July 11th, 2007 by Questions
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.
July 12, 2007 at 8:06 am, 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.
Log in to Reply
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.