How Do You Buy A Leased Car Second Hand?
Leased cars sold by the lessee can be a good used-car value. After the lessee buys out the lease, you can buy the car from him. No leases or dealers are involved. Like any used car, the price needs to fit the mileage and condition. Step 1 Check the car’s mileage and condition. A leased car should be in good condition because the lessee drove the car under leasing rules. Step 2 Look at the lease to determine the residual value. Use the lease to determine the car’s value after the leasing period. The leasing company uses a residual value when selling a car to the lessee. Know this value when assessing the lessee’s sales price. Step 3 Compare the residual value to the price in Kelley Blue Book. Look up the price in Kelley Blue Book by model and year. Compare this listed price to the residual value from the lease. Close prices are good deals. Step 4 Ask the lessee to buy the car out from the leasing company. For the lessee to buy the car, she needs to have a buyout option in her lease, or
