I have 2 payments left on my BMW.
I contacted a local dealer and asked him about turning in my car now and leasing another BMW.
I gave him my VIN and mileage. Note, I’m at 35,000 miles. (The lease is a 3 year / 36k mi.)
He says I’m -$2,400 negative equity - So, I would have to pay that or trade it in.
I thought the whole point of the “pull ahead” program was so that I can turn in the lease early ?
Am I missing something?
The residual is already set. You aren’t responsible if the car is upside down. However, as I understand it, BMW offers the program but the local dealer doesn’t have to offer"pull ahead" programs to everyone. They can pick and choose what cars they want to do “pull ahead” programs on, and I’m guessing that’s why he’s telling you that.
First, you have to be sure that there is a pull ahead in effect right now. That is not always the case. IF there is a legitimate pull-ahead program going on right now, there should be no charge to you. That is the point of a pull-ahead program.
However, if you just called out of the blue and asked to turn your car in early, then yes, you would have to cover that negative equity or make the remaining payments (you would obviously want to chose whichever is less).
Pull-ahead programs are usually by invite (that is. you will get a letter in the mail and you have to take that letter in with you to show you are eligible - alternatively, they can sometimes verify by the VIN). Sometimes, there will be blanket pull-ahead programs available too but the key is that a program has to be currently active.
So, are you aware of any pull ahead programs currently being offered?
Yes, I got a letter in mail from BMW with pull ahead details stating 3 months will be waived.
I told the local dealer I got this letter from BMW
He still claims that I have to pay off negative equity and that the 3 payments will apply as "credit " towards negative equity in the car
I.e. If -2k negative equity and pmt $500. I would have to pay $500 out of pocket to cover neg equity.
I said, Are u sure? He said yes, 100%
But, then this seems to defeat the point of pull ahead IF I have to pay for negative equity
That dealer is taking you for a $2400 ride
lol - I’m baffled. This is a Penske owned Dealership.
The person I’m working with is the Internet Manager - so, I’m assuming he knows what he’s talking about. Anyway, no big deal - plenty of BMW dealers in socal
I’m not in a hurry either way
You’re right. Find another dealer.
You can also call BMW directly to confirm. It would also allow you the opportunity to let them know one of their dealers is wasting their marketing dollars. Then go to another dealer anyway. I hate rewarding tactics like these with business.
+1 – dealer is not correctly explaining how pull-ahead works.
typically, well at least with Audi, the pull ahead program waives your remaining payments to what the set payments are. it has nothing to do with your value of the car. the program was made to encourage customers to trade up early.
Quick update:
I leased a new 2017 340i last week and turned in my old 328i to that dealer - did the pull ahead and it waived my last 2 payments.
The dealer did NOT ask me for my payoff value or residual value etc. No questions asked whatsoever.
So, clearly that internet manager at the dealer I mentioned in OP was trying to BS me or knows nothing about pull ahead - he’s been there a long time - so I’m thinking it’s the former.
I’m so tempted to send an email to this guy and tell him what happened and that he was wrong 
Call or email his bosss or GM and tell him you did business at another dealer because that specific employee didn’t know about pull ahead