Do you think I should go buy a new car?

[optimistic1]

Ok, here is the gist.

I own a car with about 52k miles on it. Bought it brand new, its under factory warranty until it reaches 60K miles. It also has an extended warranty on it to 100k miles on it, and it has a powertrain warranty to 100k as well. Never had any problems with it, and always kept up the maintenance. I put about 12k miles on it per year, and I plan having a 3 year Ch. 13 plan, and I plan on cramming down this loan.

So common sense tells me to just go for it, cram it down, keep it, and carry on with the Ch.13.

But, then, nervousness kicks in, and the what if's start going through my brain.

So I call the dealership and they say, no problem, your credit is ok, lets get you in something brand new.

So what do you guys think?

Obviously, my budget will suffer from getting the brand new car.

But, I will feel more secure.

I feel nervous about something happening to my car while in a 13, and then trying to get a loan for a junky used car at a whopping 24% interest rate.

[StartingOver08]

Well, you certainly don't drive much so the wear and tear on your car is minimal. Also you have the warranty to 100k. If you keep up with your same schedule of driving (12k/yr) then you will only put on 36k miles over the next 3 yrs which puts you well below 100k. (For perspective, I put on 30k to 35k miles per year on my car LOL! )

To me it seems to be more advantageous to you over the long run to NOT buy a new car. Keep this one, cram it down to the new value so at the end of your CH 13 you are paid off - you own it and can get good financing on something should you need it AFTER the discharge. JMO.

[optimistic1]

Thanks, thats what I am thinking, I doubt that if it broke down that it wouldnt be covered, the extended warranty is one that was offered from the manufacturer, so it has to be good. I am not going to the dealership tommorow.

[sassiebaz]

No

[Flamingo]

A salesman will tell you anything for a sale. As the other posters stated, under the circumstances you describe, it is in your best interests to cram the car.

[AngelinaCatHub]

[optimistic1]

Agreed, thanks everyone for beating some sense into me, I feel much better now.