Honda lease is up in April.. Need some direction

[RW3]

I really need some direction here.

My wife and I went to the Honda dealer today to discuss buying the lease out on our van. Our credit scores are low and the finance person said that he was not optimistic about us being approved, but he would fight for us. We had a few late payments on our report for Honda, we were discharged from Chp.7 back in June of 2009. We are able to put down between $2-3K

We just paid our 2002 Accord off in full, purchased in 2005, from Honda finance, and really, really want to keep our van. The lease ends on 4/17/2010, where else can I go to get an auto loan? I don't have much of a back up plan.

I f you look at our monthly income/expenses we have about a $1600 surplus that's also includes groceries, gas, and the current lease payment.

The payoff is around $19,500.

[keepinitreal]

You can believe the finance person WILL do everything he can to get you financed, so he'll probably find a lending source for you. That's how he gets paid. Also, when your lease is up, you can typically continue to make the same lease payment for several additional months until you know what you're ultimately going to do. So, you don't absolutely have to have everything decided a few weeks from now. If you have a checking or savings account, you could apply for a loan there. Good luck!

[LDL]

I had a lease with Honda also for my van. It was originally 48 mths. Initially extended for 6 mths in 2008 at my request and then they offered an additional 18 mths for a total of 2 yrs to my original lease agreement. I was thrilled since my house hadn't sold yet and it helped me conserve my finances. At the time of both extensions though, I was never late, my credit was great and I hadn't BK'd . Have you tried asking for an extension yet?

[LSUTiger32]

You have a $1,600 a month surplus after ALL expenses? If you do, see if they will extend the lease 6 months at the same payment and then sock that $1,600 a month away for 6 months. That gives you almost $10K to buy a used Honda van! Then you are free and clear.