Every month they send me the buy out amount, if I were to sell it can I do it before my lease is up? Will the buyer just have to pay the buy out amount, or finish the lease?
2007-01-29 12:16:06 · 7 answers · asked by Nichole D 2 in Cars & Transportation ➔ Buying & Selling
I love how you people assume I'm an idiot. I know I don't "own" the car, but I do have the option to buy it out at anytime for the "buy out" price. I was just curious if anyone knew if someone else could buy it. (Technically thru me)
I appreciate the actual helpful advise.
Thanks :-)
2007-01-29 14:50:56 · update #1
Actually, you can sell the car. It get's a bit tricky with a lease, but you can. If you can find a buyer willing to pay more than your payoff amount, it sure beats trading the car back in. Call whatever bank/agency the lease is through (you most likely won't be calling the dealer). Find out what fees (if any) are involved. You'll probably have the buyer pay direct to the leasing company, and have them agree to send the title direct to him, or to his bank if he's financing your car. Different states most likely have different rules. It is possible. Disregard most of the other posts stating that this is impossible. I work in this industry and have seen it done plenty of times. You can even trade in the car towards purchasing a different one at a dealer, it just works a bit differently.
2007-01-29 12:34:01 · answer #1 · answered by steve k 2 · 4⤊ 0⤋
I am sorry being harsh with you but how can you state your send a statement every month with buyout and then add will the buyer have to pay the buyout ???...to me that makes it balance of payments plus the buyout.
If the buyer is willing to take over lease payments and lender accepts... options at termination at end of lease becomes the responsibillity of whom took over lease
2007-01-29 20:46:59 · answer #2 · answered by Anonymous · 0⤊ 2⤋
Yes just call the leasing company and double check for any hidden fees
2007-01-29 20:21:10 · answer #3 · answered by Boston Mark 5 · 1⤊ 0⤋
If you sell your your car while still under lease you have to pay it off, then you can sell it.
2007-01-29 20:20:19 · answer #4 · answered by Chris J 3 · 0⤊ 2⤋
you'd have to sign the lease over to the buyer, which would intale you going to the bank with the buyer
2007-01-29 20:19:47 · answer #5 · answered by ptcruisher2001 5 · 1⤊ 2⤋
You can't sell what you don't own!
2007-01-29 20:19:20 · answer #6 · answered by JACK OF TRADES 3 · 0⤊ 6⤋
you dont own it so you have no title.So no you cant.
2007-01-29 20:23:29 · answer #7 · answered by Jim C 6 · 0⤊ 5⤋