Bankruptcy and Vehicle Financing



  • andre1969andre1969 Member Posts: 25,320
    ...I plugged Mazda's numbers into a spreadsheet. Considering all you've gone through, Mazda, 19% isn't THAT bad. I've known people who have paid 21% and more, for used cars!

    Anyway though, if you could put just $60 a month more towards that payment, which would get you back up to the $430 a month you were paying, you'll have the car paid off in 4 years instead of 5, and save about $1800 in interest.

    Of course, it's all moot if you can't put the extra $60 a month on your payment. Still, a little sacrifice now will mean a big payoff later.

    Whatever you do, good luck. As for the tires for life thing, I agree with the others here that it sounds too good to be true. I recently bought some new brake pads for my car that are supposed to be "guaranteed for life", but when I got the warranty in the mail, there are so many exclusions in it that basically it sounds like just getting in the car and starting it is going to void the warranty!
  • bretfrazbretfraz Member Posts: 2,021
    Yep, it's promoted by Lanier Honda which is just down the street from Toyota Mall of Georgia on Hwy 20. Both are brand new stores competing with one another (there's a new Nissan store across the hwy from Toyota).

    Lanier is also trying to compete with Gwinnett Place Honda (aka Rick Hendrick) who just opened a massive new palace said to be the largest Honda dealer in America. I've been to all these lots and can say GP Honda is incredibly massive.

    When I was at Lanier shopping for Pilot's they told me about "tires for life". Didn't have any paperwork to read so who know what exactly that means. But it seems to work with those who don't want to shop around or drive the 12 miles to Gwinnett Place.
  • jason_nyjason_ny Member Posts: 4
    Hey folks,

    Seem like alot of people have been tough on Mazda so I wanted to share my situation also. I had just bough a new Passat in 11/00 and I lost my job in 5/01 and I was unable to find any steady work after that. I live in NYC and then of course Sept 11th happened and the job market just got worse. So with no income and a new car payments eating up all my savings I started living off of my credit cards. I found temp jobs for a few months at a time but once they ended I would start falling behind on my payments again.

    So finally in Nov 2001 I faced facts and gave my car up as a voluntary repossession. But by that time I was about 20k in credit card debt and still not working steadily. Then in April 02 I found a steady job and tried to speak to AMEX and work something out but they filed a lawsuit against me and refused to work with me. The collection agency they hired said it was too late and they were going to go through with a discovery process look for my assets and try to garnish my wages. So my options were hire a lawyer to protect against wage garnishment or hire a lawyer and declare bankruptcy.

    So I choose bankruptcy and I filed for Chapter 7 in June and I'm waiting for my discharge papers. I just recently checked my credit reports and scores and my credit score was around 480 when I filed and now it's 600 since I now have no debts.

    So with my credit score about 600, I should receive my discharge papers in a few weeks and I was working as a temp at a job which becomes permanent Nov 1st. My annual salary at the job will be 75k. I've been living in the same apt for 3 years.

    Will I be able to get a car loan and what kind of rates would I receive. I'm looking to buy a car equivalent to the Passat I had, meaning something in the 25k range. I'm probably going to put about 5k down so I'll be borrowing about 21-22k. Thanks.
  • abtsellerabtseller Member Posts: 291
    money to spend if you're making $75k/ yr. But...

    "Hey folks,

    Seem like alot of people have been tough on Mazda so I wanted to share my situation also. "

    Did you not see the advice that everyone gave him? Just because you're making good money now, doesn't mean that next month you won't be on the street again.

    You should have no problems getting bought with 18-20% interest, especially with that kind of money down, but...

    what is wrong with buying something a couple of years old with cash, or even put 50% down on something and use the payments to reestablish some car credit?

    I've seen this situation a lot, and I understand the urge to get something new so you can feel like you're on the mend, but its much wiser to SAVE as much money as you can and to learn to live debt-free (less) for a while.

    Good luck, either way!

  • lemkolemko Member Posts: 15,261
    ...the tires for life isn't such a big deal for cars like Civics and Corollas for they last a long, long time and it's not likely you'll need another set of tires while you'll own the car. In the unlikely event you'll need them during this period, the small tires on these cars are usually only $40 or $50 each so a new set will only set the dealer back $160-$200 at most.

    Now, this would be a fantastic deal if your car has expensive high-performance Z-rated tires! A set of tires fo my friend's 1998 Corvette is $1400 and he's lucky to get more than 25K miles from a set. Z -rated tires for my 2002 Cadillac Seville STS are $182 each.
  • black_tulipblack_tulip Member Posts: 435
    You live in NYC, right? Can't you use public transportation for a while , save up a larger downpayment and then buy a car? That is what I would do if I was in your situation.
  • mazdaprofourmazdaprofour Member Posts: 202
    The tires can be same or equivalent model tires. You have to follow the manufacturer procedure for all services and you must take your car to this specific dealer for rotation and services. They figure that most people will not go into them for regular service and that some people will also move away or take the car to another state. Same thing for the free oil changes. I guess they figure that some people will not come to them or will forget or loose the coupon books.
  • jason_nyjason_ny Member Posts: 4
    I haven't decided to buy a car yet just looking into what options I have. Plus the job I just landed is very secure so I know I won't be out on the street any time soon.
  • cliffy1cliffy1 Member Posts: 3,581
    Normal price for GAP is $500 and it is one financial product that MUST be purchased at the time of finance and in many states, insurance companies can not offer it. In fact, I sold it to an Allstate agent about 6 months ago on his Sequoia.

    Some GAP policies are cheaper but some also have pay out limits.
  • brianw220brianw220 Member Posts: 38
    mazda, you paid for the oil change plan -- guaranteed. Most dealers have one and most are administered by their extended warranty provider. They may have told you it was free, but it was an option and you paid for it. The free tires for life is pretty simple. the dealer simply takes $25 from every deal's profit and puts it in an accrual account. The customer must bring their vehicle in the to that dealership for ALL scheduled maintenance: oil changes, rotations, balances, transmission service, etc. according to the owner's manual. Miss one, and you forfeit the tires for life. Very few customers ever collect on a set of tires. Additionally, many customers trade before they ever need new tires. Plus, you don't get free tires for road hazard -- it's for regular wear and tear.
  • lokkilokki Member Posts: 1,200
    A lot of tires now are good for 40 or 50,000 miles. Many people don't keep a car that long, and of those that do, how many will keep up the documentation of the required rotations, etc, in order to qualify.

    I'd like to see the specific requirements of the plan just for fun.

    For someone like Mazda who is going to drive a lot of miles, it may be that it will pay off....depending on what the details of the plan actually are.
  • anonymouspostsanonymousposts Member Posts: 3,802
    I was at Gwinnett Place Honda last night and the new facility is HUGE. I bought a car from the old one back in Oct. 2000 and the old place was 1/4 the size of their new lot.
  • mazdaprofourmazdaprofour Member Posts: 202
    Yes they have a nice location. I do not like most of the sales staff that I dealt with. When I went into lanier honda, I was the only one in the show room. The sales rep was very nice and not pushy at all.
  • mazdaprofourmazdaprofour Member Posts: 202
    Like I said, they have a shady sales staff. I had a similar issue when I looked at 2002 accords...I called them and they said they had 4. I drive down and they had none. I think they just want you to come in. I guess that they figure someone will come down and end up buying something even if it is not what they wanted. I really liked Lanier honda and would recommend them to anyone that I know. So far no problems at all from them.
  • mookie14mookie14 Member Posts: 252
    alright how do i begin 1st off i got a lease with ford the lease ends in 03 like 9-03 it will be paid in full mar 03. now i have chap 7 done 96 i have lawsuit falling in 1-03 credit cards paid in full never late also. never late on the lease. i want a trailblazer Ls 4wd cap one will i hope approve me or will they?? me and my wife bring home like well enough to get looked at very close. so what do someone think i mean i messed up last time and bought a ford and now i have to pay up the blank for miles so anyone?????? ps as far as job time it will be like 8 mths in feb her like 1 yr we both r on the car lease.
  • cliffy1cliffy1 Member Posts: 3,581
    Let me get this straight. You had a BK in '96 and a lawsuit against you in '01 (presumably a judgment). You have no credit card issues and a Ford lease that will be paid off 5 months early. Did I miss anything? If that is the case, your beacon score should be nearly fully recovered and you shouldn't have much difficulty in getting a new car loan. I would suggest paying Equifax and getting your actual score before you do anything, but it sounds like you are in good shape to me.
  • vocusvocus Member Posts: 7,777
    I got GAP on my 2002 Jetta because I drive alot. The car's sticker price was $24,675 and I paid $23,900+ttl with no money down. My GAP was $400 a year ago. $499 is too high for GAP on a loan that's $10,000 less than mine is.
  • mazdaprofourmazdaprofour Member Posts: 202
    Well they adjusted the price of car to get the gap in. Makes no diff to me.
  • tblazer503tblazer503 Member Posts: 620
    Actually Credit Union, is willing to sell me full GAP insurance on my new vehicle for $150/mo
  • anonymouspostsanonymousposts Member Posts: 3,802
    $150 a month? I had gap on one car and it was only $395 for the entire term. Of course I had 0.0% interest so they had less to lose. But still $150 a month sounds outrageous unless you are buying a S-Class at 20% interest.
  • fezofezo Member Posts: 10,384
    Yeah that sounds funny all right.

    What happened to stinky? I dodn't always agree with him but he was good for the mix in here.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • tblazer503tblazer503 Member Posts: 620
    It was $150 full term w/ 5.4% 72mo. whoops... too much talk about xx/mo, blah down lately...
  • fezofezo Member Posts: 10,384
    Much better....
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • anonymouspostsanonymousposts Member Posts: 3,802
  • isellhondasisellhondas Member Posts: 20,341
    Someone decided they didn't like his username?
  • mookie14mookie14 Member Posts: 252
    here is the case first off in feb 03 i will owe 3000 on this exploder. i been in bk since 96 chap 7 a lawsuit filed in 95 comes off the report 1-03. i want a trailblazer 03 cap 1 is the lender i deal with credit cards etc. all will be paid off in dec 02. when i apply in feb03 will they lend me the $$$$$$$$$ like 30000 our take home is much higher than that will they do it anyone????????
  • mazdaprofourmazdaprofour Member Posts: 202
    Got my call from bank and they said that they hope that I am happy with my car and that they will be mailing me my payment invoice soon. I am so glad that things worked out and that I can drive each day without worrying about if the car will make it. I love this honda. I also got a part time job and will save the money from that in a separate account as a backup in case I ever loose my full time job. I can not afford to miss a single payment EVER!. Mookie14, I wish that I could comment, but I would need to know a lot more about you. Like total income. All debts and all expenses.
  • mookie14mookie14 Member Posts: 252
    um like 43000 and really no debt only like rent food etc. 825 thats it credit cards paid off in dec thats it um anything else.
  • mazdaprofourmazdaprofour Member Posts: 202
    Even though some people will knock my opinion, I will post it anyway s. I think that it should not be a problem. You may be asked to put some money down. I would go in with about 10-15% to put down with me. You may wish to also get pre-approval through a bank or a credit union prior to going in. This will make things a heck of a lot easier. Make sure to purchase GAP insurance.
  • tblazer503tblazer503 Member Posts: 620
    see my username? I know own an '03 Accord. nuf said. j/k...

    Here's my story, take it for whatever value you want... The TrailBlazer is a good vehicle. I honestly think that it has many bugs that still need to be worked out, though. For a 30k++ vehicle, it does not dish out nearly what you would expect(at least for me). I honestly enjoyed my Trailblazer, but there were things about it that bugged the heck out of me. Rattles coming from everywhichway, people having HVAC going haywire on them(not me), poor MPG(13-14 for me), Lack of power(275? nah, didn't feel like it to me anyways), rattling door jambs(stops wore out w/in 6mos) mushy suspension(no one makes anything aftermarket to stiffen it up yet), horrendous wind noise, and horrible resale value. The MSRP on my TB was 29,4 when I bought it. I got 21k on trade 15mo later. True, it's my fault for trading so early, but couldn't deal w/ the problems and payments together, just ended up being too much, especially since GM would not even humor my request to try and get better mileage. (said down to 10MPG is common on these vehicles so 13-14 mixed driving MPG was actually very good). There were good things I miss like 4x4, and having a SUV, but all other things come in my '03 Accord for about 24k, and its a double 5star Crash car. dual air, 8 cup holders, cool gauges, awesome handling, Side air bags, Electronic Brake distribution, ABS, etc.

    As for the cost, I would say that you will get someone that will take the loan, but probably not at a great intrest rate. Say 7% for 5yrs. Thats roughly $600/mo(full 30k) Say you do your trade also... Say you get roughly 12k on a trade, and owe 3k thats 9k in positive assets on your SUV. 21k for 60mos @7% is still about 425/mo.

    I say you probably will get the loan provided you trade the Explorer in, but I personally would go with something else. Say a Pilot, Durango, Pathfinder, 4runner... I wish I had gone that route...

    I don't mean to put down GM, but my experience with their TB was, different. I'm back in my imports now... If you truly love the vehicle, then by all means, but take it on the freeway, especially on a semiwindy day, and listen to what the road tells you w/ all windows up and the radio turned on... you will still hear the wind/road... kinda irritating.
  • fezofezo Member Posts: 10,384
    Nice choice on the Accord - will certainly resolve all your rattle and clunk issues.

    Leaving the SUV argument aside for a moment (I personally don't believe anyone who doesn't have a real need for such a vehicle whould wast their money and the limited gasoline supply, but there's no accounting for some fokls definition of need vs want), GM has a real quality problem. The kinds of problems you describe are a huge issue for a new vehicle. Now if their only competition was Ford there wouldn't be a big problem - they do the same thing. But they have to compete with Honda. Toyota. Nissan. Subaru (heck - could've gotten a Legacy and had your 4WD...). Even Chrysler is cleaning up its act slooooowly.

    Mookie - To ME you don't sound in bad shape at all. One of our dealers or sales people that actually know the real limits will chime in soon with a better answer but I'm betting you'll be fine.

    If you can manage ANY of tblazers suggestions (Pilot, Durango, Pathfinder, 4runner. - I might leave the Durango out but that's just me) I'd do that. Look for long term value. These will provide that.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • tblazer503tblazer503 Member Posts: 620
    fezo, but I have to admit that later, I would like to get a p/up or SUV again, definitely not new, and definitely not domestic. It was fun going 4x4ing on the trails, having tailgate parties, always having a seat at the local coffee shop, and made it easier to move. Loved the higher field of vision, and being able to look down into other's cars.. lol. Then real life caught up w/ me. Getting 13MPG(EPA rated 16/21) and insurance, and payments got in the way of buying a house... Saving $200/mo on payments and gas alone right now.

    I personally would go w/ the Pilot. Not too small, not big, holds resale, etc. and runs about 25k.
  • anonymouspostsanonymousposts Member Posts: 3,802
    We bought a 2000 Silverado back in March of 2000 and got rid of it 7 months later because of long-term durability questions. The truck had spent 2 weeks in the shop right after we bought it for a sticking throttle, a cracked rear frame around the sliding glass window, and to get raildust out of the paint. The worst part about the sliding window frame is that they could't even fix it with OEM parts because alot of them crack and GM didn't bother to come up with a fix for it so they put an aftermarket window in. After having plenty of trouble-free Honda/Acura/Toyota products we just couldn't deal with the trips to the dealer. It was plenty quick, great seats, and a beautiful truck but in the end it wasn't worth it.

    We paid $23,000 for it and 7 months and 7,000 miles later only got $16,500 in trade. My 99 Accord that I had at the time had never been to the dealer for anything other than scheduled maintenance, we paid $18,900 for it in January of 99 and got $14,250 2 years and 40,000 miles later.
  • isellhondasisellhondas Member Posts: 20,341
    I always wonder why...Maybe I'm too practical...but WHY, people who have been in and are in financial trouble just have to go out and buy something like a Trailblazer?

    An impractical, expensive troublesome gas guzzler instead of something else?

    I'll never understand...
  • anonymouspostsanonymousposts Member Posts: 3,802
    I actually agree with you isell. I see it all the time where I work. Somebody will come in with awful credit, a 19% interest rate, finance $20,000 for a 99 Expedition with 60,000 miles and end up paying $31,000 after all the interest charges. BUT not to mention that you know they will be late on those $500 notes because they weren't making the $300 payments on the Neon they traded so they'll end up paying 5% late fees on those payments. If they are more than 7 days late every month they are going to pay another $1,000 in late fees which means even more interest.

    And then you have to remember that they'll never have equity in this car, get tired of paying the $500 note a couple of years later, and then want to come in and trade their 99 Expedition which now has 80,000 miles for a nice used car with a $250 payment.

    It's a vicious cycle and I applaud those who can stick to their guns and get out of it. And I do think that jumping into another expensive car right after a BK regardless of your income is a mistake. Buy something you can afford even if you had to work at McDonalds. Save the extra money and in a couple of years you will have a nice down payment for a nicer car and a lower interest rate because you will have re-established your credit.
  • fezofezo Member Posts: 10,384
    I even went extravagant for me by buying both vehicles new and carrying loans on them. It will take me time to get out from under that but I'll be OK - still pay the bills but it threw the savings waaaay off and I have 4 kids - lots ahead.

    That said equity in the car was important to me so I have an Accord and an Odyssey. The Accord has lost relatively little value in 53,000 miles (I did just replace the tires) and the Ody virtually none in over a year. This works for me.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • hicairahicaira Member Posts: 276
    I just gotta know....

    Why would a car that has five seating positions need eight cupholders?

  • ladypilotladypilot Member Posts: 20
    It's because sometimes you forget to remove the dirty/empty cups before you add new drinks to the car! ;-)
  • mookie14mookie14 Member Posts: 252
    Way to go on helping me with advice! But man, it's not worth it for me to buy a Pilot, I simply can't fit in it!!! I can't afford a Toyota . . . well maybe, but I can't fit in the new 4runner. Plus, I don't want a car. So what it boils down to is that you all don't like the trailblazer, WHY??? Is it the 2003 trailblazer that you are referring to?? It's the only midsize I can fit in. I gotta ask this question, what do you think about the Envoy???????
  • hicairahicaira Member Posts: 276
    You can't fit?

  • caramocaramo Member Posts: 93
    The Envoy is more expensive, but the engine, drivetrain, etc. is the same.
  • tblazer503tblazer503 Member Posts: 620
    I am referring to the Trailblazer. I ownED the 2002 Trailblazer LS. Now I hold lower expectations for a domestic vs. import(from experience) but it was an overall disspointment. I don't dislike the Trailblazer, I think it has much potential if they can make it run the way it should. For a GM, I was very impressed, but the biggest hitters for me overall was the cost of the insurance, poor crash scores, and poor fuel economy. I have everything in my car that I had in my Trailblazer except for dual air(which I could have gotten) and 4x4. But, I am also saving $200/mo in payments AND gas. Insurance is $15 more per month for me on the Trailblazer than the Accord, and the accord has just as much room.

    check out and They both have crash tests for the Trailblazer, and it doesn't look promising for a frontal impact. Granted its a brick wall, and there is more weight to stop, but overall still dissapointing.

    Why don't you want a car? Do you really use your SUV for any of it's intentions? If you do, then great, if you dont, perhaps you should consider whether it's worth the 10k premium initially plus gas, insurance, etc over the years for a SUV. The other considerations are a Subaru Legacy... its got AWD, the Highlander is nice, and gets supurb mileage... etc..

    Here's a question, do you plan to keep it, or lease it? If you plan to keep it, consider the costs of the PCM, ECU, 4L60E, or even the I6 if any part broke. All completely electronic. I believe the I6 is in the ballpark of 8k, the PCM is in the 1,5 etc. The 100k tuneup alone will cost you an arm and a leg.

    Gotta say that the extra $200 is more fun for me than the SUV was.. =o) Check out the Trailblazer forum and read all 7k posts... 7k posts on a one year old vehicle...
  • fezofezo Member Posts: 10,384
    The generally abysmal repair records, insanely fast epreciation - thee things cetainly count. While if I were buying I'd look at crash tests I hadn't here. There is NO excuse for a company as big as GM to put out such a vehicle. I mean, they have done the same thing with their minivans as well. The newer ones that came out years ago are just new bodies on teh older ones and in the dozen years or whatever it is they STILL suck in the safety department.

    When you buy something that is going to immediately leave you upside down on the loan you are setting up all sorts of trouble and that is so easy to do on such a quickly depreciating vehicle. If you decide it isn't what you thought - too bad. More importantly,if you have tblazer's experience of it turning out to be a piece of junk (in this case we're talking one specific unit that was that bad but to a degree it's a crapshoot) you are screwed.

    Check what Honda and Toyota offer for the $$ quite closely. On my Ody the difference wasn't as big as I'd thought at all when you put it feature by feature against the competition and it has lost virtually no value in a year!

    HiC - it's a mystery. Perhaps drinking ghosts? One per pasenger seems right. I will admit that the Ody has several little recesses (4 of them in the cute fold down table) that I'm sure they call cupholers but I wouldn't want to put anything in them - high tipping potential for the drink....
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • tblazer503tblazer503 Member Posts: 620
    So I have one in each door. Front and rear... they will hold a 21oz drink or bottle or can easily. Two in the center console, and two in the rear arm rest. I don't know why they do it either, perhaps for thirsty passenger/drivers... I actually think that they ran out of ideas and decided to put cupholders in... although if you dont use the cupholders in the doors, you have an immense space in the doors to store stuff. Kinda cool feature in the back seat... although the seat backs have pockets too... =oP

    If you check one out, its cool, all these pockets/spaces for stuff, and not enough stuff to put in it... (yet)... =o)

    I sat in the Pilot today, I'm 5'10, and wear a 30" inseam(should be closer to 28") and my head is still at least 4-6" off the roof and this is w/ the sunroof. All the way back, the legs are still about 6" off the pedals... It's very spacious... not sure how anyone could not fit in there, but there is always the possibility.

    Here are some specs if anyone is interested....
    Measurement TB LTZ Pilot
    Head room 40.2/39.6 41.9/40.9
    Leg room 44.6/37.1 41.4/37.4
    Hip room 55.1/58.1 57.5/56.6
    shoulder 58.5/58.5 61.6/61.4
    MSRP 34k 30K
    Wheelbase 113.0 106.3
    length 191.8 188.0
    width 74.6 77.3
    height 74.5 71.7

    Look pretty similar to me... and costs less... unless of course that 3" is the difference... which is possib.e
  • mookie14mookie14 Member Posts: 252
    check this out 6ft 4 inch 339lbs muscle included. i mean i lost out for 3yrs with this exploder really. this is the first time i will really buy i say NOT LEASE A TRUCK THAT I WANT TO OWN. i like suvs seeing that the tahoe is to high like $34000 we cannot afford it so???? i think i really have to give the envoy a second look. if i did get a car i would get a passatt i cant fit in a avalon i tried. the accord well it depends????? not bad but i think honda does not cater to big people. well not big folks but me only thing they have is the minivan. and i thought about it but i said not so thats it.
  • tblazer503tblazer503 Member Posts: 620
    Thats why I said that in some cases, those few inches do make or break a decision... in my case, 5'10 180# it doesn't matter either way..

    I would have to agree that Honda's AND Toyota's don't cater to larger people... They are used to us Japanese people.. =o) I think they have made progress, though as I have seen their interior spaces expand over the years. The big 3 and european mans. seem to give you lots of space.

    I just couldn't justify the extra money anymore, and thats why I got rid of my TB. (BTW, the TB Envoy and Bravada(now Buick Rendevous) is all the same vehicle) Just didn't really need the towing, cargo room, etc. right now. But enjoyed driving it! (the reliability was a major concern.. new model(read new engine, PCM, ECU, etc.) many components on the Triplets are in their first years of production, and so far, have had more than a few problems.

    If you do decide to go with the vehicle, I would just recommend trying to drive a used one if you can find it, and take it on the freeway, it should have gotten some of it's rattles by then(maybe not, mine did after 7500mi) If you still love 'em, then I wish you all the luck
  • mazdaprofourmazdaprofour Member Posts: 202
    Do you guys think I need to wait a year to refinance or do you think that I can do it sooner? anyone?
  • caramocaramo Member Posts: 93
  • andre1969andre1969 Member Posts: 25,320
    ...after just a few months. However, he didn't have bad credit, just very little credit. He'd always paid cash for his cars previously, and usually paid his credit card balances in full every month. At first he was stuck with something like 14.99%, but they dropped it a few points for him after something like 3 or 4 months.

    As for the interior room debate, one thing to consider is that with legroom, for example, they take that measurement from something like the base of the accelerator pedal to the base of the seat cushion. That measurement says nothing about how close the steering wheel and dashboard are to your feet, how high off the floor the seat is, how much wheel well/dead pedal intrusion there is on your left foot, etc. As a result, sometimes a car with less measured legroom can actually be more comfortable, depending on a person's build. Also, I don't think that legroom figure takes into account power seats that can be contorted into really strange angles. For instance, the front legroom figure on my Grandmother's '85 LeSabre was something like 42.2". I could adjust that power seat so that my feet couldn't even reach the pedals, and I'm 6'3"! My Intrepid is rated the same, 42.2", but I wish its seat could go back another inch or two. And a lot of older cars, such as from the 50's, 60's, and 70's, had a bit less measured legroom, but then their dashboards and steering wheels were comfortably out of the way of my legs, although the steering wheels were often too close to my chest. And then there was so much room for my left leg that I could stretch it all the way out and just barely touch the firewall. So in short, don't just go on measurements alone...sit in the thing to make sure it suits you!
  • KCRamKCRam Member Posts: 3,516
    I'd say wait the year so that you will have a new credit history established since your BK discharge date. Twelve steady car payments will look much better than 2 or 3 - refinancing sooner might make it appear as if you can't afford the car you just bought, and would be rejected almost immediately.

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