Escalade Lease Transfer / Buyout

Ask the Hackrs
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1

I’m in GA and a friend of mine in NY has the end of his Escalade lease coming up. I’d like to buy it, but I believe only he can buy it out since his name is on the lease. Is there any way for me to buy it directly, or does he have to buy it and then sell it to me? If the latter, I assume I will pay taxes twice then? (One to cover what he paid, and then again when I register in GA?)

Thinking out loud, can I do a lease transfer before his lease ends and then buy it out myself? Would that even be an option?

Thanks for any suggestions!

2

If this is a GM financial lease then no transfer is allowed if 6 or less payments remain.

3

Probably want to clarify who is the lessor/bank/leasing company first… that will dictate what’s possible for you.

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4

I believe it’s GM Financial, but I’ll double check. He only has two payments left so I guess it’s too late for a transfer

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