Second episode/adhyaya – Sankhya yoga
vāsāṁsi jīrṇāni yathā vihāya
vāsāṁsi—garments; jīrṇāni—old and worn out; yathā—as it is; vihāya—giving up; navāni—new garments; gṛhṇāti—does accept; naraḥ—a man; aparāṇi—other; tathā—in the same way; śarīrāṇi—bodies; vihāya—giving up; jīrṇāni—old and useless; anyāni—different; saṁyāti—verily accepts; navāni—new sets; dehī—the embodied.
Text Source – “http://prabhupadabooks.com/bg”
As a man discards old and worn out garments to accept new garments, similarly the embodied discards the old and worn out bodies to accept a new body.
I read in one of Sri Sri RaviShankar’s discourse that there is no use in committing suicide as it is equivalent to throwing away your jacket when you are feeling cold. So you need this body to experience the fruits of your karma, if you discard it, then you need a new one to finish up your karma balance. Both places body is described akin to a garment.
Once the body is old and worn out, you discard this body and accept a new one according to your karma.