The party is almost over folks. If you are leasing a vehicle right now the media is still telling you that your vehicle is worth thousands of dollars more than the residual value. Yes, it may be worth more but not as much as it was earlier this year. Hundreds of dollars perhaps, not thousands anymore but the point is moot because all but 3 of the Leasing sources in the USA have made it next to impossible to sell your leased vehicle to a 3rd party. How? Because they have the right to “steer” you back to the original leasing dealer or the location of their choice for processing. There will also be fees most likely and the dealer will want to sell you a replacement vehicle. It is in the Vehicle Lease Agreement that you executed in order to take possession of the vehicle. New Lease agreements will most likely to make it more difficult to capture any upside speculatively.
As of January 15, 2022, unless your vehicle lessor is listed below, you can’t sell your vehicle to a 3rd party you have to work through the leasing dealer and title the vehicle in your name.
Here’s the list:
CHASE
TOYOTA/LEXUS
CCAP (CHRYSLER CAPITAL)
You may be able to purchase the vehicle directly and subsequently resell it to the third party but you will be responsible for taxes & fees. For additional information regarding lease buyouts please email us at:
