2 cars in CH7

[keepmine]

Didn't mention the Jeep as it is of no consequence to my OP. He is filing alone. I own the Jeep, he owns the Focus and Envoy. I was just pondering the wisdom of keeping up with the payments on the Focus as it does "help" with the disposable income situation. Just wanting to help him do the smartest and most beneficial Bk he can. I really appreciate everyone's input! Thanks~

Since he's filing alone, what does your state exemptions say regarding keeping 2 vechicles?

[GreenInkOnPaper]

Good question! From what I've been able to glean online, looks like 2 is OK. Of course I'll check with an attorney.

[debtmonster]

The Envoy is a much more practical vehicle than a small Focus. You can carry stuff in it. It's great for travel. I know because we have a mid-sized SUV and a small sedan. When we travel, the sedan is too small to carry stuff.

For the money you'd be saving in payments on the Focus after a Ch. 7, you could take that money and put it away for repairs on the Envoy (sort of like self-insurance or creating your own extended warranty.)

Repairs are always cheaper than car payments. I would take good care of that Envoy. Keep it waxed and super clean that way you won't want to get rid of it. My sister has an old Kia that has been garage kept since she bought it. It looks almost showroom brand new because of this. Now she doesn't feel bad for keeping it since she took such good care of it. She recently had the transmission flushed. She changed the fluid in the rear differential (all stuff you should be NOT neglecting on your Envoy.) ALL fluids should be changed. If you don't do this, you'll be looking at transmission repairs of $1500-2000+. Don't let timing belts go too long. Yes, it's very expensive, but the cost of doing a timing belt replacement will dwarf the cost of replacing the engine or doing putting new cylinder heads. It will cause a dominoe effect of problems if you neglect a vehicle.

That's the thing about used cars.. you MUST take good care of them if you don't want to be stuck. That serpentine belt should have never broke in the first place. The car should have been inspected regularly and it should have been caught by seeing a frayed belt. A new A/C compressor is about $150-400. You can check on Parts America

Anyway, don't let what happened to the Focus happen to the Envoy... do everything to the vehicle...

Change the engine oil and use synthetic. Conventional oil is cheap, but it causes sludge build up. Plus with good synthetics, such as Amsoil, you can get away with doing a one-year oil change. That will save you a lot of money right there.
Always change the transmission fluid regular (yes, I know it's expensive, but it has to be done. You can't ignore this, even though most people do.)
Get the fluid changed in the rear differential. The size of the area where the ring and pinion gears make contact is about the size of your thumb. You have all of that weight sitting on those gears. You need to get that fluid changed. An entire rear axle could cost a good $2,000. It's cheaper to just maintain the fluid.

Also make sure the anti-freeze is changed at the proper intervals. The GM fluid is good for 150,000 miles. You should change it when it gets near that. Prestone is good for maybe 30,000 miles. Amsoil is about $20 a bottle but lasts up to 7 years or 250,000 miles. That's the best bang for the buck.

The only stuff you really can't control is the water pump, power steering, brakes, shocks, A/C. Lots of other stuff can be avoided. I go under my hood regularly and inspect the vehicle so that there's no surprises. Since I am broke like everyone else and live paycheck to paycheck, I cannot afford a surprise break down, so I am the biggest believer in preventative maintenance. Since I can't afford a problem I simply avoid it in the first place by paying extra money up front.

I know this is not a car forum, but a lot of people are trying to stretch their dollar for as far as it will go. Your vehicle = FREEDOM. Without it, you're stuck... unless you live in Chicago or NYC and have great public transportation. The rest of us don't always have that luxury.

[GreenInkOnPaper]

"That's the thing about used cars.. you MUST take good care of them if you don't want to be stuck. That serpentine belt should have never broke in the first place. "

Not everything that breaks/goes bad/needs replacing on a car is due to neglect. On a Focus, the serpentine belt weaves around the alternator - compressor - water pump. The compressor froze up and snapped the serpentine belt. Just one of those unique Focus features, I suppose.

I have to defend the Focus on cargo room - his is a stationwagon, and it'll haul just about as much as the Envoy. I actually had to leave Home Depot in the Envoy and come back with the Focus to bring home a couple of sheets of sheetrock.

I do appreciate your input! Good advice for all of us. Thanks~

[GreenInkOnPaper]

By the way - finally found the definitive answer for Oklalhoma: $7,200 exemption on a car. Whew!