hi everyone I have a buddy of mine who has his lease ending in two months. He mentioned to me that I can essentially buy out his car. What is the best recommendation on how to go about that. If I want to finance it through my own credit union does he have to buy out the car first? Or can he just assign it to me and I start paying payments through my union. It’s an M340i @ a great residual!
Only the lessee, not some third party like you, has the right to buy out a lease.
There may be some workaround where he buys the car and then sells it to you, but there probably would be extra sales tax and registration fees incurred.
He will have to buy it out, pay sales tax, etc, and then youll ha e to purchase it from him, pay sales tax, etc