I have a 2019 330i xDrive, 28k miles. The lease is due April 2023, and 6700 miles left.
In a month or two, I won’t need it any more and am trying to see what’s my best option.
Based on my quick reading, available options are:
(a) early termination through bmw financial.
(b) lease buyout at dealer.
(c) lease buyout through equityhackr.
(d) pay off, then sell.
I get the sense that (a) or (b) is less ideal in terms of money.
I’m not familiar with (c) and feel a bit nervous about legality.
I probably don’t want (d) b/c too much hassle.
Could someone offer any advice?
Thanks in advance.
Get offers from multiple BMW dealers as well as any conglomerate that owns BMW dealerships (therefore can process the payoff to BMWFS), such as:
Brokers in the LH marketplace whose BMW dealer partners can buy leased BMWs.
Option A is going to involve you writing a fairly sizeable check to BMW.
Assuming you have even a little bit of equity, option B is going to involve a BMW dealer writing a check to you.
Option A should be your last resort. As max mentioned get offers from multiple dealers and sell to the highest bidder.
If payment is good, lease transfer can be an option.
Only 6200 miles left … so basically 600 a month . It’s not a lot.
isn’t B and C [Sell Lease To]? Not Lease Buyout, that’s D
New transferee might not drive a lot or OP can also offer incentive to prepay for more miles if needed to get out of this.
There is also lease transfer, as mentioned, and that should be your first option to explore and/or cash in on your equity.