Please help - Buying a lease car from private party
 

Hi guys,
Im looking to buy lease car from a private party. We agreed on a price and he will pay the difference. I will make the payment directly to LExus Financial Sevices. My concern is that will they send the title directly to me? I've heard leaser do not have the right to sell the car.

Your input/feedback will help greatly

Thanks

That is my understanding have sold my late father's Lexus lease. I had the new owner come to the dealership where it was leased and sign lease documents and I paid directly to Toyota Finance what I was agreeing to pay. I suggest you speak to Toyota Finance before proceeding further. You can't sell something you don't hold title to.

That's true. Just take a look at a "Judge Judy" to see how often people try to sell things they don't hold the title to.

I'm pretty sure that the title will go to the current "owner", and then he will have to transfer it you. You must do a Bill of Sale when you make the payment so you have proof that you bought the car from him.
Contact Lexus Financial Services and discuss it with them.

I have traded a leased car (a Lexus no less) to a dealer for a new car. Essentially that is the same as selling a car to someone. The difference is a dealer has all the paperwork that needs to be signed that says the title goes to them.

No question that a call should be made to Lexus financial. Effectively you are paying off the car for the lessee and I'm sure he needs to contact them as well and I'm sure he'll have to sign the car over to you from Lexus when they receive the payoff.

Thanks, guys!!!