How to buyout Lease to 3rd party

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!

NMAC won't deal with mere people anymore. Go through a reputable dealership.

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.

GlennD said:

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.

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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!

GlennD said:

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.

Click to expand...

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

LeftieBiker said:

GlennD said:

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.

Click to expand...

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

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Good catch.

Though for OP's intent he may want to transfer the lease before it expires.

I last traded in my Leaf to a Mercedes dealer with no problem. I think they are used to leases.

booper said:

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!

Click to expand...

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.