Less than 1 year left on a lease, if someone goes to purchase a vehicle, can dealerships pay the rest of the lease.
2007-04-11 11:42:44 · 4 answers · asked by R.A. 1 in Cars & Transportation ➔ Buying & Selling
Yes and no,they are not buying out the lease they will just purchase the vehicle from the lease company.If they purchase the vehicle for less than it is worth you will have to pay the balance.You can sell a lease vehicle anytime you want,it's just that you will owe a lot of money on the vehicle unless you are at the end of the lease.I was leasing a Jeep Wrangler and sold it with about 1 year left on a lease and made about $2500 after it was paid off.But it was in excellent condition with low mileage and that vehicle is very popular where I live.
2007-04-11 14:26:06 · answer #1 · answered by toledojeeper 5 · 1⤊ 0⤋
Yes they can...the problem is that they're probably not going to give you anything on a trade in and you may still owe. It'll depend on the car, mileage, lease terms etc. Go to a dealer and bs with a salesman about it and have them run some numbers.
2007-04-11 18:46:48 · answer #2 · answered by John 4 · 0⤊ 0⤋
Only if the lease includes a purchasing clause. Otherwise, they would have to return it to its rightful owners, which would be the company you leased it from in the first place.
2007-04-11 18:50:31 · answer #3 · answered by abfabmom1 7 · 0⤊ 0⤋
Usually only with your agreement. Read the terms of the lease to see whether the dealer has such an option.
2007-04-11 18:55:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋