booper
Posts: 58
Joined: Sat Jun 29, 2013 12:33 am
Delivery Date: 29 Jun 2013
Location: Seattle, WA

How to buyout Lease to 3rd party

Sat Aug 04, 2018 11:25 pm

Is it possible to have a 3rd party pay off the residual at lease end, and get the title of the car?

Wondering how feasible this is to avoid paying double sales tax. In WA state. Do I need to go through a Nissan dealership or NMAC directly?

Thx for any advice!

LeftieBiker
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Re: How to buyout Lease to 3rd party

Sat Aug 04, 2018 11:30 pm

NMAC won't deal with mere people anymore. Go through a reputable dealership.
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GlennD
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Re: How to buyout Lease to 3rd party

Sun Aug 05, 2018 5:02 pm

It is my understanding that Nissan will allow the lease to be transferred but YOU REMAIN LIABLE for any missed payments. it is not like most leas assumptions. You had better trust the assignee.
2012 Cayenne Red SL traded for:
2013 Pearl White SL Premium
Traded for a Cirrus White 2014 Mercedes B (totaled)
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Loved the VW but it sat too low for my old body
Back to a Cirrus White 2017 B250e

booper
Posts: 58
Joined: Sat Jun 29, 2013 12:33 am
Delivery Date: 29 Jun 2013
Location: Seattle, WA

Re: How to buyout Lease to 3rd party

Sun Aug 05, 2018 5:38 pm

GlennD wrote:It is my understanding that Nissan will allow the lease to be transferred but YOU REMAIN LIABLE for any missed payments. it is not like most leas assumptions. You had better trust the assignee.


Thanks, this is actually going to take place at lease end, so no issue there.

Just wondering if anyone here has actually done it, and any hoops they had to jump through or roadblocks encountered.

Thanks!

LeftieBiker
Posts: 9615
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 31 May 2013
Location: Upstate New York, US

Re: How to buyout Lease to 3rd party

Sun Aug 05, 2018 6:59 pm

GlennD wrote:It is my understanding that Nissan will allow the lease to be transferred but YOU REMAIN LIABLE for any missed payments. it is not like most leas assumptions. You had better trust the assignee.


This is an end of lease purchase, not a (partial) assumption of a lease.
Scarlet Ember 2018 Leaf SL W/ Pro Pilot
2009 Vectrix VX-1 W/18 Leaf modules, & 3 EZIP E-bicycles.
PLEASE don't PM me with Leaf questions. Just post in the topic that seems most appropriate.

SageBrush
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Location: Colorado

Re: How to buyout Lease to 3rd party

Sun Aug 05, 2018 7:24 pm

LeftieBiker wrote:
GlennD wrote:It is my understanding that Nissan will allow the lease to be transferred but YOU REMAIN LIABLE for any missed payments. it is not like most leas assumptions. You had better trust the assignee.

This is an end of lease purchase, not a (partial) assumption of a lease.

Good catch.

Though for OP's intent he may want to transfer the lease before it expires.
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GlennD
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Re: How to buyout Lease to 3rd party

Mon Aug 06, 2018 10:54 am

I last traded in my Leaf to a Mercedes dealer with no problem. I think they are used to leases.
2012 Cayenne Red SL traded for:
2013 Pearl White SL Premium
Traded for a Cirrus White 2014 Mercedes B (totaled)
2016 Urano Gray eGolf SEL w/ drive assist
Loved the VW but it sat too low for my old body
Back to a Cirrus White 2017 B250e

baustin
Posts: 673
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Leaf Number: 402162
Location: North Las Vegas, NV

Re: How to buyout Lease to 3rd party

Tue Aug 07, 2018 6:19 pm

booper wrote:Is it possible to have a 3rd party pay off the residual at lease end, and get the title of the car?

Wondering how feasible this is to avoid paying double sales tax. In WA state. Do I need to go through a Nissan dealership or NMAC directly?

Thx for any advice!


The state will find a way to get their cut, one way or another. What you're considering is usually not worth the hassle, if it can be done. NMAC will typically only give the lessee the option to purchase at the end of the lease. If not purchased, they take the car back and it usually ends up at auction. Unless they offer a really good deal, it is usually better to give the car back and find something else.
2013 Leaf SV - Cayenne Red - QC Port - LED Headlights

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