Might need to buy a car?

[colleenbean]

So i just presented all my info to my attorney and sure enough my car is acting up(its 10 years old)-should I try and buy a car before my credit is totally ruined with the bk filing? Any advice?
My atty did say I need more expenses after I file, because I would have to much money left over a month after the bk goes through?
what do you think?

[WantToBeDebtFre]

If you can afford to finance a car and it fits in your budget I'd say do it. Especially if your attorney is advising that you need more expenses to file a Chap 7. I just refinanced my house because I know I'll be filing soon and I didn't want to be stuck in a variable interest rate.

[Dirk Squarejaw]

I just traded my car off. In my case, my last car was only 2yo, but I went ahead and traded it on a leftover '07 with rebates, etc. I also got the extended warranty which I usually don't do, but this allows me to have the car for the next 5-6yrs and all mechanical issues will be covered. That way I don't have to worry about unexpected expenses and just figure in my maintnance items like oil, brakes, tires, etc. My monthly installment went up a little, but my insurance came down because I guess this car is rated very well and my monthly insurance premium came down $16/mo.

I just see it as a way of having a reliable car to take me through bankruptcy and maybe beyond and the warranty helps to eliminate the element of surprise.

[tiredofdebt1]

What is a leftover
07???? Did you do this before or after you filed?

[Dirk Squarejaw]

What is a leftover
07???? Did you do this before or after you filed?

Its the '08 model year now. It was an '07 thats been sitting on the lot since who knows when. I was able to take rebates of $1500 and 5.9% financing. I have not filed yet, but wanted to be prepared incase I get stuck with a 13. In that case, during the 5yr plan I don't have to worry about unexpected expenses tied to the car with the extended warranty. All I need to worry about and figure into my calcuations is regular maintnance.

[keepmine]

If you need reliable transportation, get that taken care of before you file.

[colleenbean]

i just don't want to look like it's fraud. I am not including in the filing. But will the creditors come after it?

[Boscoe]

no, buying a new car to replace a 10 year old failing car is definitely not fraud, just as long as it is not a $50k beamer or Range Rover.

And you need to include ALL expenses on your schedule J. I bet you are forgetting some...cleaning supplies, make up, things for the bathroom, manicures, hair salons, gifts to friends and family (reasonable stuff, b-days, xmas), news and mag subscriptions, laundry detergent, remember, think of everything.

[colleenbean]

Boscoe-I wish I would be getting a beamer or a benz! Probably going to go with a toyota camry or another accord-they seem to last forever and you get a lot for your money.