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Old 09-14-2005, 02:30 PM
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I am in the middle of dealing with this on our Lexus before I can pick up my X5. It has delayed everything by 3 weeks. It has been a ridiculous pain in the neck. Does anyone know why a leasing company would not just let you sell to a third party like any other bank loan allows?
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Old 09-14-2005, 02:34 PM
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I looked into buying out my lease earlier this year, but the combination of remaining lease paymetns (which you have to pay no matter what) in addtion to the residual was exhorbitant and not smart financially for me at this point in my lease. you can assign the lease to someone else as long as you're not within 6 mnths of the end of your leaase. (i think it's 6 months, might be different)
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Old 09-14-2005, 03:06 PM
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Quote:
Originally Posted by dan_fitz
... Does anyone know why a leasing company would not just let you sell to a third party ...?

That is because you cannot sell something, that does not belong to you. If you lease a car, it belongs to the Leasing-Company, not to you
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Old 09-14-2005, 05:51 PM
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Quote:
Originally Posted by ZettaQuattro
That is because you cannot sell something, that does not belong to you. If you lease a car, it belongs to the Leasing-Company, not to you
You do not own a car technically if there is an outstanding loan balance on the car, but people sell them to third parties all the time. It belongs to the Bank, not to you

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