We had a car we owe $13,000 on (2007) and decided to surrender it because my husband could hardly drive it and get in and out of it because he had double knee surgery the year before. The driver side air bag was also
disengaged which we felt was a safety hazard, and there is no warranty on the car. It was from a buy here, pay here place.
About a year ago, I almost lost my job going in late, etc. because 1 or both of our cars were in the shop for over a year. We had to rent a car 3 times when both of them were in the shop. We had to borrow money to pay for repairs and car rentals. This is why I'm paranoid about this and wanted a warranty to cover any major expenses.
We decided to purchase another car, a 2009, the initial cost was 16,000, not so much more than what we owed on the other one, but with the extended warranty and interest ended up being $20,000. This also gave us about 10,000 extra miles so we wouldn't have to worry about it not lasting through the plan. We assumed that because it was a newer purchase that we would have to paid outside the plan. This purchase was in Aug. but the lein wasn't put on until Sept. almost a month after we signed the papers and were driving it. Payments were already being deducted from our bank account.
We filed our Ch 13 on 1/13, our atty thinks we may have a problem because of the new purchase. We did not intend to cause a problem and fully intended to pay it outside the plan..... however, our atty said it would have to be included. So it is included in our plan and the older car is being surrendered.
Any thoughts about this, we really don't want to give up the newer car because my husband is able to get in and out of it comfortably and he is able to drive it, it has a 3 yr warranty on everything and 5 yr on powertrain or whatever, so we don't have to worry so much about repair expenses during the plan, or worry about the safety issue with the air bag.
Thanks for you thoughts!
disengaged which we felt was a safety hazard, and there is no warranty on the car. It was from a buy here, pay here place.
About a year ago, I almost lost my job going in late, etc. because 1 or both of our cars were in the shop for over a year. We had to rent a car 3 times when both of them were in the shop. We had to borrow money to pay for repairs and car rentals. This is why I'm paranoid about this and wanted a warranty to cover any major expenses.
We decided to purchase another car, a 2009, the initial cost was 16,000, not so much more than what we owed on the other one, but with the extended warranty and interest ended up being $20,000. This also gave us about 10,000 extra miles so we wouldn't have to worry about it not lasting through the plan. We assumed that because it was a newer purchase that we would have to paid outside the plan. This purchase was in Aug. but the lein wasn't put on until Sept. almost a month after we signed the papers and were driving it. Payments were already being deducted from our bank account.
We filed our Ch 13 on 1/13, our atty thinks we may have a problem because of the new purchase. We did not intend to cause a problem and fully intended to pay it outside the plan..... however, our atty said it would have to be included. So it is included in our plan and the older car is being surrendered.
Any thoughts about this, we really don't want to give up the newer car because my husband is able to get in and out of it comfortably and he is able to drive it, it has a 3 yr warranty on everything and 5 yr on powertrain or whatever, so we don't have to worry so much about repair expenses during the plan, or worry about the safety issue with the air bag.
Thanks for you thoughts!
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