In Chapter 13, you have the option to continue to pay for your car lease payment or you can opt out of your car lease payment. The trustee may not allow you to buyout a car lease if other outstanding secured debt needs to be paid.
Yes, you can sell a leased car before the end of the lease term, but there are some factors to consider such as the buyout amount, early termination fees, and the agreement with the leasing company.
Yes
Yes, it is possible to sell a leased car before the lease term is completed, but there are certain factors to consider such as the buyout amount, early termination fees, and the agreement with the leasing company.
generally, no. Most of the time are only required to disclose income from automobile sales if you sell several in that year.
It depends upon the value of the car and your likeihood of purchasing a new vehicle and the terms you'd incur, plus maybe whether you like your car. Find out the value of your car and whether you're comfortable with the value versus the buyout amount.
You can get a car lease immediately after filing for Chapter 7 bankruptcy. Since it would be a post-petition debt, there is no waiting period provided that you qualify income wise. Some lenders may require you to have a discharge, however, it is not required under the law to lease post-filing.
The reduction in the car's value while they're driving it
You will need permission from the trustee before doing anything financial while in chapter 13 bankruptcy. You will have already signed paperwork agreeing to full disclosure with your trustee when you filed.
A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.
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I am unable to cosign a car lease for you.
can a name be added to a car lease