Need to buy car

[cb2boys]

I was wondering what advice I could find out there...we are in dire need of a 2nd vehicle....but, we haven't even had our 341 mtg yet, that is coming up mid December. Does anybody even think we'll get approved? Or can I even try since we in the middle of bankruptcy?

Thanks!

[AAAArt]

I'm in the same time frame as you. Waiting for my 341. Today I received an advertisement from a car co. offering to finance me for a 2001 - 2004 car. I know that there are places out there which will "approve" you, but I'm not sure if you really want to be approved by them. Interest rates are exorbitant and prices on the cars are often high. You will be upside-down on this vehicle for prob. 3 years. It seems that no one wants to approve you for a cheap car, just the more expensive ones with more mark-up.
Secondly, if you buy another car now, you will have to amend your expenses to show the new car payt. and increased ins. Trustee may wonder where the money is coming from.
What are you doing with your current vehicle? Is it an option for a 722 redemption? Would that lower the payts. to help pay for the other car?
Difficult situation. Best wishes, Art

[Minnymouth]

BEWARE.........

During the bankruptcy process you cannot buy or sell anything......
Contacting the trustee probably won't make a difference as he'll probably tell you the same thing.

Best thing you can do is hold on till afte discharge...... then places will finance you on another vehicle with a higher interest rate to start.

Minny