Second car

[tknj99]

Hi all,
I will probably file in 12 or so months for both me and wife. We only have 1 car as I sold my second car to help keep current on inv prop mortgage when renters stopped paying last year. Its a 2001 Ford Windstar that isnt worth much.
I live in FL and know that the exemption is 1k per filer.
I was wondering if it would be ok to try to get a second car. One where I put no more than 1k down.

Thx..

[SubPrimeME]

Hi all,
I will probably file in 12 or so months for both me and wife. We only have 1 car as I sold my second car to help keep current on inv prop mortgage when renters stopped paying last year. Its a 2001 Ford Windstar that isnt worth much.
I live in FL and know that the exemption is 1k per filer.
I was wondering if it would be ok to try to get a second car. One where I put no more than 1k down.

Thx..

Yup, go get the car!

[tknj99]

thx for the reply..
So when searching for a second car, im thinking that a purchase is better than lease where i finance with up to 1k down.
But now am wondering if i can get a new car or should it be several years used?
I know that as far as car type stay away from anything that would be considered a luxury car, ie benz, bmw, etc.
But what would be a non-red flag setting limit amount for purchase and monthly payments? 10k, 15k, 20k+?
Also, if i chose not to reaffirm the car, im assuming that i could just let it go when filing?

thx...