+1. There are plenty to choose from. GL.

 

My understanding is that PFS will not let the original lessor out of responsibility for the lease. Of coarse he can buy it out and sell it to you, so I'm referring to the lease take over thing. That came from the finance guy at the dealership where I bought. Not sure how true that is but sounded plausible.

 

Don't worry too much about the fact that it is a leased car. I just bought a similar car myself a few months ago that was off someones lease. I've been doing this for a while so you get a good idea of the person being trusty or not. I knew his buyout and we both sent money orders to PFS that day after my prepurchase inspection. I drove the car home that day (without the title) and he mailed me the it to me about 2 weeks later. Just make sure you have a really good sales contract. Price seems fair but you should be able to lower it to $57. Prices have inched up a little in the past few weeks but he definitely is negotiable from the likes of it. IF you like the car, WAIT and let him sweat another lease payment or two before coming back with an offer of $55k.

 

Doc -
It sounds like you both had some type of contract to mail the payments together and people do swap leases
-however there's a risk which isn't there if the seller has a title. Plus you bought the car and didn't assume his lease .

You did well and many do but all it takes is one high risk negative to squash quite a few positive examples . When a person buys a car where the seller has it leased he really is selling his debt and the buyer is helping him cover it . In your case the car was loaned with Porsche financial . In the OP's case it's not disclosed in the ad . Who knows how this guy leased the car ? What if he motgaged his home to secure a car loan and is sitting in debt and foreclosure ? Who knows ? Times are tough and too many things are not disclosed .


I hope it works out for him and I do admit that I have never gone this route fearing rip off.

 

I agree with you Larry. Your senario would hold true with someone who bought their car and does not have the title on hand and cleared. But if the car is leased through Porsche FS, then he can't secure a second loan on the vehicle as no other institution would loan against a leased car. I actually find it easier to purchase a car through someone leasing it through the car company as the transfer is alot more straight forward and standard. If it gets leased through supplemental institutions like some banks, etc. then the transfer can hit a few snags.
Like I said, you need a good contract and a good feeling. There are many good deals to be had out there and if you are careful, you can land some real gems.

 

thanks for input guys...not gona do it. thx