Car advice

[inpain66]

I have a 2005 MINI Cooper. I love this car. It has 48k on it and I still owe 16k at 5% interest. The car is worth 18k. It is financed with a credit union but my lawyer thinks they will let me reaffirm it. I called the 722 company and they said that since I am not upside down on the loan they would not be able to give me lower payments.

I would love to keep the car but should I sign the reaffirmation? Would the credit union let me keep it if I do not reaffirm it?

Should I keep it? Is my love for the car blinding my common sense?

[keepmine]

Well, ya gotta drive something. I'm no fan of reaffirmations but, if you can comfortably handle the payment I'd say keep it. You have a great interest rate and likely have some warranty left. Try for a ride through before you sign a reaffirmation.

[deadbroke99]

I loveeee Mini Coopers. I wish I had one but it would not work for a family of four! I guess I will keep my Camry

[SubPrimeME]

I loveeee Mini Coopers. I wish I had one but it would not work for a family of four! I guess I will keep my Camry

Hey- Camry's are great!

[inpain66]

Well, ya gotta drive something. I'm no fan of reaffirmations but, if you can comfortably handle the payment I'd say keep it. You have a great interest rate and likely have some warranty left. Try for a ride through before you sign a reaffirmation.

The warranty just expired and I could not pay to extend it. I wonder if they would let me keep it without the reaffirmation...

[dealdas]

AFAIK, the debt has to be listed and it will have to be reaffirmed if you want to keep the car and make payments.

Or, you could let them take it away and buy a used car for a lower value - theres a lot of 'good' deals around nowadays.

Best

[inpain66]

AFAIK, the debt has to be listed and it will have to be reaffirmed if you want to keep the car and make payments.

Or, you could let them take it away and buy a used car for a lower value - theres a lot of 'good' deals around nowadays.

Best

I would love to buy a new car but you are talking to someone who brings home less than 2k a month and my rent plus student loans and parking fees for work equals most of my take home. It would take me months and months to save for a used car and by then I would be fired since I would have no car to get to work.


I am filing a chapter 7 so that I can eat and get to work. That is how bad it is for me.

take home =1900

rent plus utilities =950

student loan=300

parking fees for work= 100.00

food =200.00

my car payment now is 280. I need a car.