I’m starting to look for my next lease coming from a 2018 Subaru Outback that is due for turn-in towards the end of May. I’m interested in a 2021 BMW X3 M40i loaner. In order to receive the Conquest incentive from BMW, what is the typical/best way to exit my current Subaru lease? Do I have to absorb payments on both cars for several months?
Thank you in advance.
In order to end your lease early, you would either a) have someone else assume your lease or b) have someone buyout the lease.
Lease Assumption:
Many brands will allow you to transfer out of your lease and assign it to someone else after paying a lease transfer fee and submitting required documentation. Those brands include BMW, Lexus etc.
Some brands will not allow lease transfers at all such as Honda, Mazda, Volvo, Jaguar, Hyundai etc.
A select few brands, such as Audi or Infiniti, allow lease transfers, but keep the original leasee liable. It is generally not recommended to do a transfer as you would remain liable for the car after transfer.
There are some other restrictions that can affect your ability to do a transfer such as remaining months on the lease and regional restrictions. It is best to check with your leasing company by calling them directly.
Once you decide you want to transfer out of your lease, you can post your car for free under LH’s private transfer section:
Alternatively, you can list your car for a fee with www.swapalease.com or www.leasetrader.com which are two large lease transfer marketplaces that have a large user base of people actively looking to assume leases.
Lease Buyout:
You can have a third party buyout the car. In order to do that, you would call your leasing company and get the current “dealer payoff quote” which is the amount of money needed right now to payoff your car which will satisfy your lease agreement. Once you have that number you can take your car to your local Carmax and see what they would offer to buy your car. If the amount is near or above your dealer payoff quote, then you can sell it to them and you would be out of the lease. Alternatively, you can get an online quote from vroom.com or carvana.com who will give you an instant online offer. If you accept the offer, they would come and pick up the car from you and pay you on the spot. Ideally you would get a quote from all sources as they may vary significantly. For more information, please see forum discussions:
For additional information, make sure to check out Leasehacking 101: How to End Your Lease Early
@Kctham18 thank you for the reply. I had a quote from carvana fairly recently and it was a bit above what my payoff amount on my lease is. If I went that route, would I need to wait until AFTER I lease the X3 in order to get the conquest incentive? If so, would BMW consider my current Subaru lease payment in the DTI ratio?
There is currently no conquest, hope that changes 
@AutoCompanion ah, you are right. I’m not sure why I thought conquest incentive was active. I guess I’ll just have to settle for Lease Cash and PenFed.
Just wait.
Also, just to be clear, you don’t even need another car to qualify for BMW conquest. So you don’t have to worry about signing for a new car before you turn in your existing lease, or anything like that.
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