Bad lease, need help!

Hello all, first post here. Recently found this site and have begun to educate myself on the forums. Unfortunately I did not find this place before I got the cars I currently have because from what I’ve learned, I’m assuming they are both very bad leases. One is a bmw 428i that is 745/m and the other is a mazda cx-5 that is 365 a month. Both of these leases are up in August of this year. I’m wondering what options I have, is it possible to get out of the lease early? Or would you guys suggest something else. Thanks for help.

This late in the game, you probably need to ride it til the end or start looking into pull ahead programs. Have you started getting pull ahead communications yet? AFAIK in the past BMW has offered 3-6 months prior to lease end. Keep in mind pull ahead will only apply to you if you want to lease again.

Get your payoff. Get your cars appraised. If their appraisal is close to the payoffs then you can get out

I do want to lease again. Haven’t heard anything about either car about any sort of pull ahead program.

How do I get my payoff and cars appraised? Is that something I can do at the dealership or should I go somewhere else? I’m assuming I would owe whatever the appraisal - the payoff would be?

I don’t have experience w/pull aheads, but I think a lot of those programs ended end of year. As the user above mentioned, you can get an appraisal to see what the buy out is (for example, Carmax). If you’ve got equity you can buy yourself out. Ie if the value of your vehicle is worth more than the stated residual on your lease contract.

Just checked out my account online, it’s giving me a payoff quote of $37,146.78

So if the vehicle is worth more or equal to your payoff, you have options. If it’s worth less, then you’re going to take a loss by exiting early.

Alright, I’ll take it to carmax and see what they can offer me. Thank you for the replies.

NP! Best of luck :slight_smile: [][][]

I did a quick search on autotrader to see what they are going for and I don’t think it’ll be anywhere close. Most are about 30k or less.

Doesn’t BMW offer 6 months pull ahead?

Yeah… I’m inclined to think that’s generally the case unless you’re under miles. Automakers are pretty good at estimating residuals.

I think you’ll just have to ride it out.

I should be under miles, both cars are ~25k miles right now.

Not sure, I haven’t received anything from them yet. I’ll try contacting them and seeing what they say. The other issue is, I’m not sure I want another bmw, didn’t have a great experience with this one.

There is no BMW pull ahead right now. It ended with the December programs. Widely expected to return at some point, but nothing right now.

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Didn’t realize those type of programs come and go, thanks for the heads up.

Might have to suck it up till both are done!

Yup, that’s the way it’s looking…Damn :frowning:

Maybe the bright side of things is that you discovered this site with time enough to get studied up and prepared so by the time August rolls around you will be armed with enough good tools to get a great deal next time. I think many of us have had things go this way. Drink it all in!