Buying my lease car

[whirlwind123]

My vehicles lease is up in november 2010, I called the dealer to see if he can get me with a cosigner to buy my lease, I will have paid into chapter 13 approx one year by then., he advised to first let my attorney know what my plans are and then he will go from there, he also said I should be receiving somethings from the main company about buying out the lease, but I haven't yet and actually I haven't recd any lease bills I just auto matically pay the lease every month as it is outside the plan. Well I contacted my attorney and his office says they will be sending a paper out for me to fill out and return to them and then the trustee and then I will hear from the trustee.

Shouldn't the dealer let me know now what my payment would be? etc., or if I am approved before I go to the trustee?

I am new to this so any help would be appreciated.

Also what is the form that I will be filling out for the trustee?

[whirlwind123]

Had anybody else done this?

[MRH]

I'm only one month into my Chapter 13 plan, and my auto lease will end two years before my 13 plan, so I'm wondering the same thing...

[debtinohio]

The process is to get a writeup of the approx deal numbers from the dealer including price/down payment/int %/etc and submit that along with a form to incur debt through your attorney for approval by the trustee.

My current lease is paid through my plan and ends in 2 months. At which point my plan payment drops $450 for me to replace that car (whose payment was $600). They cut the quality of car down and gave that $150 to unsecureds .

Anyway, I will be contacting my attorney soon so I can get that approval before it's too late.

Now - to buyout your lease you should contact the leasing company directly. I'm not sure why the dealer has to be involved. You may not be able to secure financing for this car and might have to go to roadloans or something like that and purchase a different car from a participating dealer.