Pacfica Hybrid Lease Cosigner buyout?

Ask the Hackrs
1

I ordered a Pacifica hybrid back in April and it’s just now built and shipping to dealer. I do not have lease numbers yet, but it will be sold below MSRP and with the 7500 rebate as a credit to the lease amount (should be the same mechanism all the 4Xe leases). I cant take advantage of the 7500 rebate personally, so I don’t want to buy the vehicle.
Problem is, I don’t really want the vehicle anymore. I figure I can still sign the lease and sell it within a few months to a 3rd party and be able to make some money off it. However, my father has expressed interest in it. What would be the best scenario of having my father purchase this?
I assume the dealer wont sell to him directly (or if they would, they would remove the MSRP discount).

Should I just sign the lease and then have him buy it out as a 3rd party sale? Would it be beneficial to have him cosign on the lease?

Thanks for your thoughts.

2

Just walk in with your dad and say he’s signing or cosigning on this.
Done.

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3

He can’t buy it out as a 3rd party sale. Only dealers can. No one allows 3rd party, private party buy outs.

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4

Thanks! This was the info I was looking for! What if he was a cosigner? Could he buy it out then?

5

can your dad take advantage of the 7500 if he buys it as a co signer? that way you save yourself the acquisition fee + buyout fee

6

If I have him cosign, and he decides he doesn’t want the car, does having a cosigner still allow you to do a 3rd party sale (to a dealer) ?

7

Yes you still will be able to sell, he will most likely have to sign off when you sell

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8

It’s not what you’re planning to do and a different make, but Infiniti prevented me from transferring a lease once because I had a co-signer. Just FYI.

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9

Shouldn’t make any difference on a buy out. Both parties will likely need to sign, but that’s all.

10

Before you jump through any of these hoops with cosigning and what not I would just call the dealer and ask if you could have just your father sign for the van. Tell them you had a family discussion and determined it would be best if he leases it instead of you. It’s not like he’s some stranger off the street.
Worst they can say is no.

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11

I do not think this will work unless he is on the origional order. The dealer needs to sell it to the origional person that ordered the vehicle.

12

Dealers can sell out Special Orders from the originator to 3rd parties. So why do you think this is locked to him?

13

This is true for sold order protection, but it isn’t clear if there has been any msrp change or locked in incentives to require sold order protection.

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14

Why are you and/or your dad taking on such a big financial commitment without certainty that you actually want the car?

Everyone signing a lease needs to be comfortable taking it to the end of the term.

All assumed or theoretical exit plans (transfers, ability to sell to a dealer at personal buyout, etc) can be taken off the table with absolutely no notice by the lessor. Just ask all the people botching and moaning about MBFS two summers ago, just to name one of many examples.

Even without action by the lessor, the market can turn quickly and make any buyout go underwater very quickly.

15

Done. Here is the summary. This order had a guaranteed sales price so it “couldnt” be directly transfered/sold to my dad at the same price.
I did call chrysler capital and they said if i had it leased, that as long as the check came from a bank (i.e. financed), that my dad could buy it out and it would be titled in the banks name… no personal checks or titling to individuals other than those on the lease.
In the end, i asked the dealer if they would sell to my dad, and they said they would. The dealer raised the price by 1500 (still below msrp), and said they couldnt return my 1000 dollar deposit. However, when my dad went in, he asked again if they could return my deposit, and they agreed. So in the end, he got the van for 6 or 7% off MSRP, and i didnt have to lease at an 8.5% rate !

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