can you sell a car your leasing

[JeremiahLynn]

Yes, you can sell a car you are leasing. The process is straightforward but involves specific steps: you must first buy out the lease from the leasing company and then sell the vehicle. The key factor is your car's current market value versus its predetermined residual value—the price set in your contract to buy the car at lease-end. If the market value is higher than the residual value, you have positive equity and can potentially profit.

The Process:

1. Review Your Lease Agreement: Check for a purchase option price and any early termination fees or stipulations about third-party sales.
2. Obtain Your Payoff Quote: Contact the leasing company to get the exact amount required to buy the vehicle. This includes the residual value, possibly remaining payments, and fees.
3. Determine Market Value: Get a cash offer from services like CarMax, Carvana, or Vroom, and compare it to your payoff quote.
4. Secure Financing (if needed): If you don't have the cash to cover the payoff amount, you may need to arrange a loan from a bank or credit union.
5. Complete the Transaction: Once you secure the funds, the leasing company will transfer the title to you. You can then immediately sell the car to the dealer or buyer.

Here’s a comparison of common scenarios:

Scenario	Market Value vs. Residual Value	Financial Outcome	Action
Positive Equity	Market value is $3,000 higher	Potential profit of ~$2,500 after fees	Proceed with sale for a gain
Break-Even	Market value is within $500 of payoff	Covers fees, minimal out-of-pocket cost	A viable option to avoid lease disposition fee
Negative Equity	Market value is $2,000 lower	You must pay the difference to sell	Often better to return the car at lease-end

The main advantage is the potential to make money. The primary disadvantage is the hassle and potential for negative equity if used car prices drop. Always do the math before proceeding.

[Brenda]

Absolutely. I did it last year. My Jeep's residual was $20k, but online buyers were offering $24k. I called the lease company, got the exact payoff amount, took a small loan from my credit union for that sum, bought the Jeep, and signed it over to CarMax the same day. I walked away with a check for the difference. It was a bit of paperwork, but totally worth it. Just get those online offers first to see if it even makes sense.

[VonTucker]

Think of it as a simple math problem. The number you need is the 'residual value' in your lease contract. Then, get a quick online offer from a few places. If their number is bigger than your number, you're in good shape. You'll have to buy the car from the leasing company first, which might mean getting a short-term loan. But if the profit is there, it's a smart way to capitalize on today's strong used car market.

[StCourtney]

You can, but watch out for the fine print. Some leasing companies have clauses that prevent a direct third-party sale, meaning you might be forced to buy it yourself first. There are also fees and sales tax to consider, which can eat into any profit. The market has to be just right. It's not a guaranteed win, so do your homework carefully. For many, the simplicity of just turning in the car at the end of the lease is the less stressful option.