Can a Lease-Take-Over vehicle be purchased rather than assumed?
Yes. All vehicle lease packages can be paid out prior to the expiry date. In order to determine how much it would cost to buy-out an existing lease, simply call the original lessee and request they call the leasing company for the pre-tax current buy-out of the lease. Upon receipt of the buy-out, you can start the negotiation process with the original lessee. Here a couple of important notes to remember: • You will (in the majority of cases) be actually purchasing the vehicle from the original selling dealership – not the original lessee or the leasing company. • The transaction will be subject to both provincial sales tax and the goods and service tax (PST & GST). • The original selling dealership will always attach an administrative fee to the final selling price in order to be paid for their participation in the transaction. • If the lease buy-out amount exceeds the negotiated selling price; the original lessee must agree to subsidize the net difference between the two amounts. For
Yes. All vehicle lease packages can be paid out prior to the expiry date. In order to determine how much it would cost to buy-out an existing lease, simply call the original lessee and request they call the leasing company for the pre-tax current buy-out of the lease. Upon receipt of the buy-out, you can start the negotiation process with the original lessee. Here a couple of important notes to remember: • You will (in the majority of cases) be actually purchasing the vehicle from the original selling dealership not the original lessee or the leasing company. • The transaction will be subject to both provincial sales tax and the goods and service tax (PST & GST). • The original selling dealership will always attach an administrative fee to the final selling price in order to be paid for their participation in the transaction. • If the lease buy-out amount exceeds the negotiated selling price; the original lessee must agree to subsidize the net difference between the two amounts. For ex
