I got a new 2018 Audi A4 over the past weekend. They gave me a check for the 2 remaining payments on my BMW.
I wanted to return my BMW early rather than keeping it parked in my driveway for 2 months. I’ve done the pre-inspection and had no issues. I’m well below miles.
I’ve reviewed my contract and the early lease end clauses, but not sure which option to choose.
Anyone who has done this before, what’s the best way to handle this? Should I just wait until September?
Congrats on the A4.
Why turn it in early if you are still on the hook for the payments remaining ?
Since the car is owned by BMWFS and you already have the last payments taken care of, keep the car until the lease matures then turn it in.
Remember you will still owe the lease disposition fee after you turn it in.
Maybe contact your dealer and see if they would be interested in buying back the the car so that they can sell it as a CPO and negotiate if the disposition fee can be waived ?
Good suggestions, thank you! I appreciate it.
Because he’s paying insurance on a car he’s not using.
IF, and that’s a big IF they would buy the car, it would automatically waive the disposition fee. No negotiation on that would be needed.
If it were me, I’d drop the car off, see if they’ll buy it, and if not, let them ground it and wait for the bill from BMWFS for the final 2 payments and disposition fee. If you’re not going to use the car, why pay the insurance, and why risk anything potentially happening to it while it’s in your possession, which would require you to repair it before dropping it off. You already said your inspection was good…why let it sit for 2 months and risk anything.
Will Carvana or Carmax take it off your hands? Maybe for what’s owed?
It’s worth checking, but back then, even more than now, BMW inflated their residuals. If I had to guess I’d say it’s worth at least 5,000 less than the residual
Would I have to call the dealer I leased it from to arrange this?
Any BMW dealer will take it back.