Vehicle under lease and would like to sell.
Asked by GuruDT4LM1 Jun 07, 2024 at 05:18 PM about the 2023 Lincoln Aviator Reserve AWD
Question type: General
I have a 2023 Lincoln Aviator under leased since September 2022. Is it
possible to sell it and then paid off my financing company/dealership? I know
that it is possible in California.
2 Answers
You can't sell something you don't own. When you lease a vehicle you're renting it from the leasing company who is the one who owns it. Jim
GuruDT4LM1 answered 5 months ago
@James and @Ed92626 - Thank you for your responses, I really appreciate it. I just thought I could have someone to buy it out, or continue the lease. The dealership has done this with me before however, this time, I do not want to do another lease or financing with them since I have another vehicle in mind. I have done this with them before with a 2021 Ford explorer, then moved to 2022 Lincoln Aviator and then moved to 2023 Lincoln Aviator. Now, I am just thinking why would it cost it me about 20K to do the deal, the current balance on my lease is around $40K and the cost to buy it out after my lease will be around $34K. Does this mean that, if I will have someone to buy it out or continue my lease, I will still need to pay them $20K? If that is the case, then, It would be better that I will just continue the lease until end and make decision to buy it or return it. The current mileage is about 14,000 kms. Thanks