This is not gonna be pretty...

[Walnut]

Well, we got good news from the Toyota dealer - someone turned in a 2006 Sienna with 16K miles and the price is about $24K. I also found a 2002 Nissan Maxima with 27K miles fully loaded for $13,700. Probably will try and buy both and surrender the other vehicles. Today I end my membership in the 60-day club. Called Clerk of Courts and she said they run the discharges on Thursday so we should see it about that time. Is the PACER entry sufficient proof of discharge? Do I need to then contact the credit bureaus myself to get them to show the discharge or will they pick it up right away???

[BKTango]

You should be fine in just printing off your discharge from Pacer, also most financial/dealers have access to Pacer and can check your status as well. I would try to print it and see if they accept that first.

[wrinkleigh]

Walnut--

Just a comment on minivans. I have a 2002 Kia Sedona that I absolutely LOVE.

The cheap price tag was what originally attracted us to it, another manufacturer (honda, Toyota) would have been $40,000 with all the options our Kia has. Our sticker was $24,990 with ALL options except a power sliding door (that wasnt an option at the time, it is now).

The thing has 91,000 miles on it,and we have never had a problem out of it.

Now, as someone else said, a Kia is not exactly a good investment if you like to drive a new car every few years, because they have absolutely NO resale value. But it is a great investment for someone who wants a good car at a good price, and intends to drive it till it dies.

I am so impressed with Kia, after I run my minivan in the ground, I want a KIA Sorento. Man I love those things. I am hooked on Kia.

[Walnut]

Thanks for the info. We drove the Sienna and basically fell in love with it. Have not driven the 2006 used one yet. Stll waiting to discharge. The clerk of courts said it should process tomorrow. As to the Maxima, my mother is going to cosign, which should bring the interest rate down. We'll see. I figure we should get both vehicles by Saturday and then early next week surrender the discharged ones.

[Walnut]

Unreal - the dealer for the Nissan got me conditionally approved through some outfit called Triad. The condition was I had to turn in (I think they meant trade in) my 2001 Odyssey which I intend to surrender. The dealership told me just to bring it in and then said something about negative equity being my responsibilty. I said, "!!!!!! No, the debt is discharged - I don't have to pay a red cent." Then they were baffled with how to deal with the surrender or redemption. I thought I could only redeem it before discharge. Anyway, they are going to call Triad again tomorrow and get clarification. Somehow I don't like the sound of this. Was discharged today and bureaus haven't yet updated. The Honda account shows it to be open. All others are closed - most reporting correctly as IIB. 2 charge offs to deal with and a few that are wrong that need fixing. This is from equifax. Had to order the other two by mail. Argh... can this get any more frustrating. I have half a mind to say forget it and just pay as I go on the two vehicles - fix the hail damage and take my chances. Still no word from the Sienna dealer - hopefully they are better that this outfit selling the Maxima to me.

[FilingOnMyOwn]

Yeah, don't take the car to the new dealer, they have absolutely nothing todo with your old car and they might screw it all up.

[Walnut]

I applied for Cap One and was declined - do you think it's because my discharge is not showing on the bureaus yet?

[FilingOnMyOwn]

Could be, however although cap one is bk friendly, it doesn't mean they approve everyone right away even if you were discharged.

Your best option if you don't get a low apr offer from a dealer is going to be checking out local credit unions.

[chucko]

So you're looking to get into $38k in car debt essentially the day you are discharged BK? Not to mention the horrible rates, I just don't see how this is a good idea at all. Sure we all need reliable transportation, but I think it can be had for a lot less than $24k and $13k repectively. I don't know anything about your income, but getting right back into that much debt doesn't sound like a very good idea to me.

[Walnut]

Gross income is just over $100K per year - wife just went back to work on weekends to pay for the van. So, all in all it is not a bad deal only because we drive our cars essentially for 6 years or more. I know - it does sound odd, but is better to have 100K mile warranties on a Jeep Liberty and Toyota Sienna than be out of warranty on two vehicles seriously upside down and in need of very expensive repairs. We bought both vehicles used to avoid depreciation and high interest at the same time. May refi next year or else just pay extra principal. We are not going to get any credit cards any time soon - will live on cash for the foreseeable future. We got in deep not with cars but job loss, bad housing decisions, and a buttload of credit cards.

[Blue_Ray]

Walnut, did you file for a chpt 7 or 13? Just wanted to ask due to your income status. Thanks

[Walnut]

Chapter 7 in Texas. Within a month after discharge, surrendered two cars (still waiting for one to get picked up) and bought a 2006 Toyota Sienna (Capital One) and a 2004 Toyota Highlander (RoadLoans). Wife returned to work part time and income has increased. No credit cards and will not apply for any for quite some time. Still working on fixing credit reports.