I apologize if this question had been asked before.
I started a small business in another state with my sister. Now it seems that the business will be foreclosed and we would have to file for business BK. However, the bank will not be able to get all their money from the sale of the business, so they are going to come after me. So I may have to file for a personal bk(ch 7 or 13). It is atleast 6 months before I may have to file for this.
I had been leasing a BMW car for the last 3 years, which I just returned. Since I needed a another car, I decided to buy/lease the similar new car again, I have already ordered it and will be getting it an another few weeks. The car is cost around 55k(the msrp is even higher as I am getting a really good deal!).
Is it a good idea to buy an expensive car at this time? Will the creditor or the court turn this against me?
Is it better to lease or buy? If I buy, I am getting a very good interested rate as I have a very good credit score right now.
btw, I have a job and I can easily afford this kind of car. My only confusion is because of the possible upcoming bk.
Thanks in advance
I started a small business in another state with my sister. Now it seems that the business will be foreclosed and we would have to file for business BK. However, the bank will not be able to get all their money from the sale of the business, so they are going to come after me. So I may have to file for a personal bk(ch 7 or 13). It is atleast 6 months before I may have to file for this.
I had been leasing a BMW car for the last 3 years, which I just returned. Since I needed a another car, I decided to buy/lease the similar new car again, I have already ordered it and will be getting it an another few weeks. The car is cost around 55k(the msrp is even higher as I am getting a really good deal!).
Is it a good idea to buy an expensive car at this time? Will the creditor or the court turn this against me?
Is it better to lease or buy? If I buy, I am getting a very good interested rate as I have a very good credit score right now.
btw, I have a job and I can easily afford this kind of car. My only confusion is because of the possible upcoming bk.
Thanks in advance
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