Type of vehicles approved for finance during a Chapter 13

[neko1]

I am in the process of getting approval from my Trustee for a auto loan. My current car is ready to be replaced and I just want to know what other have been approved of.

I just dont want to be approved for a car thats in the same age or shape of my current car. My current car is getting to the point where the repairs are becoming too expensive. Because if its not worth it to get approved for a car I may just have to pay for the repairs and keep my current car.

I just want to know what vehicles others have gotten approval.

Is there any guidelines? For example has to be a Honda and not Acura? Im clueless and my lawyer is no help.

Thanks!!

[Nicollette]

I surrendered an 03 grand am gt, and got approved for an 06 hyundai sonata.

[newbie2]

Brand of car has nothing to do with it. The trustee will want to see a manageable payment with a not-so-ridiculous interest rate. Your attorney should know what would fall in to a good range for those 2 items. Ask your attorney again, but this time ask what the trustee will want to see regarding payment amount and interest rate.

[Flamingo]

Newbie2 is correct - you cannot pick and choose in a situation such as this as to brand of car - it's what they tell you monetarily wise you can afford and you start with the dollar amount, not brand.

[karm43]

what does it mean when you say early buy out?