End of Car Lease, Can I buy the car?

[csv12478]

My husband and I are in the middle of filing for BK. Still getting everything together and final payment due to lawyer. We found out out auto loan lease will be up on 8/4/10 and we have the option to buy or give the car back. We need the car for transportation to and from work. Also, our other car that is paid off does not fit my whole family (6 of us). IF we can find financing can we purchase the car or not because we are about to file BK?

[ohantonio]

With a lot of companies, if you have been in good standing, you can extend the lease for 12 more months to buy yourself some more time.

[dakota112]

I did not reaffirm my 2 cars with AHFC and our CH7 is now discharged for almost 3 months. Have kep current on the payments and hopefully I will be able to buy both vehicles for their stated residual values when they come due in 12 more months. If not , than back they go unless they should repo them before that time is up.

[youngnbroke]

We haven't filed yet (but plan to next month) and we bought out our leased car last month. With our credit not being so great, we got a higher interest rate, but its better than dragging a co-signer into this mess! It was pretty easy, just called the lease company and they sent us paperwork to fill out, and that was it!