Hello. I’m looking to sell my 36mo. leased Jeep Wrangler Sahara(ends Dec. 2022) to my cousin. However, it seems that Chrysler finance doesn’t allow lease transfer. the original plan was to do lease transfer to my cousin and having him buyout at the end-of-term. After a lesson learned that we cannot go that route, we are considering myself buying out early with cash and transferring title to my cousin within 10 days(to avoid double tax). My cousin is planning to get it financed and hand me a check from his bank. I’m curious if the second option myself buying out and transferring title works.
The bank will write the name of who they are releasing the car to on the back - they aren’t giving you a blank title. As an individual (non-dealer) you typically can’t do another reassignment to someone else on that same title. So you need to take the lender released title and get the car titled in your name first before you can reassign it.