I think I know the answer to this, but I thought I’d ask anyway.
I have 12 months left on a BMW I3 REX lease which is a great deal (217/mo with tax, 15k miles left).
I’ve got someone who wants to take it over, but I realized that changing ownership will mean two things:
a) lease insurance of $7500 towards return damages is not transferrable
b) BMW free maintenance may go away
The buyer suggested he’d be willing to sublease from me, which I think is bad because there’s really no upside for me, and plenty of risk if the car is still in my name. But, when you use a service like Turo, isn’t that similar? I’ve been debating just keeping the car for the 12 months and sticking it on Turo but I don’t know that any profit would exceed my insurance costs.
So - is subleasing even possible? Since my insurance company is listed as the lienholder on the title, I don’t even know if it could be done.