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What else can I help you with?
Can you sell a leased car before the end of the lease term?
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.
Is it possible for me to sell my leased car before the lease term is completed?
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.
Can you lease a car in an open chapter 13 bankruptcy plan?
Yes
We bought out our car after a four year lease. We turned around and sold the car for more than the lease buyout price. Is that difference considered income on our taxes?
generally, no. Most of the time are only required to disclose income from automobile sales if you sell several in that year.
Is buying a car after the lease good?
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.
How long after a chapter 7 bankruptcy can someone get a car lease?
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.
Can you lease a car in chapter 13 bankruptcy without getting permission from the trustee?
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.
People who lease a car are paying for what?
The reduction in the car's value while they're driving it
Is there a difference between a term business car lease and a commercial auto lease, or are they one and the same?
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.
What if your husband files bankruptcy and you have a leased car?
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Can you cosign a car lease for me?
I am unable to cosign a car lease for you.
Can you trade in a leased car?
Yes, you can. When you lease a car you have the option of purchasing the vehicle at any time. When you go in to make a trade, the dealership will have to call the leasing company and get your payoff. Basically the dealership will pay the remaining balance of the lease and purchase the vehicle from the leasing company. It really depends on your situation, in a perfect world, the vehicle buyout would be the same as its trade in value but that is ususally not the case. If you have a closed end lease, you would be better off if you waited the lease out before purchasing a new vehicle. You may be fortunate enough to have vehicle that is worth more than the lease buy out amount. These days, there are a number of services which match people who are looking to lease cars with those who are looking to get out of a lease.
