Seller tells me the car is on a 'lease-buy'...

Seller tells me the car is on a 'lease-buy'...

A seller has told me her car is on a 'lease-buy' arrangement. Who owns the car - the 'seller' or the leasing company? How do I avoid buying a debt?

Our answer:

Hi Rupert,

We'd be inclined to suggest you walk away from this deal unless the seller can prove to you that they own the car and have the right to sell it on, that they remain responsible for the debt payment and that the car cannot be taken from you if they do not honour payment. 

Shane O'Donoghue

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