How to Sell a Leased Car - Step by Step Guide

How to Sell a Leased Car - Step by Step Guide

Normally it’s hard to sell a leased car because buying out the lease and any penalties is likely to be more than you’ll get for the vehicle. But if market forces have driven up car prices (like the pandemic-induced car shortage has done), it may be more worth your while than it usually is. Here’s how to sell a leased car in three simple steps:

1. Find out the lease buyout amount and rules: Contact the leasing company and get answers to four questions:
A) Is early lease pay-off an option?
B) Is third-part lease payoff an option?
C) What is the lease payoff amount for you?
D) What is the third-party lease payoff amount?
Ask all four because leasing rules tend to change frequently, and you need to know these answers. Some companies charge extra fees for third-party payoffs, if they’re allowed at all.

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2. Determine your car’s value: If car-buying services and even some dealers are desperate for used cars to put on their lots, you may get more for your car than you expected. Get offers from 4–6. If it’s substantially more than the lease payoff, then you might be in business!

3. Choose wisely when selling: You might think you should just choose the highest offer, but you also want to know who’s going to treat you right, which one will make it fast and convenient for you in terms of handling the details, and son. Read customer reviews as well to make a good choice.

Get a Driveo quote for your leased vehicle! Our quotes are competitive, transparent, and valid for a full 30 days, giving you have time to shop around. When the time comes we handle all the paperwork and details for you, making it super easy to cruise in and cash out!

Driveo - Sell Your Car. Easy, Fast, and Hassle-Free!
Website: https://www.driveo.com/

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