Pre-13 Auto Purchase - How to approach it?

[krautrocket]

Can you purchase another extended warranty for your current car? I have a family member who bought a very old van with a ton of miles, got an extended warranty (top of the line) and they haven't had to pay anything for the many repairs it needed.

Or extend your current warranty. Sometimes they will do that.

Good suggestion. Will look into that. They won't extend the factory CPO warranty, but maybe there are some reputable third party options.

[catleg]

Remember you don't want to roll over negative equity into a new loan, because you're stuck with it through bankruptcy.

You're better off keeping the old, underwater car, buying a second newer car on financing, and then surrender the underwater car in bankruptcy.

[SMinGA]

Good in theory, but it becomes a question of whether or not one can get financing for an additional auto payment.

Remember you don't want to roll over negative equity into a new loan, because you're stuck with it through bankruptcy.

You're better off keeping the old, underwater car, buying a second newer car on financing, and then surrender the underwater car in bankruptcy.

[catleg]

Just saying "do this if you can".

It's like buy and bail in the housing market.