Leased car, Turn it in and buy a cheapy before BK 13?

[halelani]

I have a leased vehicle. It cost me around 400 a mo. Does anyone know if they will make me turn it back in? I am in Oregon State. If I this is the case, I have enough cash now to buy a clunker, but will get me back and forth to work. Will I be questioned about this? I plan on filing BK 13 in the next few days.

[FilingAgain]

I am in your same situation. We are planning to file tomorrow and have a leased vehicle that we pay 469 a month on. We have been debating on buying a car today before we file tomorrow. We will be financing for about $200-$250 a month and paying 10,000-11,000 for the car. We don't know what to do b/c we don't want it to look bad that we're buying a car the day before we turn in our paperwork, but we also don't want to get stuck having the trustee tell us whether or not we can get another car, etc.

[gettingby2008]

We were also in a lease, we went out purchased a new/used vehicle that would make it through the 5 year plan and then made arrangements to surrender the vehicle back. The dificiency of the surrendered lease will be included in our plan (if they file a claim)

[liz417]

We were advised to purchase a new/used car before we filed for ch 13. You need something that will last you the duration of your repayment plan 3-5 years. I wouldn't buy an "old clunker" though, also it might be wise if you purchase something that you would make payments on in order to lower your DMI (less to the creditors). Ask your attorney. We were told that we should at least make a couple of payments on the vehicle before we filed and we'll be paying it "outside" the plan.

Good Luck!

[Kkole425]

How are you all gettin car loans? I have $1700.00 payments. i would love to let them go, who would give me a car loan? My credit sucks from not paying my credit cards the last 3 months.