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I am considering declaring personal bankruptcy, my car lease is almost up, what are my best options. Should I go and buy a car (loan) or lease a car. I just want to make sure because I need a vehicle for work.

One Response to “car”

A licensed trustee said...

Either option works – leases tend to be a more expensive way to buy a car in the long run, but can result in lower payments in the short term. There are some financial institutions that will repossess your car (even if it is new and you just signed the deal) when you file for bankruptcy so be careful. I suggest you contact a trustee in your area and ask them what normally happens where you live.