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Should I buy a new hybrid car if I just went through Chapter 7 bankruptcy?
"Through bankruptcy, I was able to keep my car and car loan. However, my current car gets only about 22 mpg.
I want a hybrid car that gets at least 35 mpg. Should I get the new car if it will save me on gas, even if I just went through bankruptcy?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“No, you should absolutely not buy a new car. You just got out of bankruptcy. The last thing you want to do is get back into debt.
Drive your current car until you have to duct-tape the doors on. It’s the only way that you’re going to get yourself out of bad spending habits and crippling debt.”
View full answer
- Gregory R.
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