Car Exchnage

[Ajenthan]

Hi, 

Can anyone please help me, I have a car under lease agreement and its under my personal usage. Presently i would like to sell it or exchange it.
How can we sell leased vehicles! is there any way that we can swap the leas amongst the buyer, or if i sell it for market price how can i settle remaining sum of lease to the bank. 
Please kindly advice me.

Thanks 

 

Edited August 6, 2019 by Ajenthan

[kush]

You can settle the lease (early settlement), company will give you the amount.

Transfer the lease to your new vehicle (asset change), you can continue the lease as it is with the new vehicle, your leasing company will have to agree on the new vehicle, if the value is more or you remaining leased amount is significantly smaller than the value of the vehicle this should not be an issue.

Do not sell the vehicle with the lease getting in to informal agreements with the buyer to settle the payment monthly for the rest of the period. This could get you in to unwanted issues.