Buying a car, during and after BK

[spitfiresherry]

Has anyone tried to make a purchase of a vehicle in Maryland or Virginia with a Trustee Letter? Have you found that you are limmited to your choices?
Have you been turned down because of your filing? I was turned down, and then made to wait over 60 daysbeing told that a bank named " K " Bank was the only bank that would finance with a trustee letter. I was told I needed a co-signer, then I would not need K bank, I am not sure I understand this...What difference would a co-signer make? This freally nice lady tried to explain to me that by myself I needed the trustee letter andK bank was who there dealershipped used...I got the loan and the approval and had to wait for K Bank to approve everything, it took from August to October, before K bank sent any reply, and then they needed more information...Once I was approved I got the loan on a SUV but not enough to get the vehicle I wanted with Leather seats and or a sunroof...I was approved with a max of 500.00 payment, my sales lady said that put a cap on the EXTRA OPTIONS I could afford...So I just said forget it...I did love the little Mountianeer, and the Ford explorer the were both 2004 with low miles...she said it would be better to have anewer vehicle with lower miles than a older vehicle with leather seats...but I want the seats and sunroof...we are at a stand off as the bank wants me to have the newer vehicle as well...What do you think?
My sales lady is a older woman about 50 she seems sincere in helping me, she said I was only approved for a car, I wanted a SUV, and she got all the number where I wanted them but not the right options...the lady was great the car was great, I am in a Cougar with 124,000 miles...Should I give in on the vehicle and get the Mountaineer, it is still available on the web site I looked it up, and it is beautiful, except the no leather no sunroom, or should I wait to get what I want?
Help me...My mom said my wants is what got me into this BK in the first place...what do you guys think...
Please help
Spitfiresherry

[tinroofrusted]

Has anyone tried to make a purchase of a vehicle in Maryland or Virginia with a Trustee Letter? Have you found that you are limmited to your choices?
Have you been turned down because of your filing? I was turned down, and then made to wait over 60 daysbeing told that a bank named " K " Bank was the only bank that would finance with a trustee letter. I was told I needed a co-signer, then I would not need K bank, I am not sure I understand this...What difference would a co-signer make? This freally nice lady tried to explain to me that by myself I needed the trustee letter andK bank was who there dealershipped used...I got the loan and the approval and had to wait for K Bank to approve everything, it took from August to October, before K bank sent any reply, and then they needed more information...Once I was approved I got the loan on a SUV but not enough to get the vehicle I wanted with Leather seats and or a sunroof...I was approved with a max of 500.00 payment, my sales lady said that put a cap on the EXTRA OPTIONS I could afford...So I just said forget it...I did love the little Mountianeer, and the Ford explorer the were both 2004 with low miles...she said it would be better to have anewer vehicle with lower miles than a older vehicle with leather seats...but I want the seats and sunroof...we are at a stand off as the bank wants me to have the newer vehicle as well...What do you think?
My sales lady is a older woman about 50 she seems sincere in helping me, she said I was only approved for a car, I wanted a SUV, and she got all the number where I wanted them but not the right options...the lady was great the car was great, I am in a Cougar with 124,000 miles...Should I give in on the vehicle and get the Mountaineer, it is still available on the web site I looked it up, and it is beautiful, except the no leather no sunroom, or should I wait to get what I want?
Help me...My mom said my wants is what got me into this BK in the first place...what do you guys think...
Please help
Spitfiresherry

My advice?

If you are so worried about little luxuries, I am concerned that you are headed back on the same path that you came from.

Leather seats are not that important. What is important is that you can make the car payment every month and afford the insurance on it, without it hurting you financially.

Take the better car with less miles on it.

[StaciMM]

I'm assuming you are in a 13, so yes-permission from the trustee is required to finance. Beyond that, I would think the dealership that you're working with would know which lenders are most likely to work with each credit type, so its probably just that "K Bank" is the only contact they have. You could try going to a different dealership, or consider other vehicles.

I don't want to judge-it is your choice what type of vehicle you want and what options are worthwhile to you. Personally, I feel that a vehicle is transportation-and I choose not to pay more for it than I have to.

[AAAArt]

Sorry, but I have to side with your mother here. We have 2 cars (Saturns) which we bouught new and our combined payments are $530.
I suggest you look at the finacing details and shop other dealers to get the best financing possible. The lower the interest you're paying will improve your credit scores and attract other lenders who offer lower rates, otherwise all that you will attract will be other high interest credit cards and lenders.
Shop the financing FIRST, then get something inexpensive and live with it for at least 3 years, then you can go more for your "dream car". At this point in time, please don't let yourself be guided by the "I want" or the "I gotta have or I'll die" urges. That is the 2-6 yr old thinking which got most of us here.
Try consider saving as being kewl and get your joy from that. Best wishes.

[HRx]

I'm closing this poll/thread ........please post your questions/concerns within the following link. http://bankruptcyforum.com/showthrea...=1843&page=3ad posting your comment where i suggested will keep forum data more organized.......