how soon before filing can I buy a car

[doingpoorly]

I am returning a loan car and a lease car and I will have nothing to drive if I don't do something soon. I can't buy something outright because florida only allows $1000 equity in a vehicle. I have a plan to get a loan at 4% interest for 2 years on a used car. Great deal . Anyway, how far away from filing is it best to get a new car loan. Are there a certain number of payments I should make on it before filing. Dont' get me wrong I intend to reaffirm the loan, but don't want the whole thing to look bad. I plan to file Aug 1st is it to late to get a new loan?
thanks

[TEW]

You can get a loan for the car make sure the loan is perfected before you file. and Don't reaffirm the loan.
If the loan is not perfected the trustee can take the car.

[Justpoor]

What does perfected mean?

[liz417]

I was told to get a new car before I filed and make a couple of payments...

Good Luck!

[StartingOver08]

Perfected loan = lien is properly placed on the property.

Official definition here:
security interest in collateral securing a debt protected from claims by third parties. To properly file a lien and take a security interest in property owned by the borrower, a lender must file the lien with the appropriate legal authority. Perfection of a lien on real estate is accomplished by recording the mortgage deed of trust in public land records of a municipality, such as a town clerk's office.
Perfecting a lien on stocks, bonds, or other assets owned by the borrower (known as personal property, as opposed to real property, or real estate) occurs when the lender files a financing statement listing the type of collateral securing the loan, and its location, in a designated filing place, generally the office of the Secretary of the State or a county recorder's office.
The lender's financing statement gives the lender priority status ahead of creditors filing subsequent liens, and is valid for a five-year period. The filing date is recorded, and the lender's documents are assigned a file number. These documents contain a detailed record of the collateral pledged or taken by the lender, establishing the lender's claim against assets by the borrower in event that the borrower defaults or goes bankrupt.

http://www.allbusiness.com/glossaries/article-9/4943985-1.html

[Justpoor]

My first payment isn't due until June and I wanted to file in July.

[Justpoor]

Thanks Startingover. I hope it doesn't take too long.

[doingpoorly]

curious... what is the reason for making a certain number of payments before filing. What does this accomplish or avoid?

[liz417]

curious... what is the reason for making a certain number of payments before filing. What does this accomplish or avoid?

My attorney didn't tell me why, but I think it's to show that you could actually afford the payments.

[eddiep]

Startingover

I am in the process of getting a modification on my mortgage, does that information apply to me? I am waiting for the "official" documents to arrive, I have to sign and have thme notarized. Do I also have to wait for the lein to be filed?