Buying someone leased boxster

[peakpro]

I have located a low mileage boxster that is being leased by the seller. The lease period is nearly over.

Since it is low mileage he is hoping to make a profit by buying car at the end of the lease and turning around and selling it.

Are there any downfalls from my end? We would both need to pay tax and of course I would not buy unless he held the title..

anything else?

thanks

[70Sixter]

As far as the car goes, get a pre-purchase inspection. Leased expensive cars that have been cared for are often a goos deal because they normally have been maintained by the book.

It is possible you could both benefit if you get a cars for below book and he gets more than the end-of-lease terms.

Taxes vary by state. No tax on most used cars. I would assume that lessee paid tax at lease start. I'd ask a local who buys or sells in your state.

[Lil bastard]

So long as you get a good PPI and a price which is at or below market, it's just like buying any other used car. Good Luck!

[racer_d]

For a comparison, when I leased an Audi 1.8TQ, the buyout at the end was somewhere around $17. Not suprisingly, this was the bottom of the range listed by places like Edmunds, Cars.com, KBB etc. You don't mention what year, mileage, colors, options etc of the car in question. Check that part first before thinking you will "flip" the car. Consider that Boxsters aren't flying off the shelves right now and Porsche is putting out new lease/dealer incentives to move new cars. One may need to sit on the car for a couple of months or see a paper profit go away.

[peakpro]

Originally Posted by racer_d

For a comparison, when I leased an Audi 1.8TQ, the buyout at the end was somewhere around $17. Not suprisingly, this was the bottom of the range listed by places like Edmunds, Cars.com, KBB etc. You don't mention what year, mileage, colors, options etc of the car in question. Check that part first before thinking you will "flip" the car. Consider that Boxsters aren't flying off the shelves right now and Porsche is putting out new lease/dealer incentives to move new cars. One may need to sit on the car for a couple of months or see a paper profit go away.

thanks...i know what the buyout is...i would offer him 1-2K above that...

below KBB, cars,.com TMV etc,...and much lower than what the dealer would ask once he turns it around...

absolutely true about boxster not moving..i am watching the market in my area very closely and there is no activity...