Leased a loaner car for spouse last month but her work location has changed and 10k miles per year will not suffice.
MSRP- $43k
Condition - Excellent as good as new( I have had this car for just over 3 weeks)
Exterior color- White
Interior Color- Black
Months left- 23
Current miles- 5,700 miles
Allowed miles - 24,756
Lease end date- 02/20/2021
Monthly Payment- $289 ( including tax)
Down Payment- $300 ( to be paid to me)
MSDs- $2100 ( buyer will pay it to me and will receive it from BMW at the end of the lease)
Location - Central Jersey, NJ
Buyer pays the lease transfer fee.
I paid $140 for the BMW OEM All Weather Mats.
You generally are going to need to ask for your MSD’s from the assuming part up front as well. They will be the ones receiving them back at the end of the lease.
Decent payment, but going to be tough to compete with deals like this. With tax and zero drive off it’s still a cheaper effective monthly rate and only 24 months.
It’s almost the same monthly payment because there is no broker fee here. Also, this could be a great deal for the people who are not eligible for loyalty because for the deal you posted needs loyalty.
I understand but it’s hard to compete with a dealer offer at the same or even similar price point.
Keep in mind the the standard maintenance plan doesn’t transfer to the new person. Also, lease transfers are fine but not always the smoothest process especially since the new lessee would have to wait for the title and go to the DMV (gross) after they are technically responsible for the lease payments, which could take a week or so.
Anyone out of state will have to pay a few hundred bucks for DMV fees including gettting the car retitled and sales tax can get tricky since it’s technically paid upfront in NJ.
You may get hit or two here if you remove the down payment request or definitely put it on SAL. You can get top dollar there’s but also costs you $200 to list it I believe.
I was not aware of this, but it’s a very good point. All the rest of your points are good as well but I’m pointing out this one because it may be lesser known.
Yup, BMW implemented this rule a few years back. Limited impact on a 10K/24M lease but still a few hundred bucks for the 10/20K intervals assuming they are just oil changes.
One other thing is getting paid back for MSDs can limit your audience and people not familiar with the program can be suspect of the whole concept and writing a random person a $2k check with the hope of getting it back 2 years later.
You mean since I pointed out the honest mistake in his ad regarding the incentives which he adjusted?
Since you asked, lets break this down… Looks to be around $325/month with no loyalty and about $1,300 down including his broker fee if you up the MF and drop the acquisition fee. I think yours is now more appealing (if in NJ) since it’s saving someone $40-$50/month, however have to take into account no free maintenance, inability to transfer the lease, trust that you will take care of the car during the transfer process, then wait 1-2 weeks to register the car before they can drive it. You are still essentially asking for $300 down as it’s likely to take anywhere from 1-3 weeks to transfer the lease then wait for the title, and the current month you paid for is underway. You are at $330/month with $0 down if you roll in the bank fee and down payment. Out-of-state would likely add $200-$300 to re-title and register the car. If you have loyalty or live outside of NJ, I likely go with that broker deal as I personally would pay $20-$25/month for the convenience and peace of mind of working with a dealer, and also have access to maintenance and ability to transfer. We can really break it down and include the credit card points earned paying upfronts at the dealer.
Absolutely fair assessment. For someone in NJ without loyalty, my car could be a much better option. Just few points to highlight which are not too important for comparison though.
The MSRP for my car is $42,845
I have put BMW OEM All Weather Mats for $140 which comes with the car
I have stopped driving the car after $5700 miles to keep it a fair deal for the assuming party
If we roll in $500 transfer fee, $300 down and $65 registration, the monthly payment will be $327/month
There is a wait for 1-2 weeks however, the process will be seamless because you don’t even have to go to dealer to sign the documents and you can do it sitting in the comfort of your home.
Good deal… not trying to bust your chops and as you know I would potentially be interested if I didn’t have a couple of months left on my current lease.
Regarding #5, I wouldn’t promote that as an advantage.
The transfer documentation needs to be notarized, so you are leaving your home unless your spouse happens to be one.
This is specific to transferring the lease with BMWF, NOT transferring the registration, which is completely separate. Once the transfer is completed, the new lesse has to request the title to be sent to your local NJ DMV, then go there, fill out the paperwork, wait in line, hope the title was sent as you requested but won’t know until you get to the front of the line, and then you get the your new registration and plate. Until all this happens, technically you are not suppose to drive the car although you are responsible for it legally and the original lessee would take their plates.
I would MUCH rather let the dealer take care of that for me and just send me my plates in the mail and probably why I would pay $20-$30/month premium.
PS - Transfer fee and credit app is $595 combined, not $500.
