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Do what I did (archive)
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Posted by name withheld on August 27, 2001 at 12:04:35:

In Reply to: Trying to get credit for M5 after bankruptcy..(m) posted by Peter Lee on August 24, 2001 at 15:33:34:


I've been turned down by every bank in my area after filing for bankruptcy last year. I think that I can afford the car if I put my mind to paying for it. Any recommendations?

Yes. Save your money and pay cash when you have enough. If you have to stretch for a car at this level, you can't afford it.

And no, I'm NOT being a snot. I have a bankruptcy too, about a year and a half ago - it went along with a divorce - and I bought my M5 for cash last month. That was one of the lessons I learned from the experience - don't buy what you don't need if you can't pay for it.

If you need transportation, buy an Accord. The M5 is not just transportation, it's self-indulgence on a large scale. Doesn't sound like you've earned that much self-indulgence yet. Stick with it and you'll get there.

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