Lease Buy-Out/Transfer Questions
Lease Buy-Out/Transfer Questions
I'm considering purchasing a 2009 G37, but the circumstances of the sale make it quite a bit complicated, leaving me with a ton of questions.
I'm actually purchasing the vehicle from a private owner that is currently leasing the car via IFS.
Does anyone know the process for such a transaction? Can I actually buy the lease out directly? Or will the original lease holder need to buy it out and turn around to sell it to me privately?
If I simply took over the lease via transfer, would I have the option to purchase anytime thereafter?
To further complicate things, I'm in Texas and the seller lives in California. Would I pay taxes in CA or Texas when I register the vehicle?
We plan on going to a dealership to complete the transaction but I'd like to be as prepared and informed as possible once that happens.
Thank you so much for any help!
I'm actually purchasing the vehicle from a private owner that is currently leasing the car via IFS.
Does anyone know the process for such a transaction? Can I actually buy the lease out directly? Or will the original lease holder need to buy it out and turn around to sell it to me privately?
If I simply took over the lease via transfer, would I have the option to purchase anytime thereafter?
To further complicate things, I'm in Texas and the seller lives in California. Would I pay taxes in CA or Texas when I register the vehicle?
We plan on going to a dealership to complete the transaction but I'd like to be as prepared and informed as possible once that happens.
Thank you so much for any help!
Normally lease buy out are not that great option and you can find better deals if you buy from private party who has title in hand or has a lien. Lease you have to worry about the negotiation that the other seller did like Money factor, Deposits, Residual value and other items. Unless he is putting extra money down or giving you a hell of a deal. I would keep searching around for a vehicle closer to you for your price. Most of the time at the end of the lease when you have the option to buy the car out you can usually find a similar vehicle for $1000-$1500 cheaper in the used car market. Infiniti does not negotiate a penny on when you buy the car after the lease is up.
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