Hi I’m fairly new here and I have been debating my BMW lease from may as I do not love the monthly payments plus the car is not satisfying my needs anymore as I adopted another dog and need a bigger car (they ride with me almost 24/7.) Any opinions on how I should go about this? I have one option that is my relative taking over the lease at the same monthly payments because he loves the car. It’s a 2019 430i gran coupe m sport package. I probably should have found this site before I leased my car but then again live and learn.
Can you please list more about the car such as MSRP and payments as well as mileage allowance.
If you have someone willing to take over I would transfer the lease to them though.
Transferring the lease is going to be the most cost effective option on a 6 month old lease.
Getting your relative to take over the lease is going to be the most cost-effective option.
The other option would be to buy out the lease today and sell the car. You can do this up-front or get a quote from Carvana, Shift, etc. and have one of those companies buy the lease. On a 6-month old BMW, depending on how much you paid at signing, there is a strong likelihood that you will need to pay additional money on top of what the car is worth to get out of the lease.
The msrp was 40,xxx I believe and 10,000 miles a year 36 months. 3k was put down at signing and paying 450 a month.
The only problem with transferring it to my relative is a basically am eating the 3k down I put towards the residual no? Don’t you think the difference would be less between the offer I’d get from Car Max or carvana?
Carvana will give you a price in 2 minutes. Easier to just get the number than to speculate, however, I wouldn’t be surprised at all if the car is a lot more than $3k upside down unless you got a hell of a deal (which at $3k das and $450 a month on a 430i, it doesn’t sound like you did)
You’re probably right
It’s been 2 minutes… What’s the answer from carvana?
Let’s beat around the bush somewhere. Let’s not jump to facts so quickly.
Carvana is offering 31,000… I’m not sure how to check what the pay off would be for the car?
A lot higher than that. Transfer to relative
Yeah guess that’s the plan. Just annoying because it can takes weeks or months it’s up to him whenever he wants to takeover.
Check your MSRP, the gran coupe starting base is over 44k. If you have any options it’s more than that. You’re going to be crazy upside down.
how many dogs do you have that a 430gc isnt big enough? Whats the next move here? a minivan? 7 seat SUV? Its not like you are driving a small fiat 500.
Swapping out of the lease even if it isn’t to your relative is always the easiest way out.
If you put cash down (not just fees and taxes) you can list the car on a site like this or swap a lease and ask to recoup some of the money. But that only works if you had a killer deal. If your deal is average and you aren’t going to beat what it costs to go out and lease one new, then you will have to give up that $3k. You lost more than that the second you drove it off the lot.
Lol pretty funny!
I have two fully grown golden doodles 60 lbs + they don’t like the sedan I can tell. I used to own a Jeep Wrangler when I first moved back to Florida but that car was sold. It’s pretty obvious they are uncomfortable in the car because they literally can’t both sit in the back at the same time… regardless I feel cramped with both of them in that car and they are both on the larger side of the dog scale.
I guess the next move would be an Suv like any 7 seater but I would somehow have to see how I fit in there and try to imagine my two pups because I doubt they’ll let me test drive with those two guys in there lol
If it’s you and 2 dogs only, a 7 seater is extreme overkill imo. A smaller suv should be plenty big for the 3 of you. Then again, it ain’t my money.