Purchasing a Leased S2000
03-08-2009, 04:23 PM
#1
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Purchasing a Leased S2000
I'm finding mixed answers about something related to leases. If I were to want to purchase a person's leased S2000 that is leased through Honda Financial, is it possible? On their website it says, "Can someone else purchase my leased vehicle? We are unable to conduct third-party sales. Your leased vehicle may only be purchased by the original lessee(s) or by a dealer."
However, I've read posts where people on here say that they have sold their leased S2000 in the middle of the lease to a private party.
Please help.
Thanks,
Ryan
However, I've read posts where people on here say that they have sold their leased S2000 in the middle of the lease to a private party.
Please help.
Thanks,
Ryan
03-08-2009, 09:34 PM
#3
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Best bet is to contact the bank directly. They are the lien holder and sole owner of the vehicle. The leasee cannot sell the vechile directly so I'm curious as to why he's trying to sell it.
03-08-2009, 11:17 PM
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Too easy, the lease has a payoff, the person leasing the car through Honda can buy it out at any time for the payoff amount. You simply have to pay the lease off and get the title from the seller.
03-09-2009, 09:01 AM
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Originally Posted by ClarkKent,Mar 8 2009, 09:34 PM
The leasee cannot sell the vechile directly so I'm curious as to why he's trying to sell it.
How else would the "leasee" sell the vehicle ...... without ... trying to sell it? 
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03-09-2009, 01:57 PM
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the statement pertains only to lease-end situations. you can sell during the lease to whoever you want as long as the pay off amount gets paid. at lease end (which is after the last payment has been made), only the leasee can buy the car. honda finance corp does not want to get into direct competition with dealers. thats why.
cheers.
cheers.
03-09-2009, 02:55 PM
#10
Thread Starter
Appreciate it. The thing I'm confused about now is:
Lets say the seller owes $20k and I'm buying it from him for $18k. He's going to make the payment to get the car down to the agreed price and then Wells Fargo would cut a check for the difference. Are they going to give me the check or send it directly to Honda Finance. Also, is the title going to get mailed from Honda to the seller or to Wells Fargo?
Lets say the seller owes $20k and I'm buying it from him for $18k. He's going to make the payment to get the car down to the agreed price and then Wells Fargo would cut a check for the difference. Are they going to give me the check or send it directly to Honda Finance. Also, is the title going to get mailed from Honda to the seller or to Wells Fargo?