How to Save Up for a Car

Even if you plan to get a loan, you may not want to get one for the full amount. Generally, the more you can put down on a car, the less you’ll need to borrow, the lower your interest rate, and the lower your monthly payments will be. While saving up a sizeable down payment …

Read more

We Need to Buy a Car While in a Chapter 13 Bankruptcy. How Do We Do This? – Kevin

“Dear Lewis, Filed bankruptcy (Chapter 13) 6 months ago and have found ourselves in a difficult situation. Our car has broken down to the point that it is not worth fixing. We need to get a new car but with our recent bankruptcy, is it even possible; and if so, will our chapter 13 payments …

Read more

Should We Take Money From Our IRA to Buy a Car? – Brenda

“Dear Steve, Retired – husband 69 and I am 65 Husband worked for a now defunct airline for 28 years so pension is minimal from PBGC. I have an IRA worth about $210K (withdrawing $10K lump sum annually). We are both currently collecting social security. My husband has two part-time jobs and I have one …

Read more