Don't know what to do! Please help!

[matchu]

Hi all. I was discharged Chapter 7 in February 2009. I reaffirmed my 2002 Honda Accord at the time. I have 14 months left in payments at an 11% interest rate. I am thinking of buying a new car. The trade-in value of my car is $1000 dollars less than what I owe on it. My question is:

-If I got the Capital One blank check, when trading in my old car would I be able to include the balance on the new purchase with the blank check?

-Or should I just try to go through Honda Financial and roll the balance over? Do you think Honda Financial will approve me for another loan? I have never been late in my almost 4 years paying them, even throughout my bankruptcy.

Thanks!

[jdcat]

We used Capital One Blank Check back in 2004 for a new car and rolled what we owed on our Yukon into it. I don't know if things have changed since then.

I do remember that we were allowed to spend up to a certain amount on a new car and what we owed on our Yukon after the trade in amount was applied plus the cost of the new car fell within that limit.

We had a huge car payment! That is part (one part) of what did us in financially. So be careful.