How to Sell a Leased Car

Selling a leased car is a bit more complex than a simple car sale. You don't technically own the car since you don't have the title but you can still broker a sale.

Difficulty:

Moderately Easy

Instructions

Things You'll Need

• Leased automobile
• Permission from car company
• Active bank account

1. Determine the remaining amount on your lease. In order to make it practical for you, the car must sell for a price equal or higher to the remaining amount owed on the lease.

2. Check the market value of your car. Ideally, it should be higher or equal to the remaining amount on the lease.

3. Ask the leasing company for permission to sell the car.

4. Sell the car to the interested party. Once the person pays you the money, you will need to send the appropriate amount on to the leasing company. The leasing company will then send you the title of the car.

5. Send the title of the car to the individual who just bought it.

Tips & Warnings

• Your leasing company will be able to give you more detailed information on their rules regarding selling a leased car.

• You and the buyer must both pay sales tax on the transaction. Avoid paying double sales tax by orchestrating a sale directly from the leasing company to the buyer.