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Considering buying a third car

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    Considering buying a third car

    I currently have my truck along with my wifes SUV. I drive a ton of miles for work and since I will not be able to finance for the next 5 years I am considering purchasing a everyday car to save miles on my truck.
    This would also of course save me on my gas exspenses. Will this cause any type of red flag with the trustee because I write off my miles with my tax return? Just curious if anyone else has run into problems like this.

    #2
    you are only allowed 1 car in a CH 13, unless married, in which case spouse is also allowed a car, so 2 total payments allowed in plan. Only way 3 flies is if they all three together come under the exemption amount, and you aren't planning on using the payments to decrease your expenses. Otherwise, everyone would go ahead and buy a bunch of cars to stiff unsecureds, if you know what I mean. sorry :-(
    Filed CH 13 September 17, 2007
    Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013!

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      #3
      Okay here is another car question...
      If I buy a car with cash, I mean drop about 10,000. on one will that raise red flags? I have not filed yet but will in a few months. Chapter 13 that is. Waiting for tax return. Kinda have too, due to cars we have now are old and falling apart.

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        #4
        Originally posted by sufferingAZ View Post
        Okay here is another car question...
        If I buy a car with cash, I mean drop about 10,000. on one will that raise red flags? I have not filed yet but will in a few months. Chapter 13 that is. Waiting for tax return. Kinda have too, due to cars we have now are old and falling apart.
        1 thing to be sure of is make sure it fits under your state/federal exemptions for vehicles.
        19% dividend

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