A Chapter 7 bankruptcy usually only lasts three to five months, and the only way you’ll typically be able to lease another vehicle is if you reaffirmed your current loan or lease during the bankruptcy.
Wait until you’ve been discharged – Before you head off to a dealership, your Chapter 7 bankruptcy must be complete.
Can you lease a car after Chapter 7 discharge?
Keeping an Existing Lease
If you assume the lease, you’ll continue to make your lease payment, sand your contract will go on as before. If you file for Chapter 7, the account won’t be included in your bankruptcy and discharged.1 Mar 2019
Can I buy a car after Chapter 7?
If you’re wondering if you can buy a car after chapter 7 bankruptcy, the answer is yes. But you may have to wait a few months. Approximately 60 days after your 341 meeting, your bankruptcy will be discharged. At that time, your previous debts are expunged and you may begin to apply for credit, including an auto loan.14 Sep 2016
Can I keep my leased car in Chapter 7?
Using Chapter 7 to Keep Your Leased Vehicle. But if you’ve leased your vehicle instead of buying it on credit, then that “reaffirmation” option doesn’t apply to you. But if you do want and need to keep your leased vehicle, you will likely be able to do so under either the Chapter 7 or Chapter 13 procedures.4 May 2016