What are you paying on 6-mo. insurance premiums on your fortwo?

[John_H]

So the thing to do would be to finance as much as possible, file chapter 7 with the Smart excluded, then pay off what you can in cash once the dust settles?

I'd think that if you got the car now and had $6k equity, it would be hard to exclude that.

But these are the details that the high-priced lawyer helps you with.

Good luck with the whole process, homeslice.

[homeslice]

No, there would be no equity in the car once I bought it. You're not allowed to have any financed vehicle that has more than $2500 in equity. If you do, they can take it. Since cars depreciate so badly, you end up breaking even for years to come.

I'm leaving in a few minutes to check out another smart I found that's under $13,000 with less than 2,000 miles on it. I'll know on Monday if they approve me or not.

[The Rigger]

Originally Posted by homeslice

There's no way I could even dream of trying to pay back $90,000 with a Chapter 13.

[*backing away, hands raised*]
Okay whatever, man. You've got all the answers at the ripe old age of 23, go'head 'n do what you wanna do. I'm just tryin' to be helpful, is all.

[mdfortwoguy]

If you're going to be driving it for a while, maybe you should go for something more practical than a smart... what happens if you and your wife have kids come along or such?

[homeslice]

Haven't been able to have kids for nearly 20 years. Not worrying about that part any time soon.

Looks like I won't be getting a smart after all. I came back from the dealer and for the very first time in my life I had a dealer tell me, "Sorry, we can't help you." He handed my credit app back and said goodbye.

Looks like I will just have to wait until I get $17,000 cash saved up. That's what it will cost for the fortwo I want with tax, doc fees, dealer fee's, etc.

I checked out a used fortwo with 1500 miles and the hood would not latch at all. I told the dealer about that the car was note safe to drive and they didn't even care.

This is why I don't want to buy a used car. I don't know if that car was wrecked or why the hood was messed up. I'd rather just wait until I get the money saved and pay cash.

If I become patient and do this, I get the following benefits for waiting so long:

- ZERO interest to be paid.
- No possibility of a repo in the future because of a job loss, etc.
- Can get the rock bottom minimum coverage by law (PIP-PD) if I so desire it.
- The car is ALL MINE from the start and I get the title.

The only negative is having to wait a long time to buy it.

What I am hoping is that when the 2010 fortwo comes out that there will be a factory cruise control option instead of me having to install an aftermarket that could void a warranty if the installation goes bad.

I have two more dealers that have smart's that I tried but after I saw my credit report from the first dealer tonight and my credit is so messed up, I couldn't finance a pack of bubble gum at this point. My lawyer told me to stop paying everything. I did as instructed and it shows. I am just amazed that my credit score is a 596. I thought it would be in the low to mid 400's by now.

[SOBEMEN]

What were the results of your findings around insurance premiums in South Florida?
Curious to see what rates

[fpage77]

Originally Posted by SOBEMEN

What were the results of your findings around insurance premiums in South Florida?
Curious to see what rates

Homeslice got banned dude.


.... months ago you'll get no response.

[forestacademy]

ANd he wasn't going to have the car for months anyway.

[Z06-LITE]

Originally Posted by SOBEMEN

What were the results of your findings around insurance premiums in South Florida?
Curious to see what rates

I live in Jacksonville and have my insurance through AARP, the Hartford. On my 2009 smart Brabus coupe and my 2004 Corvette Z06, I pay $800.00 per year. Actually, the smart ins. is just a little more than the Corvette.

[Old smart]

$177/6 mos, $354/yr - - $300k/$300k, $500 deductable. USAA.