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SVTPerformance's Chain of Restaurants
Road Side Pub
Question for anyone who's sold a car that's a lease, before lease was over
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<blockquote data-quote="wvmystichrome" data-source="post: 4742228" data-attributes="member: 29010"><p>As I understand thru our local Ford dealer when we inquired about a lease a few years ago, I do not know if you can do that. You lease a car for a period of time. The title is in the dealerships name not yours. They own the car they are just renting it to you. Or whomever you leased it thru. GMAC, Ford Motor Credit, Toyota Credit or so on. I don't think you have the right to sell the car because it is not yours it is theirs. At the end of the lease you have the right to purchase the car from them or just turn it over to them to allow them to sell their car. I would call the dealer you leased the car from and ask (without giving your name) how a lease works and ask a few "what ifs" and this being one. Just MHO. I know after learning a lot about the fine print details I found out about leases, there is just NO WAY I would lease unless that is the only way you could afford a car. The major reason why is you are paying interest on the full value of the car during your lease just as if you had financed it to own. Well if I am only going to use a car for 2 - 3 years then why should I pay the interest on the full amount of the car when I am only going to lease/use it for the 2 - 3 years. Also all the hidden fees are ridiculous.</p></blockquote><p></p>
[QUOTE="wvmystichrome, post: 4742228, member: 29010"] As I understand thru our local Ford dealer when we inquired about a lease a few years ago, I do not know if you can do that. You lease a car for a period of time. The title is in the dealerships name not yours. They own the car they are just renting it to you. Or whomever you leased it thru. GMAC, Ford Motor Credit, Toyota Credit or so on. I don't think you have the right to sell the car because it is not yours it is theirs. At the end of the lease you have the right to purchase the car from them or just turn it over to them to allow them to sell their car. I would call the dealer you leased the car from and ask (without giving your name) how a lease works and ask a few "what ifs" and this being one. Just MHO. I know after learning a lot about the fine print details I found out about leases, there is just NO WAY I would lease unless that is the only way you could afford a car. The major reason why is you are paying interest on the full value of the car during your lease just as if you had financed it to own. Well if I am only going to use a car for 2 - 3 years then why should I pay the interest on the full amount of the car when I am only going to lease/use it for the 2 - 3 years. Also all the hidden fees are ridiculous. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Question for anyone who's sold a car that's a lease, before lease was over
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