Purchase Another Vehicle?

[OverExtended05]

Ok, we are giving back the 2003 van but it is just not going to work out with only one vehicle.

What should we do?

Keep the van? We owe $17,000, KBB says $16,000 Payments monthly are killing us, $400, not to mention the insurance.

Or should we try to get financing for a $5000 car to make it through these next few years of BK/getting our finances in order.

Should we get it now while we still can get a decent intrest or wait?

We file Friday.

[herekitty]

I wouldn't recommend doing it now - it might look fishy, plus I'm pretty sure you can only keep one car. Would it be possible to live on one car for 6 months and save up the payment to purchase another one, cash - straight out?

[OverExtended05]

I mean, we could if we had to but it would incur excessive driving and multiple trips.

DH would go to work with FIL and then after work FIL would drive DH to my work, he would pick up the car, drive to get the kids from daycare/school, go home for an hour, load them back up, drive to pick me up from work since there is noone to carpool with and then drive home.

I am going back to college in January and after I get picked up from work, I would have to drive to school, 30 minutes away and back.

Not to mention if our daughter has after 5 sports practice/games...


Should this be something we just deal with or should we pursue anything? If we were to get a car loan, we would reaffirm it.

Should I just suck it up and buy something with cash next year?