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Truck Is Dead - Don't want loan after BK7

New Member

Re: Truck Is Dead - Don't want loan after BK7

I have learned that a car is an ongoing loss. The only choice I have is how do I want to take that loss (assuming I must have a car). I have tried multiple methods - leasing economy cars, paying off and keeping older vehicles, making payments on lightly used vehicles - I have never been able to figure out the best way. 


In the end it depends on your needs. I leased a Honda Civic for 3 years and had a really small payment and no repairs. I made payments and had repairs on other vehicles and that ended up being more expensive than leasing. 


I don't have the best answer but if you know how much you drive every month and can drive an economy car then a lease on a civic or corolla will give you an exact and consistent cost to budget for which is nice especially if extra funds are in short supply.



Message 11 of 12
Frequent Contributor

Re: Truck Is Dead - Don't want loan after BK7

Update to my truck concerns:


I am now driving a Honda Pilot that a family member owns. Probably will sell my 4Runner (eventually).

Siggy updated Feb 16 2023
Chapter 7 BK discharge: 12/19/22
Inquiries: 6/6mo 7/12mo 7/24mo – Latest inquiry: NFCU - Approved 01/23
Financial Goals: Continue to build by wellness business (currently a DBA), heal my credit report with time and good payment history
“You’re never gonna make the shots you don’t take, so you might as well fire away!” – Little Big Town (music group)

Message 12 of 12
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