| 08-25-2018, 01:23 AM | #1 |
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how to sell a leased car
I'm trying to buy an X5 that's currently on lease. The seller is trying to do a third party lease buyout.
I came across the following steps online. Has anyone here done this before ? Do you know what are the forms mentioned under step #4 ? I tried to google, but couldn't find a whole lot of info on these forms. 1. Call the leasing company and ask for current payoff (Your residual is calculated based on all payments you would have made at the end of the lease. It is NOT 17K @ 3months into your lease.) 2. Find a buyer with the available funds by any means. 3. Make the certified check out to the leasing co. for quoted payoff amount.* 4. Write a sales contract to new owner and some forms from your local DMV to allow them to insure and register the car in their name. (yes, can be done but varies by state). 5. Within 30 days, you should receive title under your name. 6. Sign title over to new owner.* From <https://slickdeals.net/f/2976009-how-to-sell-a-leased-car> |
| 08-27-2018, 11:36 AM | #2 |
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Captain
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Drives: X5 F15 M package
Join Date: Aug 2018
Location: NY
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Go to the dmv website and check the steps to buy a car.
One step should be to sign a buying/selling agreement. |
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