Leasing car right before ch 7

[Debts099]

I am thinking about leasing an H3 Hummer at about $350/month as my only means of transporation. I will be filing a chapter 7 in like 3 months, I am afraid the US Trustee office might object as this not being a reasonable means of transportation, even though the lease payment is not that excessive, does anyone have any thought?

[CATCHMEIFYOUCAN]

why you want to lease ! ? ? ? its like throwing you money away ??? ANYWHO, my honda got flooded a month before I filed. I sold my honda to my neighbor and used that money and the insurance money I got from damage to my car and bought new model Hyundai Sonata, nothing fancy. My payments ended being about $350 a month, but at least I see keeping the car in the long run unlike a leasing one ??? No questions asked.

CMIYC

[Debts099]

I like leasing because it gets me a better car for less money, also I like to be in a new car every 3 years. In addition I dont have to worry about repairs or buying extended warranty. I agree leasing is not for everyone and buying saves money in the long run.

[CATCHMEIFYOUCAN]

Hmmm .. I liked the idea of having a new car every couple years ! But I'm so accident prone and isn't one responsible for like dings and scratches etc ??? I usually end up getting a new car/used car once it hits 100,000 miles and thats about in 4-5 years time. Damn, I already up 27,000 miles on my Hyundai and I bought it last July (with 5000 miles already on it!)

Best Wishes, CMIYC

[lrprn]

How do you plan to justify a Hummer to your trustee? It's a gas-guzzling luxury car, not a transportation necessity. You are filing bankruptcy - bankrupt people do not drive Hummers that they lease a few months before they file. You might as well wave a red flag in front of your creditors and trustee telling them to come take a very close look at your case to see if you are filing in bad faith.

Flling bankruptcy is only the start to rebuilding yourself financially. I don't know why you are filing - maybe it's because of some circumstance out of your control. However, if that's not the case and you don't change the spending habits that got you into bankruptcy in the first place, you will find yourself back in the hole, but this time you can't file Ch 7 bk again for eight years. Don't waste this chance!

[Spartan]

Where can you lease a H3 for $350 a month? How many thousands of $ you have to put upfront?

[FilingOnMyOwn]

Thats the most ridiculous thing I've ever heard. Don't do it.

[ilovemycaitybug]

How do you plan to justify a Hummer to your trustee? It's a gas-guzzling luxury car, not a transportation necessity. You are filing bankruptcy - bankrupt people do not drive Hummers that they lease a few months before they file. You might as well wave a red flag in front of your creditors and trustee telling them to come take a very close look at your case to see if you are filing in bad faith.

I totally agree. I wouldn't do it. If you really do need a new car, I'd stick with something more typical and economical. JMHO.