How to Sell a Leased Vehicle

If you have a lease on your current car or truck, that doesn't mean that you can't sell it to someone that may be interested in buying it from you.

Difficulty: Moderately Easy

Instructions

1. Research what your vehicle is worth on the market. You can go to many online sources (see below) and see what comparible cars are offered at. Also look in your local paper.

2. Find your statement from your lease and call the number on it and request the payoff amount. This is the amount you would need to pay in order to buy the car out of the lease. If you have kept the car in excellent condition with low miles and the car maintains good resale value, you may even make money on the sale.

3. You will need to transfer the title to the car from the lease holder to yourself and then to the party that purchases your car. Speak to your lease holder and see what their procedure is for transferring the title to you and then research the requirements in your state for transferring title.

Tips & Warnings

• There are a few lease agreements that do not allow for you to sell the car. It is rare, but it can happen. Be sure to confirm this with your lease holder before you make an sales agreement.