I have a 2019 lexus es 350 lease that ends in February 2022. Once the lease ends, my girlfriend would like to purchase the car under her name. How would I go about doing this?
I contacted a Lexus Dealership in Van Nuys, Southern Cali. They stated that I could go into the dealership, end my lease, return the car, and they would do an inspection of the car. Once the inspection is over, my girlfriend could purchase the car from them for the residual value on my lease contract + tax.
Is this accurate?
All input is appreciated, thank you!
Either you return it to the dealer and they sell it to her or you buy it out and then you sell it to her. You’d need to compare pricing between the two options to see which is best. She can’t buy it directly.
Can also try transferring the lease into her name. Then she’ll gain the right to purchase at RV without any shenanigans or middlemen.
I do not believe Lexus Financial Services allows transfers in the last six months of the lease (I could be wrong).
@DuhItzDustin Even though it is your girlfriend, it is good to get everything in contract if you go with buying to sell to her.
Extending the lease could be a solution.
Also, the OP doesn’t need a contract with this GF. Once he grounds the lease his rights and obligations are over (except for any lease/end charges). If she doesn’t follow through it doesn’t affect him at all.
The dealership OTOH could always sell the car to someone else for more. That’s the main risk with the original plan.
That is what I was thinking as well.
I watch too much of this lady…