Hi all,

Let's just say a car has 10,000 KMS and when you bought the car, and ran a search on the car, it shows that the previous owner was the name of the dealer. And if you bought the car, it will then show your name as the original and only owner, does this raise any questions?

Like for example,
The dealer stated that the car was owned locally by an executive in which he leased and drove it for about 6 months to a year. Isn't the name of leaser suppose to be recorded on the report? and therefore hen u in turn buy that car, u should be recorded as the second owner?

 

No. The owner would be the dealer that has leased the car to someone-like the executive. When you are leasing you are not truly the owner of the vehicle.

Do you not believe the dealer?

 

When you lease a car the ownership is always in the dealers name. Only the plate portion of the ownership is in your name. This does not mean that when you buy it from the dealer that you are the first owner....the dealer was the first owner.

 

Isn't ownership actually the Finance company (ie: Nissan Finance for Infiniti's?)

They are also added to your insurance policy as a benefactor in case of write off.

 

You could be right in some cases. I have a couple of leases through my company and the leasee is actually the leasing company owned by a dealership group and not the manufacturer or their finance co. To complicatre things this group doesn't even own a dealership with that brand and got the vehicles out of Province. And yes the leasee were added to my insurance policy.

In reference to the OP, the name of the person leasing wouldn't be expected to be shown on an ownership document transferring title.

 

NO NO NO NO NO
this is because of a friend of mine. We were having a discussion in regards to this. My argument was along the lines of what you all stated but my friend stated otherwise. I then second guessed myself and therefore had to ask here.

Thanks for the feedback all and for confirming...
I knew i was not losing my mind

 

Now, now, let's not get hasty here... you still may be losing your mind

 

hahahaha
well u lose a little to gain a little.....


ok...now i must be losing my mind....
it's Friday, i'm in weekend mode

 

Okay. As for not losing your mind??? J/K

Enjoy letting your friend know he lost.

 

hahaha i have already....
thanks for confirming.........

 

This is correct, that Nissan Finance owns the vehicle. What could happen is when the lessee returns the vehicle, the dealership can buy it from Finance and put it on their used car lot. For that time, the dealership is in fact the owner. I was told that the dealership still has to pay the PST to finance to get the car though.

Hope that helps.