selling leased car

Asked by Vardan Jun 28, 2018 at 02:12 PM about the 2017 Lexus RX 350 FWD

Question type: Car Selling & Trading In

I am leasing a car in california. The lease is not up yet, however, I have a buyer.   
What is the process I have to go through to sell the car? Do I purchase it from
Lexus, then sell it to the guy? Do I pay taxes once I purchase it and get the pink
slip and then the person buying it also pays taxes?

1 Answer

104,245

the terms and conditions on your lease paperwork will tell you what needs to be done to sell the car, but basically yes, you have to buy it first, once you have the title you can do whatever you want with it. Hopefully your buyer is patient, cause the process can be drawn out. Call your leasing company for a payoff quote. You might also consider transferring your lease to the buyer (they would have to qualify), in addition to some cash. That can save some steps. The buyer would pay you some cash, then takeover the remainder of your lease. You can do that through a third party, like "Swap A Lease" or "Lease Quit".

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