Sale of leased car
 

I recently purchased a car that I was leasing and immediately sold it. I live in Connecticut,the buyer lives in Colorado. The leasing company signed the title over to me and I reassigned it to the buyer. Colorado will not register the car for the buyer. Colorado is insisting that the car be title in my name in CT. Once that is done I can then transfer the title to the new owner in CO. Is this correct? Is there a way around this? I have no big problem with titleing the car in CT, but it takes 45 days to get a new title, which is obviously unfair to the buyer. Any suggestions would be appreciated.

Re: Sale of leased car
 

In Iowa it's called jumping title you can't do it here. https://www.yenko.net/ubbthreads/imag...emlins/eek.gif

Re: Sale of leased car
 

------To my knowledge Im not aware of any state that lets a private person (not a dealer) reassign a title. I dont know what happens with lease cars but it seems as though you might actually be responsible for sales tax (again???) when you go to get the title in your name. I hope not for your sake.........Bill S

Re: Sale of leased car
 

ONLY A REGISTERED AUTO DEALER CAN REASSIGN TITLES, NOT AN INDIVIDUAL. KP

Re: Sale of leased car
 

Bill, sent you a PM, ive been thru that once before in CT and can help you..

Re: Sale of leased car
 

Chuck, I didn't receive the PM. However, I sold another off lease car to someone in Florida less than a year ago, the same way and that went through. Connecticut even has a title form for subsequent assignment of title. I guess the states want to make sure they get the sales tax money on every non dealer transfer. However the lessor is obligated to collect the sales tax right up front when they sell it to the lessee. So sales tax should be a non issue. In any event thanks for the help. Bill D

Re: Sale of leased car
 

It's best to put the car in your name, and can be done a lot quicker if you actually visit the DMV in person.

Re: Sale of leased car
 

quicker is a relative term when you're talking about the DMV.