Bankruptcy Forum

Wife wants to keep a leased car

Pizza
03-13-2009, 01:01 PM
My wife will want to keep a car we have been leasing since early last year. What are the odds that my poor credit (and possible BK) could affect her ability to keep the car? We are both on the note and all payments are current.

ansky0007
03-13-2009, 01:13 PM
Regardless of your situation if you keep paying for the vehicle there should be no reason for them to come and take it.

Pizza
03-13-2009, 01:22 PM
Regardless of your situation if you keep paying for the vehicle there should be no reason for them to come and take it.

Thank you for answering, and sorry my question was too vague.. bear with me.. what I meant was she wants to keep the car AFTER the lease is up in 2011.

ansky0007
03-13-2009, 01:40 PM
Thank you for answering, and sorry my question was too vague.. bear with me.. what I meant was she wants to keep the car AFTER the lease is up in 2011.

Honestly I dont know why you would want to keep it.. Most likely the car would be worth much less than the buyout price. In any case it would be no different than getting any other car loan. If you BK now you should be fine to get a loan in 2011.

Pizza
03-13-2009, 02:32 PM
Honestly I dont know why you would want to keep it.. Most likely the car would be worth much less than the buyout price. In any case it would be no different than getting any other car loan. If you BK now you should be fine to get a loan in 2011.

It's just a good reliable vehicle (which she really needs for her line of work) and we fear that if we return it at the end of the lease we will have a horrible time trying to finance its replacement.

I hope you're right, I hope she has no problems. I'm just worried, that's all.