Getting out of a lease early?
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Is it possible to get out of a lease early, without having to pay a major penalty or doing a swap-a-lease, if you're willing to upgrade to a more expensive model at that same dealership?
Anyone go through this when leasing a BMW specifically? Just curious about the process.
Anyone go through this when leasing a BMW specifically? Just curious about the process.
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From: New York und Wien
There?s no process to speak of. You can either buy the car and sell it privately, use swap-a-lease, or have the dealer finance the balance of the old lease alongside the new one.
In any event, you are liable for the entire term of the lease.
The only exception is when BMW has a pull-ahead program, which is rare. I believe a pull-ahead program would only cover 6 months in any event.
In any event, you are liable for the entire term of the lease.
The only exception is when BMW has a pull-ahead program, which is rare. I believe a pull-ahead program would only cover 6 months in any event.
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I replied how in your "My wife totaled/destroyed the car" thread.
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Originally Posted by vegastrashed' post='525176' date='Jan 31 2008, 01:50 AM
I replied how in your "My wife totaled/destroyed the car" thread.
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Originally Posted by C's Bimmer' post='525151' date='Jan 31 2008, 12:51 AM
Is it possible to get out of a lease early, without having to pay a major penalty or doing a swap-a-lease, if you're willing to upgrade to a more expensive model at that same dealership?
Anyone go through this when leasing a BMW specifically? Just curious about the process.
Anyone go through this when leasing a BMW specifically? Just curious about the process.
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From: Vancouver, Canada
Your dealer basically buys out your lease from BMW and gives you the car's trade in value. To the extend that those are similar it's basically a walk away deal. But if you leased for 36 months, no money down, after about 2 years the payout on your lease will be pretty close to the retail value of the car (ie: what they are going for on dealer lots). The dealer is going to give you less then that amount because they need to make money on the car - so that is the hit you take by ending the lease early. If they give you retail for the car then they are just making it up on the pricing of your new car.
You are far better off keeping the car until the end of the lease.
You are far better off keeping the car until the end of the lease.
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Originally Posted by C's Bimmer' post='525151' date='Jan 31 2008, 12:51 AM
Is it possible to get out of a lease early, without having to pay a major penalty or doing a swap-a-lease, if you're willing to upgrade to a more expensive model at that same dealership?
Anyone go through this when leasing a BMW specifically? Just curious about the process.
Anyone go through this when leasing a BMW specifically? Just curious about the process.
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From: Long Island, NY
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My Ride: 2008 Silverstone II E60 M5 2012 E70 AW X5 50i Sport w/ LCI Aero Kit and Rocker Panels
Originally Posted by katheikia' post='525287' date='Jan 31 2008, 09:40 AM
Hey C, What are you up to!?!?!? 
