Car Loan???

[jelo6875]

We filed chapter 7 in June 2010 had 341 9/14/2010 and we are surrending our car because we owe WAY more than it is worth. Question is we have been looking around for a cheaper older car....one of the dealerships we stopped at yesterday my husband preceded to tell them we were just looking and when the guy kept pestering about working out a deal my husband told him the whole bkcy story and that we have to wait till we are discharged....the sales guy precedes to tell my husband it is not a big deal and that he has financed other people before they were discharged???? Is this true??? What would happen if we got another auto loan before we were discharged??? Would the trustee not discharge us?? We won't be discharged until Nov 15th.

[researchnerd]

I'd like to know the answer to this one too. What does your attorney say?

[bbanana]

I would just wait until the discharge hits. You will get a better rate from what I have found and its worry free as the discharge is in your hand. We just got approved for a car loan through Roadloans.com this week for a used car for up to $35k at 8.62% w/$1500 down and we just got our discharge papers last week. Your mileage however may vary.
Just wait it out I say.

[tcreegan]

Hi jelo6875,

Be leery of car lot guys who say they can finance you....they don't do the financing. It is "outsourced" ...they have a group of lenders they work with. Before car shopping, go loan shopping first. Local bank, credit union, online (like bbanna did w/ Roadloans), get a real good idea of what you can get, then see what the dealer can do for you.

As to the BK, anything you sign after filing is a new deal, unless it would somehow lower your expenses on Sched J, I can't see how it would affect the BK filing. But stranger things have happened.....

Enjoy the carlot guys.....HA!

Tom in Colo