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2 owner CPO - 2nd owner < 1 month?

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Old 07-26-12, 07:26 AM   #1
phatonycmu
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Default 2 owner CPO - 2nd owner < 1 month?

Hello,
I'm in the market for 3rd Gen RX, specifically 2010 MY. I've noticed a couple lease vehicles that have Carfax reports as 2 owners. The first owner will have the lease for a few years and the second owner will have the car less than 30 days according to Carfax. Does anyone know if there is something more explainable than the second owner dumping the car on a dealer after 1 month?

Thanks in advance! I've searched the forums and haven't been able to find anything that may help explaining this.
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Old 07-26-12, 08:03 AM   #2
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Do you know if the second owners actually registered the car for that short period?

Also I have a certain distrust of Carfax. I've Carfax-ed my own cars are found frequent inaccuracies,
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Old 07-26-12, 08:19 AM   #3
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Unfortunately I don't. As an example this car's Carfax shows what I'm seeing:

http://www.lcpo.com/cpo_podetails.ps...alerCode=62906

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Originally Posted by ejm3 View Post
Do you know if the second owners actually registered the car for that short period?

Also I have a certain distrust of Carfax. I've Carfax-ed my own cars are found frequent inaccuracies,
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Old 07-26-12, 12:05 PM   #4
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The interesting part this is that since its been for sale in May it went from Princeton BMW
to Princeton MINI (I assume same dealer to Lawrence Lexus a few days later.

Do you know if Princeton & Lawrence are owned by the same company? If not, maybe Carfax is counting that as a sale and a second owner?

Also maybe contact DMV for more details.
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Old 07-26-12, 12:24 PM   #5
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It doesn't surprise me. I have never leased a Lexus, but a friend of mine has a 450h on lease. It is my understanding that his residual value is below market value (maybe way below market) for the car. I'm sure that many people coming off a lease may buy it out or let another family member/friend buy out the lease. These vehicles may be traded quickly for a new car or a car that better suits the new owners requirements. I used to offer people in my extended family the opportunity to buy my used cars. I gave them great deals ... until I noticed they started reselling them for profit.
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Old 07-27-12, 06:33 AM   #6
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Honestly I thought you only became an offical "owner" of a vehicle if you actually registered it.
In other words a cat can be bought and sold 10 times and as long as it wasn't registered they didn't count as owners and when it finally gets to you and you put plates on it then you would still be the second owner.

In your case above the person buying the car off lease to resell would have had to register it in their name for a month to show up as the owner, which is unlikely I would think.
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Old 07-27-12, 07:14 AM   #7
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When a car comes off a lease it is sent back to the auction block, most of the times the dealer won't put the same car for re sales. After they go to the auction block the dealer registers it when they add it to their inventory that explains the second owner having the car for about 30 days.
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Old 07-29-12, 07:52 AM   #8
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Hey Phato, email me and maybe I can get you a good deal. I'm in NYC. What color you looking for? With or without nav?
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Old 07-29-12, 10:09 AM   #9
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Quote:
Originally Posted by ejm3 View Post
In other words a cat can be bought and sold 10 times and as long as it wasn't registered they didn't count as owners and when it finally gets to you and you put plates on it .
You guys need to put put plates on your cats? Wow I thought a license tag was too much around here. Do you use straps to hold it to the side or does the cat just drag it around by its collar?
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Old 07-29-12, 10:20 AM   #10
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Quote:
Originally Posted by Quatro40 View Post
When a car comes off a lease it is sent back to the auction block, most of the times the dealer won't put the same car for re sales. After they go to the auction block the dealer registers it when they add it to their inventory that explains the second owner having the car for about 30 days.
Sometimes dealers buy you out of the lease early if you lease a new one. Then put it on their lot without griping to auction.
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Old 07-29-12, 10:20 AM
 
 
 
 
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2nd, car, carfax, case, cpo, history, leased, lexus, month, owner, ownership, reading, rx, rx350, traded

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