Bankruptcy Discharge - New Car Lease

[tokeyvt]

What is the name of your state? PA

I recently received my discharge from Chapter 7 on 8-24 & due to my dire situation that I am in need of a car, I was curious if it is possible to lease a car? Any input would be much appreciated. Thank you.

[azatty]

Possible? Yes. But you won't like the terms. Each lender's policies vary. There are plenty of dealerships that will solicit your business straight out of bankruptcy. Expect to pay a much higher interest rate, though.

[Ladynred]

Why do you have to have a NEW car ?? Find yourself a good used car, one you can afford with CASH, and will get you where you want to go for the next 2-3 years while you rebuild your credit. The plan shouldn't be to jump back into debt, the plan after discharge should be to learn to live within your means.

The rates will be ugly for any new financing and believe me, they are just drooling waiting for the newly bankrupt to jump back on the debt train.. one they cannot get off of with another BK for EIGHT years !

[tokeyvt]

Thanks for the advice & thoughts, I'm exploring all options @ this point.