Selling a Leased car

[HNIC]

Hey all,

any advice on whats involved in selling a leased car?

I'm looking at selling my lease '05 Mazda 3GT to the Girlfriends mother. (2 years left on a 4 year lease)

I'm in AB, she's in NF.

Wondering what's involved with the early termination fees of the lease (if any) and how to avoid paying that Newfie tax on the sale.

Is it true if we sold it now and kept it here in AB for 90 days she wouldn't have to pay tax when she registered it there in NF?

Any advice would be appreciated!

Cheers!

[Kona9]

I believe different dealer lease companies have different policies.

With my X terra I believe there is a few hundred dollar charge to have someone else either buy it or take over the lease. In some cases including mine, I can be held responsible for up to a year if someone else takes ver the lease.

All in all check with your dealer or the Leasing company that works for or with your dealer. They will give you the best point on answers you need.

[teggypimp95]

Instead of asking us, why dont you just pick up the phone and ask the dealer so they can give you the correct answer?

[rc2002]

Where's NF? Newfoundland?

She'll have to pay tax on any vehicle she registers in Newfoundland no matter if it's used or new. We don't have that in Alberta, but they do have it in Newfoundland.

[HNIC]

I'm looking for some people who may have done this similar situation.

I talked to the credit company already.

Also looking for any thoughts on the other part of the question..about taxes.


If you can't add anything useful, why post?

[beatles2]

There is a web site, called lease busters. My boss did that , he took over a lease on a 2 year old car.

[Supa Dexta]

when you register a car back east you pay tax on it, no matter if it's been bought and sold 20 times.. And you can't tell them you only paid 1000$ for a new car, becuase they will either make you get an appraisal, or pay the book value they have for it..