I'd love to have some opinions on this. We have one car loan, payment is reasonable, and we are not upside down (pretty close to break-even). However, the vehicle is getting kind of old (1997) and has a few issues. Today the heater core started leaking. We do have a (crappy) warranty we purchased with the vehicle that is supposed to pay for everything but we've only used it once and we ended up paying about 1/2 the repair bill. It also has a cracked windshield and needs new tires.
We were planning on reaffirming (ride-through, actually) but now I'm starting to think maybe we just save our money and try to get something else. I have a decent vehicle to drive to work that is exempt and my husband rides with someone else so he doesn't drive far and could drive one of our POS cars that we have tried to sell in the past but aren't worth much so we just exempted them under the wild card.
My main worry is that the vehicle in question is our "family" vehicle that we use to go to visit our families (3 hours away) and we literally do not have room in my car for all of us. I do not know what our options would be to replace it if we do let it go. Its only worth about $4500 (not subtracting for the issues it has) so I don't know how quickly they will come to take it away. Also, we're paying horrible interest (19.99%) so I'm not concerned about losing our 'great' terms.
Oh and I already filed on 10/27, and included the statement of intention that we would be reaffirming. So this is all assuming that we can still change our mind.
We were planning on reaffirming (ride-through, actually) but now I'm starting to think maybe we just save our money and try to get something else. I have a decent vehicle to drive to work that is exempt and my husband rides with someone else so he doesn't drive far and could drive one of our POS cars that we have tried to sell in the past but aren't worth much so we just exempted them under the wild card.
My main worry is that the vehicle in question is our "family" vehicle that we use to go to visit our families (3 hours away) and we literally do not have room in my car for all of us. I do not know what our options would be to replace it if we do let it go. Its only worth about $4500 (not subtracting for the issues it has) so I don't know how quickly they will come to take it away. Also, we're paying horrible interest (19.99%) so I'm not concerned about losing our 'great' terms.
Oh and I already filed on 10/27, and included the statement of intention that we would be reaffirming. So this is all assuming that we can still change our mind.
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