Herbie rides again...I think

[eliteboi]

Man Herbie just won't leave me alone!

So, let me elaborate on what happened for all of you and try to make some sense of this.

The car was financed through a secondary financing company on 12/08 I paid all my payments on time, until the car broke. They didn't want the car fixed, because I was xx amount of days late, and the car was going to have a "s" title I stopped paying on the car though I had the money to pay for it. Why pay on a car I wasn't going to keep, that was my logic (im 23)

3 months of negotiations with the insurance company, the only way I was able to walk away, was by putting the car in my bankruptcy. Man this year sucked... Well, my insurance paid the storage on the car from the begging date of the claim, to when we settled. It was roughly 3 months!
I cried over the car, this was/is my kid, I planned on keeping it until the day I died, no joke!

The insurance company told the lien holder to go pick it up, and it went round and round. The car was still sitting at the shop until last night. A good month and a half after I settled my claim, and my mechanic being a GREAT guy didn't bother me with letting me know it was still there.... Until I called and asked him about a coworkers vw and how much something would cost and he brought it up *sigh*

I called the fiance company again, who are a slimy tiny little company and they said "We are not going to pay the storage fees on the car we didn't bring it there"
My response was "Um, you're the lien holder, I have taken the plates off the car, told you where it was this entire time, and un-insured it." The lady I spoke to said "It has a blown engine, we aren't going to pick it up, its between you in the mechanic for the fees but we have no vested interest in the car"

Uh ok! So I had him towed home last night, he hasn't been washed since July
So, heres my secret plan of attack. I don't need the title to register the car, I still have the plates and have re insured it. I'm trying to hunt down an APH engine for it, and while its out i'm going to stick to my plan of putting a new clutch in it, and a k04, if my budget allows for it.

After fixing it, my plan is to cut the finance company a check for whats owed on the car... I know that sounds backwards but whatevs.

Finding this engine local is a p.i.t.a Anyone knows of a good APH engine, that is reasonably priced please do let me know!

It still runs, on 3 cylinders, no power steering or power brakes, but once put back together I could drive it back and fourth to the store...

Well... Don't flame me, i'm trying to save it from the scrapper. I couldn't stand the thought of this perfectly good car, that I spent hours sweating, blood and tears over just getting wasted...

No one else wanted it around, so I brought it back where I can at least keep an eye on it..

Last night I went to pop the hood and the level underneath the hood broke.. DOH!

Anyways sorry for the rambling i'll keep everyone updated.

[bugsy98nb]

Good luck with that , Um ... I think Id pay the car off first before looking into fixing it , they could still try to repo it since you owe money on it . either way hope it works out for you and you can get your baby back on the road

[Zann]

Id sit on it and continue saving money for it's parts. If they don't come for it after a year see about getting a new title as if it was a 'junkyard rebuild'.

But then again, in a year's time with values dropping like a rock and a new model soon to be released, a entire working car of the same year can be had for cheap. Least then you would have a entire car to use for parts until they do come to collect the remains.

[MyOtherRidesAVette]

Originally Posted by eliteboi

The car was financed through a secondary financing company on 12/08 I paid all my payments on time, until the car broke. They didn't want the car fixed, because I was xx amount of days late, and the car was going to have a "s" title I stopped paying on the car though I had the money to pay for it. Why pay on a car I wasn't going to keep, that was my logic (im 23)
You signed a contract with the lender for a loan for which you were legally obligated, regardless of the condition of the vehicle.

3 months of negotiations with the insurance company, the only way I was able to walk away, was by putting the car in my bankruptcy. You're above logic is part of the reason you ended up here! Man this year sucked... Well, my insurance paid the storage on the car from the begging date of the claim, to when we settled. It was roughly 3 months!
I cried over the car, this was/is my kid, I planned on keeping it until the day I died, no joke!

The insurance company told the lien holder to go pick it up, and it went round and round. The car was still sitting at the shop until last night. A good month and a half after I settled my claim, and my mechanic being a GREAT guy didn't bother me with letting me know it was still there.... Until I called and asked him about a coworkers vw and how much something would cost and he brought it up *sigh*

I called the fiance company again, who are a slimy tiny little Weren't so slimy when you couldn't get regular financing though, were they? company and they said "We are not going to pay the storage fees on the car we didn't bring it there"My response was "Um, you're the lien holder, I have taken the plates off the car , told you where it was this entire time, and un-insured it." The lady I spoke to said "It has a blown engine, we aren't going to pick it up, its between you in the mechanic for the fees but we have no vested interest in the car"

Uh ok! So I had him towed home last night, he hasn't been washed since July
So, heres my secret plan of attack. I don't need the title to register the car, I still have the plates and have re insured it. I'm trying to hunt down an APH engine for it, and while its out i'm going to stick to my plan of putting a new clutch in it, and a k04, if my budget allows for it.

After fixing it, my plan is to cut the finance company a check for whats owed on the car... I know that sounds backwards but whatevs.

Finding this engine local is a p.i.t.a Anyone knows of a good APH engine, that is reasonably priced please do let me know!

It still runs, on 3 cylinders, no power steering or power brakes, but once put back together I could drive it back and fourth to the store...

Well... Don't flame me, i'm trying to save it from the scrapper. I couldn't stand the thought of this perfectly good car, that I spent hours sweating, blood and tears over just getting wasted...

No one else wanted it around, so I brought it back where I can at least keep an eye on it..

Last night I went to pop the hood and the level underneath the hood broke.. DOH!

Anyways sorry for the rambling i'll keep everyone updated.

This is all so confusing. Who has title to the car (not the title itself, but the legal ownership of the vehicle)? This was determined by the bankruptcy court. Or is that still pending? You may have inadvertently stole the car at this point, regardless of the what the lady you spoke with told you, and they could bring theft charges (felony) against you. If you fix the car, you run a great risk of them repossessing the car as the least drastic of their options, and then where are you. SOMEONE has legal title to this vehicle, don't invest a penny, until you have a lien release from the Lendor AND a written release from the garage who was storing it, or a receipt from the garage showing all incurred charges as paid, and the title in your hand, free and clear. You are fixing someone else's car!

Best idea yet, talk to your bankruptcy attorney, and see what he recommends. Secret plans don't work when they circumvent the law!

[Zann]

With such financial distress my personal advice would be don't fix up a car at all. You need to go buy a daily driver and work at fixing your financial issues and saving for your future.

Get a Honda Civic, change the oil, and pay your bills and put money in savings. Sinking money into projects that do not go up in value (such as cars) is wasteful spending. Save money today so your not in a bankruptcy again in 10 years.

I speak from experience. I spent ALL my money in my teens and twenties on car customizations and car stereos. All that money pissed away living paycheck to paycheck constantly getting the new thing and selling the old thing for pennies.

I'm now 34 and added up about $100,000+ spent with nothing to show for it short of some pictures of past cars.

[MyOtherRidesAVette]

Originally Posted by Zann

With such financial distress my personal advice would be don't fix up a car at all. You need to go buy a daily driver and work at fixing your financial issues and saving for your future.

Get a Honda Civic, change the oil, and pay your bills and put money in savings. Sinking money into projects that do not go up in value (such as cars) is wasteful spending. Save money today so your not in a bankruptcy again in 10 years.

I speak from experience. I spent ALL my money in my teens and twenties on car customizations and car stereos. All that money pissed away living paycheck to paycheck constantly getting the new thing and selling the old thing for pennies.

I'm now 34 and added up about $100,000+ spent with nothing to show for it short of some pictures of past cars.

Excellent advice! Seems we've all been there in one way or another! If it was only at the bottom end of 6 figures, you did good!

MORAV

[JaceyMelissa]

you should listen to what the others have said. they hit the nail on the head. learn from our past lesssons therefor you should not have to go through it.. good luck

[Wingnut_rb]

Dave Ramsey!

[Smileybug]

I'm still confused as to why you stopped paying for the car when it "broke". You took out a loan that needed to be paid regardless of the condition of the car. How was it "broken" anyway? I guess the whole beginning of the story is unclear to me. You say you were up to date on payments but when the car broke, the financing company didn't want you to fix it because you were late? Doesn't make sense.

No matter what, you need to get your finances in order. Get the car paid off. THEN worry about fixing it. Also, a lot of the questions MORAV asked should be answered. Sounds like you could get yourself in trouble by more or less hiding the car.

[MyOtherRidesAVette]

Originally Posted by Smileybug

I'm still confused as to why you stopped paying for the car when it "broke". You took out a loan that needed to be paid regardless of the condition of the car. How was it "broken" anyway? I guess the whole beginning of the story is unclear to me. You say you were up to date on payments but when the car broke, the financing company didn't want you to fix it because you were late? Doesn't make sense.

No matter what, you need to get your finances in order. Get the car paid off. THEN worry about fixing it. Also, a lot of the questions MORAV asked should be answered. Sounds like you could get yourself in trouble by more or less hiding the car.

,

[Zann]

Originally Posted by Smileybug

I'm still confused as to why you stopped paying for the car when it "broke". You took out a loan that needed to be paid regardless of the condition of the car. How was it "broken" anyway? I guess the whole beginning of the story is unclear to me. You say you were up to date on payments but when the car broke, the financing company didn't want you to fix it because you were late? Doesn't make sense.

No matter what, you need to get your finances in order. Get the car paid off. THEN worry about fixing it. Also, a lot of the questions MORAV asked should be answered. Sounds like you could get yourself in trouble by more or less hiding the car.

I assume the conversation was something like this: He wanted to spend his next car payment to fix the car instead. The finance company said no, you pay us for the car regardless if its broke or not. He responded that he wasn't going to pay them and then look at a car that he then can't fix because he spent his available funds on the next car payment. It went down hill from there.

[eliteboi]

Originally Posted by MyOtherRidesAVette

This is all so confusing. Who has title to the car (not the title itself, but the legal ownership of the vehicle)? This was determined by the bankruptcy court. Or is that still pending? You may have inadvertently stole the car at this point, regardless of the what the lady you spoke with told you, and they could bring theft charges (felony) against you. If you fix the car, you run a great risk of them repossessing the car as the least drastic of their options, and then where are you. SOMEONE has legal title to this vehicle, don't invest a penny, until you have a lien release from the Lendor AND a written release from the garage who was storing it, or a receipt from the garage showing all incurred charges as paid, and the title in your hand, free and clear. You are fixing someone else's car!

The lien holder still has the title. I have in writing from them that they have zero intentions of taking possession of the vehicle, due to a blown engine. They know where the vehicle is, and if they want it by all means they can come and get it.

I checked with the police department, the vehicle is not reported as stolen/missing. My mechanic is not holding me responsible for any storage fees, unless the fiance company decides they want to pick the car up.

Best idea yet, talk to your bankruptcy attorney, and see what he recommends. Secret plans don't work when they circumvent the law!

I talked to the person who handled my bankruptcy. No one has sought any repossession on the vehicle. They have not contacted me, I have only contacted them. I told them my intentions where to store the vehicle at my residence.

The fiance company has been reported to the bankruptcy court already, and got hit with a fine for trying to collect on a debt while I was in bankruptcy. They had multiple complaints against them, and the court after me providing multiple phone records, where not happy with the fiance company...

I'm trying to explain this all to the best of my ability!
My tax return should more then be able to cover the cost to pay the car off, and get it fixed.

As far as they payments go, I had GAP on my car, I didn't understand that once the claim had started I still needed to pay on it, the insurance company kept going back and forth between fixing and and totaling it....

I'm still confused as to why you stopped paying for the car when it "broke". You took out a loan that needed to be paid regardless of the condition of the car. How was it "broken" anyway? I guess the whole beginning of the story is unclear to me. You say you were up to date on payments but when the car broke, the financing company didn't want you to fix it because you were late? Doesn't make sense.

No matter what, you need to get your finances in order. Get the car paid off. THEN worry about fixing it. Also, a lot of the questions MORAV asked should be answered. Sounds like you could get yourself in trouble by more or less hiding the car.

My fiances are back in order, thanks. Cars not hidden, it's in plain sight with current tags, and insurance on it.


"I assume the conversation was something like this: He wanted to spend his next car payment to fix the car instead. The finance company said no, you pay us for the car regardless if its broke or not. He responded that he wasn't going to pay them and then look at a car that he then can't fix because he spent his available funds on the next car payment. It went down hill from there. "

Not the case. No need to elaborate on this one here.


MORAV- The company themselves, as I stated above got themselves into trouble. You can not collect, or take possession of collateral or call to collect on debt when someone is in bankruptcy.

They have multiple complaints against them with the B.B.B for a whole list of different things.

P.S I already have another car, there are pictures of it in the other rides part of the forum. The beetles just going to sit until it's straightened out.

Thanks for the flaming guys!

[Zann]

I wasn't flaming at all. The story was vague and confusing until you explained it in depth.

You wanted our opinion and we gave you our opinion. Save your money and don't waste further money on a inexpensive broke down car. You now have a car - now set your finances up to secure your future instead of working on a project car.

You seem to be me 10 years ago and I hate to see you go down the same path. I lost my home, 2 cars repossessed, and multiple credit card and loan debt.

How did this happen to me? I tell others who ask it was a layoff and that I'm one of the victims of the economy. Poor me.

The true story is I got a taste of good money at a sales job and went crazy with buying the first home I looked at, I had a paid off truck but wanted a 350z then got bored and wanted a Marauder so got that too. A single guy with three cars. I wanted the cars customized. I wanted a home theater system with 105 inch projector screen. I wanted a gazebo with a hot tub. I wanted, wanted, wanted.

Then of course sales plummet, companies merge, I see greener grass elsewhere, I was cocky, etc and then I'm unemployed. Nothing was my fault of course...I blamed everyone else.

I now live with my mom, went off the radar, and debt collectors never found me. My credit is trashed and I pay my day to day expenses with cash. My bad debt is due to fall off in 2013 if I can hide that long.

I hate to see other young people go down the same path.

[MyOtherRidesAVette]

Originally Posted by Zann

I wasn't flaming at all. The story was vague and confusing until you explained it in depth.

You wanted our opinion and we gave you our opinion. Save your money and don't waste further money on a inexpensive broke down car. You now have a car - now set your finances up to secure your future instead of working on a project car.

You seem to be me 10 years ago and I hate to see you go down the same path. I lost my home, 2 cars repossessed, and multiple credit card and loan debt.

How did this happen to me? I tell others who ask it was a layoff and that I'm one of the victims of the economy. Poor me.

The true story is I got a taste of good money at a sales job and went crazy with buying the first home I looked at, I had a paid off truck but wanted a 350z then got bored and wanted a Marauder so got that too. A single guy with three cars. I wanted the cars customized. I wanted a home theater system with 105 inch projector screen. I wanted a gazebo with a hot tub. I wanted, wanted, wanted.

Then of course sales plummet, companies merge, I see greener grass elsewhere, I was cocky, etc and then I'm unemployed. Nothing was my fault of course...I blamed everyone else.

I now live with my mom, went off the radar, and debt collectors never found me. My credit is trashed and I pay my day to day expenses with cash. My bad debt is due to fall off in 2013 if I can hide that long.

I hate to see other young people go down the same path.

No "flaming" from me either, eliteboy!

Zann, through your posts, you have told him what I didn't want to say and hurt his feelings. And, well said!

Not the Lone Ranger buddy, been down the same road, and dumb 'ol me, not once but twice!

Got to go, trying to help a young lady on here to get HER priorities in the proper order.

This thread is done, completed! See you both around the Org.

[eliteboi]

You know for me it's not as simple as just letting this car "go"

It's something i'm attached to, and i'd rather go completely upside down on it, because I never, ever ever ever ever ever ever ever ever ever had ANY plan of getting rid of it.

My debt is pretty much wiped out right now, my bills are caught up. My tax return should be pretty hefty, and hopefully all of this will go as legitimately as possible. The car needs a new radiator, and new engine. Whats another $3500? I know I could easily go out, and buy a much newer one with less miles, but can you really put a price on something sentimental right?

I've given this analogy with the car the whole time.

If your dog/cat/loved one needed a heart, and you could get them one so you didn't have to lose them you would, wouldn't you?

[MyOtherRidesAVette]

Originally Posted by eliteboi

You know for me it's not as simple as just letting this car "go"

It's something i'm attached to, and i'd rather go completely upside down on it, because I never, ever ever ever ever ever ever ever ever ever had ANY plan of getting rid of it.

My debt is pretty much wiped out right now, my bills are caught up. My tax return should be pretty hefty, and hopefully all of this will go as legitimately as possible. The car needs a new radiator, and new engine. Whats another $3500? I know I could easily go out, and buy a much newer one with less miles, but can you really put a price on something sentimental right?

I've given this analogy with the car the whole time.

If your dog/cat/loved one needed a heart, and you could get them one so you didn't have to lose them you would, wouldn't you?

Okay, one more reply!


Two comments and then I'm going to wish you the best!

• I have had many, many cars throughout my lifetime. Most of which I "loved", some that were just good transportation or work vehicles, all of which if I parted with them, I parted with for a variety of reasons. Probably 8 or 10, that if I had today, in the condition they were in when I parted with them, would each fetch $30,000 - $50,000. I have always had a love affair with the automobile, and I like them high end, fast and nice! But you can't love an inanimate object, not as you love another person or and animal. It's not like this was something you had spent a small fortune either buying or restoring and contributed sweat and blood to. Nor as Zann said, is this a vehicle that will ever be worth anything. Get over it!
• IF you can obtain a clear title for your bug, without investing another penny, go for it. Part it out, or sell it as is (some fool my want it as much as you think you do, but I think not). Take the money you get, add it to the tax refund check, and put it in a savings account. Your credit doesn't exist, and won't for a long time. You will be paying cash for everything. Maybe take a couple hundred dollars and get a secured credit card with a reputable company, I might suggest Orchard Bank, and if as you say, you have learned a lesson, use it carefully, pay it off every month, and start rebuilding your credit. Don't use the card to charge beyond your means, use it to do exactly what it is designed for, to rebuild your credit.

Zann, more than anyone else, has given you excellent advice and backed it up with the why! Listen to him... Don't continue to be stupid!

Best of luck to you, eliteboi!

[glassbuggy]

Had an uncle who had a similar situation with a Caravan, Engine was blown and he was in Bnkrpsy. He called the bank and told them to come and get the van, but they didn't want it because the high mileage and blown engine weren't worth their time, they said to just keep driving it, but with a burnt engine that wasn't an option. He asked what to do about the title and she said to make them an offer on it. They accepted 75 bucks and sent him the title.
Bottom line is that it was written off by the lender, if they get a couple bucks for the title then they made $
Just make them an offer and they can take it or leave it.