Hello hackrs,
Car was leased brand new and I’m a year and a few months into payments.
Wanted to inquire on what are my options if I want to get out of my BMW lease early. I’ve fallen on some hardships and it’s an added strain now that I would like to offload. If buying out the lease is not an option, can I sell the lease or jump into another car that’s cheaper monthly? I’m not that well versed on this hence why I’m posting here for some clarity and advice. Thank you in advance.
You can sell/trade-in, but easiest is probably to just transfer it to someone else.
i thought BMW leases don’t allow selling to third party like carmax, carvana
Your best bet would be transferring the lease to someone else - from there either jump into a car that has cheaper monthly payments or the “financial guru” answer would probably be buy a cheap cash car and ride it out until your finances improve
+1 transfer or reach out to bmw dealers/autonation to inquire if they want to buy it
Blazer / Equinox / ZDX
Those are all excellent recommendations
And since you have a late model BMW that is leased we already know you qualify for conquest on the ZDX and conquest and lease incentives on the Equinox and Blazer. You should be in shape to land an excellent deal. Maybe one of those ZDX deals offered by @aronchi in NY
is there a site for lease transfers? or can i do that on this site?
Your best bets would either be Swap a Lease, or posting on the private transfers category of leasehackr
Depending on the model and payment, a lease transfer may require some money out of your pocket as an incentive or some into your pocket from the “buyer”
The former may still be more attractive than the negative equity of a sale to a dealer.
If you provide the details on your current lease it might help with some suggestions. For example, if you have a 330ix with a $700 a month payment that might be problematic. If it is an IX at $700 that would be an easier swap.