Letting the Car Go...

[shabam]

Technically now that you're discharged and if you didn't necessarily care about your relationship with Toyota, you could try and see what sort of a deal you can get on a brand new car with someone else.

[Amy26]

Well, I was thinking about that too... I got approved today by some "bad credit" financing place and they were really nasty to me and the approving dealership was a kia place and I asked if they had any nicer used cars and he said to me "you just declared bankruptcy and you're picky already?" Also told me they wouldn't give me anything below 20% and my Toyota is at 9% right now.

[shabam]

I remember someone saying the received 0% from ford a few months back.

[Amy26]

Well, called Ford ... we'll see what they say just for info... I can't imagine getting a 0% offer. I submitted an online app at one place said "congrats you're pre approved" but that's usually bull. I then did a generic app for Ford Motor Credit and it said it was unable to give me an online approval but to work with a dealership to possibly qualify... doesn't hurt to ask and I really don't give a crap about the inqueries on my credit right now haha...

Well he called back and said that my application looks pretty good but since the banks are closed today asked if I would come in on Monday so they could check with the bank and see what could be worked out. I really hate having to go in to get rejected or just to inquire.

[nerves]

Amy - I am curious to hear what you find out from Ford. Would you mind posting the results after you find out from a dealership? I am going to need a new car in the spring (I should be discharged in Jan). We may need to get something for hubby right after discharge if we can't work out an agreement with our bank to keep our truck that has a lien on it. Thank you.

[Chowder]

Well, I thought about that but they wouldn't be able to repo it... lol. We have garage parking where we live and you can't get in without an access card.

If it's an individual garage like a townhouse has, that is true. If it's gated like at an apartment building, where the tenants park, it wont stop them for a second.

[Amy26]

I will let you guys know... I'm almost dead set on keeping my current car and instead of spending money down on a car buy some furniture or something. I am supposed to go to Ford on Monday. They told me as long as I'm discharged and I have a good income they don't see why they couldn't do it. But, we'll see ... I'm mostly doing this for the fun of it than anything else... we lead very boring lives... lol.

I got an offer at carmax today for 24% 1,000 down from Driveway Financing...or something like that. On a 20,000 dollar car. They are gonna hold the car for me till Wednesday when I get paid but I'm pretty sure I'm not gonna do it.

It was funny actually because my husband doesn't have any credit and I wanted him to get on a loan with me to build his credit and when they ran the credit with him on it they wanted 5,000 down. When we took him off and just had me... the down payment went down to 1,000. LOL.

[Amy26]

Ok, so here is the scoop!!!

I went to carmax as I mentioned above... was not happy.

So, I contacted a local Ford dealership... they are totally willing to hook me up! I am approved through AmeriCredit (Ford turned me down) for around 17% interest he said we may be able to do a bit better on that ... only 1,000 down and I'm approved for like 26,000. This is on a brand new ford.

So, I think we're gonna go down today and get this taken care of. It won't be much more per month and I should be able to refi it in like 6 months or so. I'm just very pleased to have 1 thing to rebuild my credit.

I will not be getting any credit cards!!

[nerves]

Thank you Amy for letting me know what the outcome was. I am a Ford girl I am thinking of getting a Focus this spring. I currently have a 96 Escort I bought new and it has been an awesome little car. I haven't had any problems with it. My hubby use to be a chevy man until he met me. I got him to change the hardest thing to change in a man - but I still can't get him to pick up his dirty socks - go figure! Thanks again.

[shabam]

Are you sure it's a good move at 17%?

Maybe keep your car as a ride through and in 6 months look at getting a car then. Allows you to save bit more cash and also gives you time to ensure your credit report is 100% in order. Biggest lesson for me in BK is never assume. Assumption is what screwed my finances up.

[Amy26]

Hehe, little late... it's already purchased and signed. My credit reports are actually all in order and I am able to save plenty, thanks.

[liz417]

Hehe, little late... it's already purchased and signed. My credit reports are actually all in order and I am able to save plenty, thanks.

Okay...details please What kinda car did you get?!? Did you get a good deal or did they try and take advantage of you because of your BK? I plan on waiting a little bit (at least till my credit score recovers a little), then I'm going to walk away from my Honda. I got screwed on this deal because I think the dealership KNEW I was going to file for BK and my credit score was pretty low at the time.

[music12]

wow amy, that was fast!

[Amy26]

Okay...details please What kinda car did you get?!? Did you get a good deal or did they try and take advantage of you because of your BK? I plan on waiting a little bit (at least till my credit score recovers a little), then I'm going to walk away from my Honda. I got screwed on this deal because I think the dealership KNEW I was going to file for BK and my credit score was pretty low at the time.

I mentioned about the deal and stuff in a few posts above the one you quoted!

[liz417]

I mentioned about the deal and stuff in a few posts above the one you quoted!

Oh! Okay, I must be missing something (or blind), what kinda car did you get? Equinox (I think that's what it's called), I think those are cute I was thinking about getting a Ford in about 6 months when I turn in my Honda and after my credit gets a little better