Tips on Buying Cars: lease buyout

Question
Hi Steve,

I'm in the process of buying out the lease on my car. I went to a Honda dealership and started the process. They are at the stage of tranferring the title. However, since I met with them, I've found out that the interest rate they're giving me is quite poor and I've found a much better rate. I haven't signed anything in terms of the actual loan, but like I said they are in the process of transferring the title. Am I locked into this transaction or do I have any recourse?

Thanks,

Peg

Answer
Hi Peg,
Not sure, but what sage are you at??? I would call the leasing company and ask them if you can use your own financing, they should let you, but other than that I do not know what docs you have signed. Let  me know and if you have any other questions. Good luck in your purchase.


Steve