Hey guys I have a BMW lease expiring on August 1st, and I’ll only be needing a car for another 12 months.
Should I look for a lease takeover? or what other options are there for getting a car for 12 months.
Thanks!!
Yes check swapalease
I saw in another thread, some people mentioned its better to get a CPO for a year? Can anyone explain this? I’m just trying to get a car for 12 months. Would prefer a BMW, Audi, or a jaguar.
Thanks.
Look at drivecanvas.com
Yo I am / was in very similar situation to you. I looked at a lot of different options and eventually decided to get into a lease transfer of a 2017 Ford Fusion Titanium for 236$ incl. tax from swapalease for 24 months. I actually don’t plan to keep the car around for the full 24 months but probably just initiate another transfer in 12 months or so. Good thing with Ford is that the transfer fee is just 75$ and also that generally I believe cars with a very low monthly payment are easier to find some transferee. Even if that 236$ is not low enough for a transferee I could easily add some 500 or 1000$ incentive to make it ridiculously cheap.
I also looked at drivecanvas and fair.com but they tend to be more expensive on longer terms like 12 months, but you need to check.
As for getting a CPO one year: That may work out, but you should buy some brand / vehicle which retains its value pretty well. Also depending on which state you live in the tax situation might make a short term purchase and sale unfavorable. I for example live in california and you gotta pay the tax on a car here for every transaction (“Use Tax”) so the moment you buy a car the tax becomes immediately a fully sunken cost that cannot be recovered during a sale, because they next party will have to pay the tax another time. E.g. on a 30k CPO I would have to pay 8.5% tax = 2550$ which is almost what I pay for the lease of the ford for an entire year. So if you sell the car after a year you will only get back: purchase price - tax loss - deprecation - gap between purchasing from a dealer vs private party.
I actually almost bought a fully loaded Mazda3 2017 Grand Touring at 2k miles for 19800$ + tax (MSRP 27700) from a Mini dealer, which was waaay below KBB and I think that would have turned out to be cheaper at the end of the year (vs the ford lease), but I got very bothered by the road noise of that car on the bumpy norcal freeways. However generally speaking if you find something extremely below KBB and from a brand that keeps its value well, it might be a good option to purchase instead. Usually you get good deals at off-brand dealers (in my case the mazda was a trade-in at a Mini dealership).
I have a 2016 BMW X5 lease expiring Dec 2018… you can extend it for another 3mths and a 2016 Lexus IS300 lease expiring 2/19.
If you want more info pm me.
what’s the monthly on the lexus?
sent u a pm…2020202
I have this still available
Where are you located at? I’m considering taking over a 2016 Mini Countryman for $260 a month after taxes. Transfer fee and July payments being taking care from the person wanting to swap out the lease. Formal lease contract expires AUG2019. My lease ends in AUG (end of AUG) and the car is available now (being stored by a broker in Los Angeles) and I can take ownership anytime (I was told the swap transfer paperwork takes 2-3 weeks and I don’t want to insure the car until I drive - AUG). So not 100% sure I’m gonna swap. The mini (never drove one) is white exterior and black leather interior. Only about 11K miles left on lease too.
Check this out.
This one has ~19 months left on the lease.