Trading/breaking lease

Jeffelite · 07-05-2005, 12:45 PM

Hello,

I've tried searching around to see if anyone else has this concern with no luck.

I was curious if it's possible to trade in your current lease for another one. I know you can break it by paying it off etc. Just curious if there was anything out there or you just have to wait....

Thanks in advance,
Jeff

marcus330i · 07-05-2005, 01:13 PM

You can either pay off the balance of the lease, keep the car for the whole term, or have someone assume the lease. BMWFS (if that's who holds your lease financing) has a program whereby a qualified Buyer can assume your lease. COntact BMWFS and they will send you the paperwork. THe process takes about 30 days start to finish....the start time being when you've found someone who wants to assume the lease.

If your payments are reasonable someone might want to assume you lease because it costs them (or you...it's negotiable) $450 in fees to BMWFS. They don't have any other out of pocket costs. The upside for them is the low out of pocket and the shorter than 36 month term. I sold my 5 series this way using autotrader.com but I've heard swapalease.com is a better site for this. Good luck.

andrewlin · 07-05-2005, 05:45 PM

I got out of my E46 lease early when I bought my E90. Basically gave me the trade-in value of the lease and I had to pay the difference of the trade-in value and the pay-off value of the lease.

It worked out of me becuase I would've had to pay huge mileage overage charges if I kept the lease till the end....

07-05-2005, 12:45 PM	#1
Jeffelite Private 7 Rep 75 Posts Drives: 335xi Coupe Join Date: Jul 2005 Location: Sylvania, Ohio iTrader: (0)	Trading/breaking lease Hello, I've tried searching around to see if anyone else has this concern with no luck. I was curious if it's possible to trade in your current lease for another one. I know you can break it by paying it off etc. Just curious if there was anything out there or you just have to wait.... Thanks in advance, Jeff
	Appreciate 0 Tweet Quote

07-05-2005, 01:13 PM	#2
marcus330i Lieutenant 42 Rep 524 Posts Drives: 2006 330i 6spd Join Date: May 2005 Location: Point Loma, California iTrader: (0)	You can either pay off the balance of the lease, keep the car for the whole term, or have someone assume the lease. BMWFS (if that's who holds your lease financing) has a program whereby a qualified Buyer can assume your lease. COntact BMWFS and they will send you the paperwork. THe process takes about 30 days start to finish....the start time being when you've found someone who wants to assume the lease. If your payments are reasonable someone might want to assume you lease because it costs them (or you...it's negotiable) $450 in fees to BMWFS. They don't have any other out of pocket costs. The upside for them is the low out of pocket and the shorter than 36 month term. I sold my 5 series this way using autotrader.com but I've heard swapalease.com is a better site for this. Good luck. __________________ Realtor Mobile: 6spd / Sport / Prem / Navi / ED 3-30-06 73 3.0s/84 528e/90 525i/97 M3 4dr/99 M3 Conv/2001 330i/2004 545i ED/2006 330i ED June 05 You're in control...is there anywhere you want to go ? -------------------------
	Appreciate 0 Quote

07-05-2005, 05:45 PM	#3
andrewlin 2006 E90 330im Sparking Graphite, Black Lthr, Aluminum, Sport, Premium, Manual 0 Rep 15 Posts Drives: 330i E90 Join Date: May 2005 Location: San Francisco iTrader: (0)	I got out of my E46 lease early when I bought my E90. Basically gave me the trade-in value of the lease and I had to pay the difference of the trade-in value and the pay-off value of the lease. It worked out of me becuase I would've had to pay huge mileage overage charges if I kept the lease till the end....
	Appreciate 0 Quote