Lease Buyout Loan for Someone Else’s Lease?

Hi everyone,

I’m very interested in a friend’s Mini JCW lease, but it is unfortunately not transferable as it started as an employee lease. Would I be able to take out a lease buyout loan and payoff his lease to get it transferred into my name? I don’t have the 30 some thousand to buy it outright.

Thanks!

No, you can not buy out his lease. He would need to buy it out and then you could take a used car loan out to purchase it from him.

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