goofyZ

the car I'm driving now is leased. does anyone have advice the best way to sell the car to a private party? Do I have to put out the money upfront to get the title before I try to sell it? (I really can't afford to do this). Can I expect a buyer to give me the money for the car and wait a week for the title to come? and lastly, can I put the title in the new buyers name or will it come to me where I'd have to take it to DMV to transfer it to the new buyer?

perfectlyfrank

I actually traded in a leased car to the Nissan dealer when I preordered the 350Z. They ended up selling it back to the dealer where I bought the car, who then paid off the lease. I was a little bit upside down on my lease, so I had to write a check to the Nissan dealer for the difference. This was almost offset by the savings in sales tax on the Z, since I only had to pay tax on the difference between the trade and the price of the Z. I'm not sure how other states work, but Illinois allows you to do this as long as you take delivery of the new car within 9 months.

I have friends who have sold leased cars to private parties. They got the cash for the car, paid off the lease, received the title and then signed it over to the buyer.

There are also a few websites that will assist you in transfering your lease. A couple that come to mind are www.leasetrader.com and www.swapalease.com . I don't have any experience with these types of sites.