Lease Buy out in NJ - How long does the process take?

Ask the Hackrs
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1

Hi!
I’m coming out of a lease and I’m considering to buy out and then sell the car to keep the equity. The finance company doesn’t accept 3rd party buyers and considering the dates (end of year) I wonder how long would it take to get complete ownership of the car to be able to sell? And if the change of year could significantly change the quotes that I’m getting today.

The finance company will send the new title in 10 days. After that, how long would it take me to register the car in New Jersey?

I appreciate if someone could share their experience! Thanks!

2

Pretty much every captive except VCFS (Volvo) allows their own dealers to buy out leases and lessees to cash out any equity.

Third party restrictions don’t affect this.

Who’s your lessor?

3

Thanks for your response!
Apologies, what do you mean with “allow cash out any equity”?
My lessor is Honda FS.

4

Take the highest bid from any Honda or Acura dealer or autonation or Carshop or Equityhackr.

You don’t need to own your Honda in order to walk away with a check for equity.

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5

If you do wind up buying it just to sell it, there is no need to register it.

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6

Try RODO and check Driveway too.
Good luck
IMO it doesn’t make sense to buy it and then sell it.

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