Financing for replacement vehicle?

[newbie2]

We are 16 months into our plan, and my husbands vehicle has blown it's head gasket. To repair this is approximately $5000. Naturally, we don't have that kind of extra money.

I know we would have to have trustee approval to incur new debt and I don't see that as being prohibitive. What scares me is a: Not finding someone who would finance, and b: The horrid interest rate I'm sure we'd be charged.

Has anyone here had any success with this type of thing and could point us in the right direction?

[cso5@]

Me too!

My own car's been limpinig along. Oil light comes on with alarming regularity -- it's got 167K miles.

So I checked it out with the attorney -- you first go find financing. So I applied online -- after googling bankruptcy 13 auto loans. One place seemed sketchy -- they did approve a loan, but you have to go to a website and pick out a car, and then they deliver it to you.

Some other place "drive" -- approved me for 21.75%. Wow. I am just over a year into my 13.

Now I go find a car to buy, with the downpayment stipulation of $1200, and a limit of $400 payment.

Then, the lawyer writes up a motion to incur non-emergency debt. I need to tell him all the details -- what car, what purchase price, what interest rate, what loan length. He says most always they are ok with incurring the new debt -- I am forever thankful I have a great lawyer and a great trustee.

I am hoping to look this weekend -- I don't want to -- but my commute is nearly 100 miles a day, round trip, and I can't not have a reliable car.

Then I would hope to refinance or pay down or something.

Hope this helps.

[CATCHMEIFYOUCAN]

Have you checked out Capital One, they seem pretty easy going as far as getting a car loan. I applied with them over the internet just to see if I could and how much I could get. They sent me forms and were going to loan me up to 19,000 at 12 1/2%. But since I had a car for less with another finance company, I didn't budge. I got this tip off this forum too that Capital One was an easy target to hit up for a car loan.

Best of Luck, CMIYC

[newbie2]

Thanks cs and cmifyc. I appreciate the input from both of you. It sounds like Tuesday we'll have to get on the ball and start making the phone calls. *cs, I hope your car holds out until you have the new one in your driveway.

[emoney]

Your repair price of $5000 seems too high. You can purchase a used engine from a junk yard and have it installed for less than $2000.
Get another price a local repair shop. You are probabley at at a dealership that is why the price is $5000.
regards,
emoney