Car Leasing

[Anonymous]

Has anyone had any luck in getting a lease at all after CH.7? I bought a car a week after I filed, and after driving it for the last couple months I actually realize I don't really like it. I was thinking maybe trading into a lease but I don't wanna bother trying if it's impossible after bankruptcy to get approved.

[TRC_WA]

From what I've read getting a lease requires a stronger credit profile than what is required for actually buying the car.

[bstone]

You and I are in the same boat, well, I was in that boat.

I bought a car after discharge based on payment and fuel economy alone, didn't really like it when I bought it but figured I'd like it over time.  Nope, four payments later I hated it more and more each day.  I bought a Mazda 2, which is a TINY car, and I actually felt nervous when I drove it.  Figured if a Smart Car hit me I was going to die.  LOL.

Anyway, I didn't look into leasing because I drive too much for a lease to make sense, but I did look for vehicles with high rebates to hide the negative equity, found a Chevy Cruze diesel with $4500 in rebates, the dealer took another $1500 off sticker since it was a 2014, so I ended up decent.  Interest rate on the Mazda was 17.2% from Chase, got 8.8% from Ally on the Chevy.  Overall I'm pleased, just wish I would have bought what I wanted to begin with.  Hopefully in about six months I can refinance with NFCU down to 3% or so, time will tell.

[paula629]

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@Anonymous wrote:

Has anyone had any luck in getting a lease at all after CH.7? I bought a car a week after I filed, and after driving it for the last couple months I actually realize I don't really like it. I was thinking maybe trading into a lease but I don't wanna bother trying if it's impossible after bankruptcy to get approved.

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I was able to lease a 2014 Infiniti Q 50 about 14-20 days after my discharge.  i was a higher tier, but it has been worth it! The term is for 39 months, but i plan to return the car in January 2015, and get another vehicle, probably another lease....

It can be done... i did it!!! I did have to put more down, $5k, but it built my credit quickly....

[Anonymous]

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@Anonymous wrote:

Has anyone had any luck in getting a lease at all after CH.7? I bought a car a week after I filed, and after driving it for the last couple months I actually realize I don't really like it. I was thinking maybe trading into a lease but I don't wanna bother trying if it's impossible after bankruptcy to get approved.

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It is possible but be prepared to put a lot of money down..

[Anonymous]

So I have a question, do you have to put that kind of money down after every term until your credit is where it should be?

[paula629]

Just the first time....as long as your payments are on time.....Infiniti has there own financial center & rules

[Anonymous]

I was able to get a lease through Hyundai 7 months after my BK7 discharge. I did have a trade that was worth about $2K, but that's all I had to put down other than the first month payment.