Sell a Leased Car Early in Alberta
If your leased car has equity, you can sell it before the lease ends and pocket the difference. Here's exactly how lease buyouts work in Alberta.
Most Albertans never check their lease buyout number until the final month. That's a mistake. If the market value of your leased car is higher than the buyout (residual + remaining payments + taxes), you have equity — and you can capture it by selling the car before the lease ends instead of just handing it back.
Step 1 — Get your lease buyout quote
Call your finance company (Toyota Financial, Honda Financial, BMW Financial, Ford Credit, RBC, etc.) and ask for a "10-day payoff" or "buyout quote." You want the all-in number including GST. Don't ask the dealer — they're not always allowed to share the same number a third party sees.
Step 2 — Get a real market offer
Use Kamocars (or a similar online cash buyer) to get an actual offer in writing on your specific car. This is the number that matters — not Canadian Black Book retail, not what Kijiji listings ask, not what your neighbour says it's worth.
Step 3 — Do the math
Equity = (Market offer) − (Lease buyout, GST included). If the number is positive, that's cash you can walk away with. If it's negative, you can still sell, but you'll need to cover the gap — or just return the car at end of term.
Step 4 — Close the deal
If you sell to Kamocars, we handle the buyout directly with your lease company, pay them out, and e-transfer you the equity. You sign one Alberta bill of sale and a buyout authorization. Done in a day.
Watch-outs
- · Some captive lenders (notably Toyota Financial and Honda Financial) restrict third-party buyouts — we'll know within minutes if your lender does
- · Excess kilometre and wear charges only apply if you return the car, not if you sell it
- · You typically pay GST on the buyout, but selling for cash to a registered buyer avoids stacking taxes again
Frequently asked
- Can I sell my leased car if I'm only halfway through the term?
- Yes, as long as you (or the buyer) pay out the lease. If there's equity, you keep the difference.
- What if my lender doesn't allow third-party buyouts?
- You can buy the car out yourself, register it in your name, then sell it to us. We'll walk you through it.
- Will I lose my deposit or first-month payment?
- No — your lease account is settled by the buyout. Those amounts are already credited against your remaining balance.
Get a real cash offer in 2 minutes
Trusted business. Fair price. Paid on the spot when we pick up your car.