Tough situation

[JonathanP]

Im using the insurance money I am getting from a wreck that totaled my car to
pay off my bankruptcy early.My thought was Im only getting about $8,000 for the car,Ill have to pay the auto finance $1700 for the rest of the lein.My bankruptcy will then only be $2300.I was going to pay that off and use the remainder as a down payment for a new car rather than buy an undependable car with the other $4,000.
Now I find out that it can take months to get discharge papers which will enable me to get a new car loan.The insurance company will only pay for my rental car a few more days.
Is there anyway around this or do I have to buy a piece of crap car?

Thanks for reading!

[JonathanP]

bump

[shark66]

You will have quite a tough time obtaining financing with post-BK credit score, and the rates are likely to be high - expect 20% or more AFAIK.

I don't know your driving needs/habits, but a $4,000 could buy you a decent set of wheels to last you a few years with proper maintenance.

Good luck.

[JonathanP]

Well thanks for the replies
I think I am going to take a different approach.
My wifes car is crappy but reliable.Im going to drive that and use the full insurance payoff to buy her a late model VW Bug.Ill keep paying out the BK case until October per the plan and think about getting myself something then when my paychecks are not being taken .I will enjoy having big checks and no car note for a while .