car buying before filing

[Jacinta]

Ok. I'm at dealer. I have not filed bk yet. I'm thinking of filing in mid June. I can buy a new car now while my cedit is good and not reaffirm the old upside down car. Can I do this?

[Brighterdays]

If the loan goes through, then yes you can do it. Will the bank reaffirm? now that is the million dollar question. I have heard ford is tough and credit unions that you have current debt with, that you are planning to bk, will call it "cross collateralization(sp?)" and not reaffirm(ymmv). They, in most cases, will not do it. I am not sure with gm or others.

So if you can get approved,preferably with no money down, as that might cause a problem down the road, you then need to find out if that lender will reaffirm. I would start a thread or do some searches about " What banks will reaffirm you car(that you have no dealings with now). Good luck and let us know.

I don't consider this fraud(It may just be me) but since your going to keep it and pay it, then its legit. Now if you were going out and gettigna vette or a porsche and then turning it in, that would be fruad.

Ps. Please try to buy american All of our jobs may depend on it!!

[chad9162]

Ps. Please try to buy american All of our jobs may depend on it!!

That's so far from the truth. The automotive industry is not the reason for recession. Its the banks and credit. If the BIG 3 were the reason for our economic woes we'd have been in trouble a long time ago (they've sucked for a long time). Foreign automakers invest in America just as much as the American ones. If you want to support your local mechanic then buy a American!

Personally I think we should let some them fail. That's free market. I don;t understand GMC. If you make a crappy car, it doesn't matter if you call it a Chevrolet, Pontiac, Oldsmobile, etc. its still the same car!

I think its funny when people preach "Buy American" save jobs. Well if I only bought American I wouldn't have much since most things are made in China, Taiwan, etc. Its funny, we Americans are greedy. We want consumers goods at rock bottom prices. If the items were made in America they wouldn't be cheap!

For the record I own a Toyota and a Saturn. I've owned another Saturn, 2 Hondas, and an Oldsmobile.

[Jacinta]

Didne mean to start a war. It was hyundai I am looking at. Like the warranty.

[willbfree]

The trustee paperwork I received this week asked specifically if "Have you purchased a car in the last six months?". So be prepared to answer this question yes when you get the paperwork. Obviously this is something a trustee is looking for in his questioning.

[Jacinta]

Thanks. I'm going to call my atty tomorrow. It doesn't make sense to me that I would be allowed to buy new and disolve he debt of the old one. But it would be nice tohave a nicer car for a lower payment since my other one is so upside down.

[Brighterdays]

That's so far from the truth. The automotive industry is not the reason for recession. Its the banks and credit. If the BIG 3 were the reason for our economic woes we'd have been in trouble a long time ago (they've sucked for a long time). Foreign automakers invest in America just as much as the American ones. If you want to support your local mechanic then buy a American!

Personally I think we should let some them fail. That's free market. I don;t understand GMC. If you make a crappy car, it doesn't matter if you call it a Chevrolet, Pontiac, Oldsmobile, etc. its still the same car!

I think its funny when people preach "Buy American" save jobs. Well if I only bought American I wouldn't have much since most things are made in China, Taiwan, etc. Its funny, we Americans are greedy. We want consumers goods at rock bottom prices. If the items were made in America they wouldn't be cheap!

For the record I own a Toyota and a Saturn. I've owned another Saturn, 2 Hondas, and an Oldsmobile.

Hey Chad, I had to reread my post to see were I stated this caused our economic delima. Nope, nowhere did I see that. So chill out dude.

[chad9162]

Hey Chad, I had to reread my post to see were I stated this caused our economic delima. Nope, nowhere did I see that. So chill out dude.

Its not I who needs to chill out.....You said...

Ps. Please try to buy american All of our jobs may depend on it!!

It clearly states that not buying American is going to cause job losses. Most people would relate jobless, with bad economy. You made the statement and should stand by it, even though you look like a tard! Telling me to chill out is your intelligent come back DUDE, plz.

**I just had an epiphany...you're right we all need to buy American (American is capitalized by the way) and save all our jobs.

[lolasaurus]

Its not I who needs to chill out.....You said...



So buying American is going to save our jobs.....REALLY. Sounds like Republican propaganda! How about you chill out DUDE!

lol, the unions tend to contribute most to the Democrats...

I am a libertarian, so just saying

[chad9162]

lol, the unions tend to contribute most to the Democrats...

I am a libertarian, so just saying

Well what's really ironic is how many blue collar folks vote republican yet most republican politicians do nothing for them! Instead they help big business and preach "trickle down economics." I have to admit that republican Trickle Down Economic has worked well these last 8 years!

[Jacinta]

Alright kids. Wrong forum. BK is stressful enough. Good night all.

[Brighterdays]

Alright kids. Wrong forum. BK is stressful enough. Good night all.

I totally agree!! and I am sorry if I upset any of the lefties. throw em all out and lets start over

[chad9162]

I totally agree!! and I am sorry if I upset any of the lefties. throw em all out and lets start over

As long as we get rid of the religious right I'm all for starting over!

[Brighterdays]

Jacinta, I did a google search(it was rough) and found a few instances where Hyundai had done reaffirmations. Apparently ford and Chrysler are almost impossible. You can definately try it as what is the worst that can happen? You have to give the car back? It isn't against the law, so you face no criminal prosecution. It is better than the alternatives of .
1.) having no car.
2.) going through 722 redemtion(20 some rate)
3.) or doing the buy here pay here

I would not put any money down if possible, but if it were me and I was in your position, I would do it. Yes chad, even if it wasn't an american car.

AFter thought: wouldn't it be cool if people's liscense plate #'s were their cell phone. Now that would be cool.

[chad9162]

I would do it. Yes chad, even if it wasn't an american car.

I highly doubt you'd be at a Hyundai dealership since you'd be supporting non-Americans and making us lose all our jobs!

As for getting a new car, I doubt anyone in this economy is going to repo your car just because you filed BK. Have you looked at the dealerships lately...no ones there. I also read on this forum that Ford is no longer repo'ing cars just because you filed BK.