Obama's Economy

Bankruptcy and buying or leasing car?

Which is easier to do after 3 years from having filed bankruptcy, buy or lease? Also, does giving $5000 down make it easier to buy or lease a vehicle?

Bankruptcy itself after 3 years won’t be too big of a problem as long as:

1. You have re-established credit.
2. You did not have a car included.

If a lender sees you had a vehicle included in your bankruptcy, then they will be far less likely to approve your loan. $5,000 helps on a purchase, however for a lease things are different. People can be rejected for a lease with 100% down . It doesn’t make sense, however it’s just the way things happen sometimes. Good luck.

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