End BMW lease early - options?

Ask the Hackrs
1

Hi,

I have a 2014 BMW 328i on a 36 mo, 12k mile lease. Lease expires in 10 months.
My payoff: $35,750.17
My residual: $31,759.50

I was reading on a website that there’s an option to actually “sell” my car to any dealer at anytime , thus allowing me to exit the lease early and lease/buy another vehicle.

The website made it seem like it’s much smarter to actually sell the car to the dealer prior to lease and than actually letting your lease expire.

My goal is to end this lease early and upgrade to either a 5 series BMW OR Hyundia/Infinti.

So, wanted to ask some experts here…in my situation, is this really possible? Can I trade in my lease early and get into a new lease without having to add on any extra costs to the new lease ?

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2

I am not sure that going from bmw to hyundai or infinty is an upgrade.

You can try and get someone to assume the lease if you have low payment. How much is your monthly and how many miles left?

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3

Payment is $530/mo including 9% sales tax.

I got 28k miles on the car , 8k miles left and 10 months to go :confused: I doubt this will be a good fit for a lease assumption

I will not go over 36k miles total, I plan to do a lot less driving the next 1-2 months.

Guess My only shot is to trade it in early ?

4

Generally, you can sell a leased car just like you can sell a car you own. Get offers using services like Carmax, Beepi, KBB Instant Offer, etc. to see if it’s worth more than the payoff amount. If it’s worth less, you still have the option of trading it in and rolling the negative equity into your new vehicle.

Not all manufacturers allow you to sell a leased car though.

5

$530 too expensive for a 328 with not enough miles/month. Doubt you will find someone to assume it at that price.

6

I would consider at half the price. But yeah that price is ridiculously high

7

Yeah 530 is for a 5 series not a 3 series. You can get rid of it if you throw in a 2k incentive.

8

My payment was $480/mo including tax on the east coast, jumped to $530/mo in CA ;/

My 328i is fully loaded - but ya, I understand , its not good enough for a lease assumption.

9

@mrkool44 u shipped it across country ?

10

Regardless what you do you are going to be paying a lot to get out of the car. BMW inflates residuals to get a lower payment, I am guessing you are about 5k under water if you go to try to sell it. You can transfer it but you are going to have to throw some money at it. My suggestion is to sit tight for 10 months, but if you need to get out be prepared to pay.

11

I moved and drove the car 2,000 miles :slight_smile:

12

There is a diff. of about 4k. But, I think you’re right either way… I am going to talk to a dealer tomorrow and give him my lease #s …just to see what he says. I suspect he will say what you said, that I will have to pay the 4k out of pocket to get out early.

I def don’t need to get out early, I can easily wait 10 months. I was just thinking maybe there’s a way to get out early and possibly take advantage of some kind of year end deals in NOV/DEC.

13

I’m curious what happened when you spoke to the dealer?

14

I ended up just keeping the car until May 2017.

My lease was set to expire Aug 2017.

I did the BMW 3-month pull ahead and traded in my car and leased a 340i end of May.

I was under 36,000 miles and no damage to the car, so I didn’t have to pay anything to turn it in.

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15

I have a 17 540 and payoff is $48500. Vroom was best offer at $41k. Sucks