This isn't a once-in-a-lifetime opportunity....

Posted by mk_378 (164.106.129.130) on July 29, 2004 at 21:27:29:

In Reply to: Re: Toyota Fresh Start posted by GaPeach on July 29, 2004 at 16:33:15:

Its a standard ploy to get you to come in to a car dealer. But the longer you wait after bankruptcy, the better a deal you will qualify for. Dealers love for people to come in and say "I know I have bad credit, what can you do for me?" It's a license to rip off because they know the buyer will take anything that is offered.

It's a judgement call whether the old car is worth keeping. Research the make and model you have and see if it has a good or bad reputation for longevity. You have to ask yourself "Right now, would I be willing to pay $300 a month for 2 years for this car?" That is the choice you have. Ignore the past and make the decision based on the future. Always think this way for every financial decision you face. It is common for people to factor in "sunk" costs (what was paid in the past) or emotional attachement to an item. This often leads to a bad decision.

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