Looking to lease (preferably) or buy a car 2 years after discharge

[dallasguy]

2 years after discharge, I'm looking to preferably lease a vehicle and I just wanted to see if any of you would be gracious enough to share your experiences. My wife (who did not file for BK) and I currently have 1 car and we have been relocated for work for the next 2 years. For that 2-3 year period, I'm really just in need of a commuter car that I can dump at the end of the term.

So to the point - I have pulled my credit scores (590 for Transunion, 645 for Equifax) and also reviewed my credit report. All of the items that are discharged are listed as such. On my credit score, it does indicate that there accounts were past due (this is all prior to the discharge) - none are currently listed as past due. So a couple of questions, is it correct to assume that "late payments" should be listed on my credit history?

Also, how have you all gone about finding places that would lease or provide financing to someone with a BK on their record? I'd rather not got to 50 different dealerships. I currently bank with Wells Fargo, and there is not a chance that they will provide anything, as they were included as part of the discharge.

Additional notes: Since the discharge, I have not opened up any credit, so other than time since the discharge, I have nothing new on my credit history. Also, I have some cash on hand ($5-7k).

Any information on the steps you all have gone through are greatly appreciated!

[LadyInTheRed]

It is correct for accounts to appear as delinquent in months before you filed. Even though they remain, their impact on your credit rating will decrease over time until they fall of completely.

I have no experience with car leasing, but have a couple of suggestions. Have you considered having only your wife's name on the lease? If you have some time before your relocation, you could improve your credit score by getting a secured credit card, making one charge every month and paying it off as soon as you get your statement.

[dallasguy]

Thanks Lady! You do bring up a good point about having my wife's name on the lease. We just had our first daughter and so she is currently staying home, and thus has no income. As part of this relocation my salary has closed to tripled, so we now have that luxury. While she has good credit, she doesn't have income - would that be counter productive in the eyes of the financing people?

Also, is there an area of the forum that can point to decent secured credit cards? If I'm tying up my cash in a secured credit card, which I don't mind doing, I'd prefer to not get raked over the coals!