Leasing a Car After Ch. 7

[ApresMoi]

I am in a 12 year old car that needs several thousand in TLC. It might make more sense to trade it in and lease a new car. But that's all in the future (I am in no position to take on a new car payment at this time).

Question: How will a Ch. 7 on my credit report effect my ability to lease a car? I assume I will have higher interest rates/monthly payments, but could I get turned down?

Thank you in advance for any input.

[Klesko]

More then likely you will not be able to lease a car right after BK7. I was told even if I prepaid the entire lease I would still not be able to lease for a min of 12 months after discharge.

[jlmaca]

I agree, chances are slim. Your FICO score will probably be too low and along with the recent BK I'd say you'll be declined. Read up on the repair credit forum there is a lot of good info.