End of Lease transfer of car
#1
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End of Lease transfer of car
My lease is up in June (1 payment left) My parents want to buy the car out for the price listed on my contract. Called the dealer near me a few weeks back. They tell me "no problem, just a 50 dollar fee." Called back yesterday and am now told that they will not do this for me unless the person takes the extended warranty for around 2800 dollars. They said it is there police that you have to take the extended warranty.
Called up an Infiniti dealer about 30 minutes away and they said they would do it no problem for me with or without an extended warranty.
I called up Infiniti Financial before calling the second dealer and they were annoyed that the first dealer would make a statement like that. They wanted to do a conference call with the first dealer. I said no thanks, I'll take my business to the second dealer.
I'm waiting for the Q50 so I want to wait before I get into my next car. My G37x has 25k miles on it and I was wondering if they were trying to get me to just turn the car in or something like that.
Anyone ever experience something like this?
Called up an Infiniti dealer about 30 minutes away and they said they would do it no problem for me with or without an extended warranty.
I called up Infiniti Financial before calling the second dealer and they were annoyed that the first dealer would make a statement like that. They wanted to do a conference call with the first dealer. I said no thanks, I'll take my business to the second dealer.
I'm waiting for the Q50 so I want to wait before I get into my next car. My G37x has 25k miles on it and I was wondering if they were trying to get me to just turn the car in or something like that.
Anyone ever experience something like this?
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She even told me the name of the other dealer to go to instead.
What is the best way for me to do this. Got a little confused at the dealer today. They were packed with customers so I offered to come back next week. One payment left on my lease. As I said above my parents want this car at my lease buyout price of a tad more then 24k. The dealer says basically I have to buy the car and transfer it to them, but how could I do that if they are taking a loan for the car. Doesn't the bank hold the title or something on the car until it is paid off completely? They want to move the registration, title and everything into there names.
What is the best way for me to do this. Got a little confused at the dealer today. They were packed with customers so I offered to come back next week. One payment left on my lease. As I said above my parents want this car at my lease buyout price of a tad more then 24k. The dealer says basically I have to buy the car and transfer it to them, but how could I do that if they are taking a loan for the car. Doesn't the bank hold the title or something on the car until it is paid off completely? They want to move the registration, title and everything into there names.
Last edited by Wiggum; 04-27-2013 at 08:59 PM.
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#8
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I did this exact same thing on a Jeep lease a couple years ago. Went into the dealership with my friend who was buying out the lease at the end, the dealer took care of everything. There was like a $25 paperwork fee but I essentially signed the paperwork taking ownership of it (I guess) then immediately "sold" it to my friend. Any decent dealer should be VERY familiar with this process and it should go very smoothly.
phxflyboy
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#9
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I don't know the exact circumstances you had, but you can't sell or give away what you don't own. He can transfer the lease to them and they can buy it at lease end. Or he can buy it and sell it to them. He can't sell it to them until he owns it. If he can get the dealership to agree to sell it to them for the residual price when he turns it in that would be great but they don't have to do that.
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I don't know the exact circumstances you had, but you can't sell or give away what you don't own. He can transfer the lease to them and they can buy it at lease end. Or he can buy it and sell it to them. He can't sell it to them until he owns it. If he can get the dealership to agree to sell it to them for the residual price when he turns it in that would be great but they don't have to do that.
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LOL what I should do is get the car from her with the extended warranty. Then turn right around before I walk out of her office and say. I thought about it some more and decided to cancel the extended warranty.