Chase Bank and getting out of the lease?

Hey guys, super new on here. About a year ago I leased a new car through a Jaguar dealership which uses Chase Financial (the biggest mistake was not knowing Chase don’t allow lease transfers).

EDIT: The car is a 2016 Jaguar F-Type R. 110k sticker. 998 a month. 0 down. 0 due at signing. Located in Oregon (sales tax exempt)

The payment was great (which is why I thought it’d be an easy lease transfer). Mileage is being kept on track. Car is great and fun to drive. I love it.

Now the problem is this; I’ve recently been stumbling on cars that I would much rather have than my current one.

Chase Bank does NOT allow transfers. I also read somewhere I CANNOT sell it privately with an active lease either aka. I have to pay it off (via finance locally, I can’t afford to pay it cash) then sell it to someone or trade in to a dealership (which will cost me).

I got another 2 years and 21k miles left. No damage on the car, got a VERY good deal on it, so I’m very close to my payoff amount if I can find a buyer willing to pony up for it according to and KBB.

What would you guys do in my position?

Where are you located and what type of car?

Find someone who wants to pay cash and just transfer the title to him.

That’s a really good reason to break your lease after one year :slight_smile:


If you or someone buys it out right you’re probably gonna have to pay sales tax that you won’t recoup. Just something to keep in mind, unless you’re in a state that collects all sales tax upfront. If I were in your shoes I would either keep the car or find a friend/family member that wants to take over the lease and have them make payments and get insurance with both of you listed on there. Since even if you transfer the lease you’re still liable for it, doesn’t make much of a difference.

OP have you gotten any trade quotes from dealerships which would be able to sell/lease you a new car of your choice?

A lessee does not own the car and therefore has no title. You would have to buy the car (which incurs sales tax in most states) in order to get title and subsequently sell it.

I was saying when he gets paid the cash then pay off the car and get the title. Then he can give it to the next person.

Does anyone know if Maserati Capital is bound by the same rules since they are owned and run by Chase Bank?

1 Like

It’s a 2016 Jaguar F-Type R. 110k sticker. Im paying 998 a month for it, zero down.

Theres no sales tax in my state so selling, wouldnt be too tough.

Ask @sub28, he has been researching how to do this for months

You will most likely have to finish your lease out

What is your buyout? I feel that Jags depreciate reallly fast, so not sure if your buyout is lower than the actual value now.

I saw his posts a little bit ago. Im just surprised they have no easy way out.

MSRP was 110k, i paid 90k.

I owe like 80k on the buyout. Going values are about 79 to 83k for my car.

Unfortunately, aside from a trade, there is no other option of lease transfer. Maybe put the car up for sale and see if there are any takers. Just because Kbb is at 90k doesn’t mean that’s the market price. Could be lower, could be a little higher.

No, I paid 90k out the door… a year ago. My current buyout is 80k. Market value is right there. The issue is, i read i cannot privately sell the car… is that true?

Do I have to first purchase it… then sell it?

If i find a guy to give me 80k today for it. How would I do that sale? Do I get him to pay me first, then I pay the bank… then transfer?

That is correct. Even if someone had 80 k cash to give you today, there will need to be two transactions - one transaction is not gonna do it. You cannot tell Chase to sell the car to a third party :frowning:

In addition, nobody would give you money if you don’t have title. But you could get a contract such that you pay out of your pocket to have title released to you and then passed on to the purchaser who would then give you the 80k. If you want to get fancy, you can even escrow the 80k but that raises the transaction costs :slight_smile:

Yeah I am in the same boat as you. I looked into even buying the vehicle out right and selling it but I would take a pretty big hit. My payments are ~$470 a month so between the hit I would take to buy it out & sell it or just finishing out the lease; the difference is miniscule. If you do find anything, let me know.

And if i get this right let me know, if i choose to buy the car outright… and i go to finance it, my payments would most likely go higher to like 1150 (80k at 84mo), but then I incur the risk of having to keep it in case i dont sell it, as well as if my buyer backs out, I then have a higher monthly payment?

Ugh. My M5 lease transfer at 902 a month was so much easier to deal with.

How would I draw up a contract to have someone pay for it? Lets say a guy comes to me, says he wants my car, gets a loan approved for my car (his bank wouldnt know if its a lease or not would they), how would I faciliate that? Take a loan of my own out, finance it, then sell it to him?

You will have to purchase it in order to title it and be able to sell it, yes.

Finance the purchase and pay off the loan immediately post sale, thus incurring minimal finance charges.

Alright, so my plan is:

Find a buyer.
Make sure he goes through the loan process.
Once approved and i see proof of approval.
Ill get financed, my bank pays Chase financial, I take over payments, then quickly sell.

Sound good? A lot of moving parts. Yeesh.

Would you have to pay tax on the buyout amount too? That’s probably at least another $5k, depending on your tax rate.

No tax rate here luckily.