Okay, here's our long, dramatic car story.
After researching online, we decided to surrender our car (we were upside down and it has serious mechanical problems) and get a replacement vehicle through 722 Redemption. We spoke to a guy from there, who gave us generic information about the replacement program, stating that we would get personalized information once we had a BK case number. He said that payments ranged from $70-$300 and were usually close to what borrowers were already paying ($140 for us).
We filed our petition last Friday, listing the car as being surrendered, and called to give our case number. We were transferred to a "national dealership" in Cincinnatti, where we were given a VERY limited selection of vehicles to choose from. The guy there told us that we were looking at $290 as the lowest possible payment because of the types of vehicles available. When I called yesterday to choose a car, we had two choices: a 2004 Dodge Stratus and a 2003 Impala. Since I am not a Chrysler fan (and the Stratus required buying a warranty since it's not rated well), we chose the Impala.
Guy calls me back, says we were approved for the car, but oops, the payment is now going to be $350 and we aren't approved for that much of a payment. So he doesn't really have anything for us, but will have more cars next week. During this time, I looked the dealership up on BBB and they had quite a few complaints. I told the guy that I was going to try to find a car somewhere else, and he was rude - I ended up hanging up on him.
I called my attorney, who said it is perfectly fine for us to try to get another car if we can find someone to give us a loan. The car we're surrendering is our only vehicle, so this is a "have to" situation. We have talked to a blue million car dealerships today, and we're hearing a lot of "You'll need to pay 10% or $1000 down," which of course is impossible since we're bankrupt! I did fill out Ford's online app, but I haven't heard anything.
So anyway, now that I've written a book, what kind of options do we have? Are we likely to find something, or are we wasting our time? We have made it clear that we are not discharged yet, and so far no one has thought it was a problem. I'm just worried that we're going to have to surrender our car before we find someone to give us a loan.
Any advice? Experience? 2x4s to the head for getting rid of our only vehicle? I'm freaking out here!
After researching online, we decided to surrender our car (we were upside down and it has serious mechanical problems) and get a replacement vehicle through 722 Redemption. We spoke to a guy from there, who gave us generic information about the replacement program, stating that we would get personalized information once we had a BK case number. He said that payments ranged from $70-$300 and were usually close to what borrowers were already paying ($140 for us).
We filed our petition last Friday, listing the car as being surrendered, and called to give our case number. We were transferred to a "national dealership" in Cincinnatti, where we were given a VERY limited selection of vehicles to choose from. The guy there told us that we were looking at $290 as the lowest possible payment because of the types of vehicles available. When I called yesterday to choose a car, we had two choices: a 2004 Dodge Stratus and a 2003 Impala. Since I am not a Chrysler fan (and the Stratus required buying a warranty since it's not rated well), we chose the Impala.
Guy calls me back, says we were approved for the car, but oops, the payment is now going to be $350 and we aren't approved for that much of a payment. So he doesn't really have anything for us, but will have more cars next week. During this time, I looked the dealership up on BBB and they had quite a few complaints. I told the guy that I was going to try to find a car somewhere else, and he was rude - I ended up hanging up on him.
I called my attorney, who said it is perfectly fine for us to try to get another car if we can find someone to give us a loan. The car we're surrendering is our only vehicle, so this is a "have to" situation. We have talked to a blue million car dealerships today, and we're hearing a lot of "You'll need to pay 10% or $1000 down," which of course is impossible since we're bankrupt! I did fill out Ford's online app, but I haven't heard anything.
So anyway, now that I've written a book, what kind of options do we have? Are we likely to find something, or are we wasting our time? We have made it clear that we are not discharged yet, and so far no one has thought it was a problem. I'm just worried that we're going to have to surrender our car before we find someone to give us a loan.
Any advice? Experience? 2x4s to the head for getting rid of our only vehicle? I'm freaking out here!
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