Finance Companies - Lease buyout

[calgirl67]

We have 2 Hondas, both low mileage, both coming up to end of lease. We want to keep them - who do we go about buying them when the lease is up. Who is the best finance company to use? We were Ch 7 discharged June 2010. Did NOT reaffirm both cars - did a ride-thru & kept paying no probs. I called Honda finance BK dept and they said we had to go into the Honda dealer and they would do the financing.

Ok we went into the Honda dealer and got the usual BS playing games and they would not even discuss new loans to payout the leases, they just wanted to sell us new cars.

We want to keep them as the residuals are low and they are worth quite a bit more than the residual amounts and the payments would be much lower than new cars.

uugghh.... need some help please!

[chrisdfw]

We have 2 Hondas, both low mileage, both coming up to end of lease. We want to keep them - who do we go about buying them when the lease is up. Who is the best finance company to use? We were Ch 7 discharged June 2010. Did NOT reaffirm both cars - did a ride-thru & kept paying no probs. I called Honda finance BK dept and they said we had to go into the Honda dealer and they would do the financing.

Ok we went into the Honda dealer and got the usual BS playing games and they would not even discuss new loans to payout the leases, they just wanted to sell us new cars.

We want to keep them as the residuals are low and they are worth quite a bit more than the residual amounts and the payments would be much lower than new cars.

uugghh.... need some help please!

If they are worth more than the residuals at least sell them and get your equity if you can't finance them.

I had good luck with Capital One, but my credit score was 672 and it was just over 2 years post discharge. Roadloans also approved me... at 18%, which I find ridiculous considering Capital one gave me 5.4%

Whatever you do don't give them the cars without getting your equity.

[calgirl67]

No want to keep them as do not want to buy new cars and go into double the debt of what the residuals are on our existing cars.

Capital One is sending me offers for car finance. So is Chase. Just wondering what others have gotten 6-9 mths out from discharge.