Please include monthly payment or selling price in the TITLE.
Year, Make, Model, and Trim: 2022 BMW M850 iX Convertible
Location: Boulder, CO
MSRP:
Monthly payment (pre-tax): $877.89
Effective monthly payment (if incentive is provided): $953.78 with tax
Current mileage: 15100
Maturity mileage: 22500
Effective miles per month: 2,466
Maturity date: May 19 2024
MSD due (if any): N/A
Cash due (if any): N/A
Incentive for new lessee (if any): N/A
Financial institution: BMW Financial Services
Transfer fee: $500
Out-of-state transfer allowed (yes/no): Yes
Vehicle condition (accidents, tire wear, etc.), options, and other details: Vehicle is in new condition, no accidents, no smoke, no dings/dents. Barcelona Blue with Cognac Leather interior. Loaded with Bowers & Wilkens, neck warmers, all the driving assistance professional, 360 parking, etc. The only thing I think it doesn’t have are the glass controls. I have the OEM Pirelli run flats with less than 1K miles also available as I took those off when I got the car and put on all seasons.
Hello,
I have 3 months remaining on my current lease. As you can see, this is a super low payment for a 2022. The residual payoff for the car in May is $62,853.30. Next payment is due on Feb 19th. I am seeing if this is an attractive lease takeover for someone who may want to buy the car in May. I’ve only put 15,000 miles in nearly 33 months so very low mileage, always serviced accordingly at BMW. Current situation forces me to consider this course early. Am I crazy? Is this a good opportunity for someone?
Photos: Will find out how to upload and do so shortly.
Someone else can confirm but IIRC bmwfs doesn’t allow lease transfers in last 6 months. Sweet deal though and would have been gone in a flash had you posted prior to the 6 month period.
With a $65Kish buy out plus taxes in your state it would be close. I think the buyer if you go to resell is just someone that wants that exact car, otherwise you might loose out. Try a Carvana trade in value to get a good basis and take their offer if it works. They need 2 months prior to lease end to buy fyi. Good luck!
This may not currently be the case with BMW (others will know more, wait for more informed input than mine) but others have reported getting a lease extension with certain brands for the sole purpose of pushing the maturity date out past the six month window, and then initiating a transfer.
Can extend for couple months without issues, beyond that needs an active order. Two month extension doesn’t do him any good since he’s at 3 month mark.
You can get up to a 6-month extension with BMW FS with proof of a new vehicle order. And that would then allow you to transfer the lease to the assuming party. The assuming party would then have 8-9 months left with the lease (depending on when the transfer ends). Nice little loophole and I’ve seen it done before. Good luck!
Have you personally tried this ? A friend of mine did and the person taken over was rejected due to the existing lease being in extension for an ordered vehicle. Swap is not allowed but selling is allowed.
@All,
Thank you for the interest. As there are only 3 remaining lease payments, I have confirmed with BMWFS that a lease transfer is not possible at this time.
Furthermore, I do not plan to have a car on order, so extending the lease with proof of order number is not going to work, either.
At this point, I plan to ride out the remainder of my lease and then decide what to do.
