In most cases, yes, you can sell a leased car. But you don’t own it yet, so your leasing company decides how the sale can work. Some let an outside buyer pay off the lease directly. Others let only you, or a dealer of their own brand, buy the car. This guide sets out the rules as of October 2026. They change, so always confirm on your own contract.

Why the leasing company decides

When you lease, you pay for the right to use a car for an agreed time and number of miles. The leasing company owns the car. Your contract says whether you can buy it, and the residual value the leasing company set at the start is what you pay if a purchase option is included.

To sell, someone has to pay off the lease, and the leasing company decides who that can be. Handing the car to the wrong buyer can leave you on the hook. Toyota Financial Services, for example, says that returning the car to a third-party dealership is an unauthorized return, and that you remain responsible for the lease until it receives the payoff funds.

The rules by lender, as of October 2026

Toyota and Lexus

A Burbank dealer wrote on October 13, 2026 that Toyota Financial Services and Lexus Financial Services stopped accepting most third-party payoffs from October 1, 2026. It said CarMax, Carvana and dealers of other brands generally can’t buy a Toyota or Lexus lease anymore, while Toyota and Lexus dealers still can. A Leasehackr forum thread from September 2026 reported the same change. Motor1, writing on September 18, 2026, found no announcement of a policy change. Until Toyota confirms it either way, plan for the stricter rule.

Honda and Acura

Since July 2021, Honda Financial Services and Acura Financial Services have let only the lessee or a Honda or Acura dealer buy a leased car. Both appear on a 2026 list of leasing companies whose leases CarMax can’t buy.

BMW

BMW Financial Services stopped third-party purchases in 2021 and appears on the same 2026 list.

Porsche and Mercedes-Benz

Porsche Financial Services and Mercedes-Benz Financial Services have been reported to give outside buyers the same payoff as the lessee, and both appear on a 2026 list of leasing companies whose leases Carvana can buy. Reports are not unanimous, especially for Mercedes-Benz, so check each contract.

Tesla

Tesla began offering buyouts on its US leases in November 2024, with Iowa and Louisiana excluded, and a report at the time said third-party dealerships could buy as well. A 2026 list still puts Tesla among leasing companies whose leases CarMax can’t buy.

If your leasing company says no

You can buy the car out yourself and then sell it to anyone. Count the costs before you do:

• The purchase-option price in your contract, plus any purchase-option fee.

• Sales tax. Almost all states charge sales tax on the purchase price.

• Title and registration fees.

If the car is worth more than the buyout plus these costs, you still come out ahead. If it isn’t, returning the car at the end of the lease may be the better choice.

If your leasing company says yes

The buyer asks the leasing company for a payoff quote, pays it, and pays you the difference. You never have to buy the car yourself, and there is one sale instead of two.

If the car is worth less than the payoff

There is no equity to collect. At the end of the lease you return the car unless your agreement lets you buy it. You may be charged for miles over your limit and for excess wear and damage, so check your contract.

Ending a lease early is usually costly. You may owe an early termination charge, and you can’t simply return the car and stop paying.

Five steps to sell a leased car

1. Find your leasing company on your contract or monthly statement.

2. Ask for a payoff quote, and ask whether it accepts a payoff from an outside buyer.

3. Get an offer for the car.

4. Do the math. Offer minus payoff is your equity. If you must buy the car out first, subtract the tax and fees as well.

5. Pick the route that leaves you the most, or costs you the least.

How Auto Exit handles a lease

Tell us your leasing company when you start. We show you which route applies: we pay off the lease directly where your lender allows it, or you buy the car out first and then sell it to us. Either way, your offer comes in about two minutes, is held for 7 days, and you’re paid by bank transfer at pickup, before the car leaves. There are no fees. We confirm on your contract.