 or 25% to buy one but i need to build my credit quick some how.
P.S i do not have a job. But i am a full time student. I am lucky my dad is a disabled vet and i get paid 900 bucks a month to go to college.

Not to have a pissing contest or anything, but I'd rather finance a reliable car than to own a car that needs constant repairs.

When you have a good paying job, making car payments are not big deal. When you have no job, then I guess it's more important to own an old car outright.

I suggest you buy a Haynes manual and have lots of tools. Been there, done that. Don't miss it. I'd rather have new, or almost new than a 10 year old junker.

[debtmonster]

Yes i do in 6 months it will be paid for. A 07 chevy 1/2

THANK GOD it's not a 1995 Chevy 1/2. Thanks for buying a 2007.

[bigtim6656]

Yes i do in 6 months it will be paid for. A 07 chevy 1/2

I OWN my vehicle. Do you own yours?

[BkinTX]

If you have no job, you don't need a car, LOL.

We are coming out of bk debt-free with the exception of my student loans. I don't intend to go in to debt to keep up status.

We purchased a reliable, well cared for vehicle. We own it outright. No payments. If only lasts us 4 months it's still less expensive than making payments on the SUV we're surrendering.

You are certainly entitled to your opinion and I hope you enjoy your financed vehicle.

[debtmonster]

Not to have a pissing contest or anything, but I'd rather finance a reliable car than to own a car that needs constant repairs.

When you have a good paying job, making car payments are not big deal. When you have no job, then I guess it's more important to own an old car outright.

I suggest you buy a Haynes manual and have lots of tools. Been there, done that. Don't miss it. I'd rather have new, or almost new than a 10 year old junker.

[BkinTX]

I OWN my vehicle. Do you own yours?

[debtmonster]

I am not understanding the fetish with the buy here pay here places. Why can't you just go to a "regular" car dealer to get a car? Buy here pay here places are not the only ones that will finance a car for you after bankruptcy.

You need to be more positive. Give the other car dealers a chance. They will do what they can to help you. Stop thinking about buying cars with over 100,000 miles on them. Those are somebody else's problems. If the car was so wonderful, they wouldn't be selling it in the first place.

[bigtim6656]

THere is a reason if you do not have 5000 dollars your not going to buy a 5000 dollar car. THe thing you do not get alot of people do not have 5k. I know a guy who by choice is poor and does not have a job. He lookes and goes around but when it comes down to getting a job it is always something that stops it. So he does not have 5k for a car. I have a aunt and uncle both retired both on ssi. They just got out of chapter 13. They have no money no extra cash to wait 3 years to save 5k for a car. So they do what they have to. They have one buy here pay here but i think they did a 1 year plan. my truck was that way in a year i would have had a good running truck paid for. But they also have a car they paid cash for. I do not plan hitting a buy here pay. The closes thing i will get is my brother needs a car and i know of a car lot that has a finance company that does every month reporting to the credit buerues. If he gets a good job and can make the payment i will get him a car and make the payment then he can pay me. It will get him a car and get me a report to my credit every month

So you finance the $5,000 dollar car that's 3 years old and has like 30,000 miles on it... but don't buy the $5,000 dollar one that's 8 years old and has 125,000 miles on it. I see way too many people doing this and there's no reason for this now that there's a flood of like-new cars selling dirt cheap thanks to this bad economy.

[BkinTX]

Yeah, this is a second car for carting around kids. And I prefer to earn interest instead of pay it. My FIL is a mechanic. I'm not worried.

It's great that you know how you want to do things but I see no need to be critical of others' conservative choices. I think pride and the desire to have the newest and best is what got us (my own family) into this mess.

No thank you to a second helping.

$5000 over 6 months (plus interest) is nearing 1k a month. Even my bloated SUV payments weren't that high. I don't know what kind of income you have, Debtmonster, but we can't spare 1k a month for an auto payment.

[StartingOver08]

BkinTX and Keebler have very sound arguments in my opinion. New/newer cars are just consumerism.

We ended up here at the BK forum for making poor financial decisions or some large unplanned event like illness, or a combination of both. If we did not have car payments and we beef up our savings instead we can withstand the 'unexpected'. Also, if we are paying cash for a vehicle we can ultimately get a better price. Like BkinTx says: Why allow yourself to be charged truly rapacious interest when patience pays?

Having been thru this BK process - now I watch what I buy. All day long we are pushed into wanting X (whatever), for status. I say the new status is: Is it paid for?

[debtmonster]

I would only finance something if I had no other option. Why allow yourself to be charged truly rapacious interest when patience pays?

That rate is only outrageous if you allow the payments to drag on for 12 to 60 months.

If you buy the car and pay it off in a few months instead of the full term, it's not so bad.

I would much rather have sometime like a 2007 Kia <something> for $4,500 or $5,000 than buy some 1998 <something> for $1500.

I'd pay the extra money. I don't have time for breakdowns if I get a new job.

[BkinTX]

I would only finance something if I had no other option. Why allow yourself to be charged truly rapacious interest when patience pays?

[debtmonster]

I do agree with you but the issue with what you have said is it is very hard if not impossiable for some to come up with 3000to5000 to buy a car.

So you finance the $5,000 dollar car that's 3 years old and has like 30,000 miles on it... but don't buy the $5,000 dollar one that's 8 years old and has 125,000 miles on it. I see way too many people doing this and there's no reason for this now that there's a flood of like-new cars selling dirt cheap thanks to this bad economy.