How long did everyone go after buying a car

[helpsoneeded]

Did anyone here buy a car and then file approx. 6 months later. We want to trade our car in for a newer and more reliable one. We would increase our payments from 160 to 300.00. We havent spoken to an attorney yet, just pretty sure we will file a 13 in the next 6 months. Thank you again!!!!!

[MOMof3]

Our lawyer told us we could buy & finance a vehicle up until the day we filed. As long as the payments were reasonable & car was necessary. She just wanted all the paperwork before she submitted our filing. Unfortunately we couldn't find anyone to finance us, so we bought a used car w/cash instead.

[colleenbean]

I bought a 2008 camry(cause I needed a reliable car)in October, I filed for bk in December. Just had 341 meeting-wasn't even mentioned.

[helpless]

If you can buy a car then do it. We didn't and boy I wish that my lawyer would have advised us to because it has been along almost 3 years with a 1999 and 2000 car and all the repairs that come along with an older car.

[253BK]

yeah I would get out and buy one before all the negitives report on your credit! Hopefully get somewhat of a good rate and make sure to get low miles or new!

[Flamingo]

Did anyone here buy a car and then file approx. 6 months later. We want to trade our car in for a newer and more reliable one. We would increase our payments from 160 to 300.00. We havent spoken to an attorney yet, just pretty sure we will file a 13 in the next 6 months. Thank you again!!!!!

If you are able to get a reliable vehicle prior to your filing, do so. Remember, you will be in Chapter 13 for at least 3 to 5 years; your vehicle(s) will need to get through that time period also and one of the bad things that can occuring during your Plan years is to have a major car repair that can cost hundreds or thousands. If you have a house, now would be a good time to look into getting any repair jobs done because if your roof or something else blows during your Plan, it's the same scenario. Would you be able to replace that water heater at a big repair cost smack dab in the middle of your Plan? Happened to us at the same time of a major car breakdown - 3 1/2 years into a 5 year plan. Our attorney was able to get Trustee permission for us to skip that payment and since we were in the throws of looking to buy out at that time, that skipped with permission payment was just included in our payoff amount at settlement when we refinanced. Others would not have that opportunity. Plan now and plan ahead to save funds during your Plan as much as possible to cover repairs and vehicles (think new tires also).

[EveryDayAdam]

I agree with everyone. A vehicle is a necessity in today's life, especially if you need it to get to work. A higher vehicle payment means more of a "living expenses" deduction on your means test, and means less of a payment...so in the end, it's a wash as to what you will pay.

[helpsoneeded]

thanks everyone

I did , we bought a 08 vehicle. We financed more then we wanted to, but we did it. Our payments are 360.00 a month and the total price we financed was 20,000. We had a trade that we lost alittle on and we financed everything, no money down. Hope it wont cause any problems, but at least we safe for the next 5 years with haveing a reliable car and a 5 year warrenty. Thanks alot for all your posts...

[krielly]

If you are able to get a reliable vehicle prior to your filing, do so. Remember, you will be in Chapter 13 for at least 3 to 5 years; your vehicle(s) will need to get through that time period also and one of the bad things that can occuring during your Plan years is to have a major car repair that can cost hundreds or thousands. If you have a house, now would be a good time to look into getting any repair jobs done because if your roof or something else blows during your Plan, it's the same scenario. Would you be able to replace that water heater at a big repair cost smack dab in the middle of your Plan? Happened to us at the same time of a major car breakdown - 3 1/2 years into a 5 year plan. Our attorney was able to get Trustee permission for us to skip that payment and since we were in the throws of looking to buy out at that time, that skipped with permission payment was just included in our payoff amount at settlement when we refinanced. Others would not have that opportunity. Plan now and plan ahead to save funds during your Plan as much as possible to cover repairs and vehicles (think new tires also).

I couldnt' agree more.....plan plan plan!!!
Sometimes you can include these types of anticipated expenses in your plan. We knew we would need a new roof, for example during our plan. We were able to figure a rough estimate of what it would cost us, and divide it by the length of our plan to figure how much to include as an expense in our budget.
Just got the new roof put on last spring. Felt good to do it with CASH!!!!!! YEAH!!!!!!!!!!!!!!

[SANRA308]

we bought new car filled 3 months later no problems or questions asked