Selling my lease not an option for me right?

[proxy]

I’m a a bit of newbie and never sold a lease, but I see many people are doing this due to the current market conditions.

I got a 2018 bmw 330e with 35k miles and it’s due to be returned at the end of the month.

When I look in my bmw account, it says Total Lease Payoff: $31,576.14

When I look on the contract, it says Residual Value: $29,100.00

And when I fill out my info on selling sites …
like vroom, (inputting excellent cond) it says "Your price is $25,805"

Would you say this means I shouldn’t waste my time looking into selling? because it looks like I have no equity in this car?

Appreciate your insight hackers!

[HersheySweet]

@proxy

Residual Value: $29,100.00

@proxy

$31,576.14

The second value includes sales tax (I’m pretty sure). Check what BMW dealers are offering you as a trade. Contact a few dealers in the radius you’re willing to drive and send them your info and for bonus points, pics of the car. Get some offers negotiate and see if you can squeeze any value out of your 330e.

@proxy

Would you say this means I shouldn’t waste my time looking into selling? because it looks like I have no equity in this car?

Vroom and Carvana’s algos are wonky at best. So it’s not best to simply one and done. Hit at least a small variety of dealers and online services because if you have equity you can save on lease return costs.

[jeisensc]

You’re looking for

List of Lenders that Allow for Third-Party Buyouts

As used car prices soar, many lessees are finding that their vehicles are worth considerably more than their current payoff amount. Instead of simply returning the vehicle at lease end, you may be able to sell the vehicle to a third party (such as Carvana, Shift, Vroom, and CarMax) for a profit. However, some lenders are making it difficult for consumers to access this “lease equity” by charging a higher lease buyout price to third-party buyers than to consumers, or altogether prohibiting third…

And

California 10 day tax exempt For lease buyout

Hi I have looked thoroughly here and this topic has not been discussed. In CA, you are allowed to payoff your leased car in order to resell it without paying taxes on the payoff IF you can sell it back and to a third party which would need to register the car within ten days of the original leasee recieving the title form the lessor company. BUT YOU HAVE TO MAKE SURE THE CAR IS TRANSFERED TO THE NEW ONWER WITHIN 10 days. Now is the tricky part. What if I payoff the car and sell it to s deal…

But keep in mind only a handful of third parties accept lessor-released titles

List of places to sell or value your car online

For the quickest results: Copy your VIN to your clipboard and just paste it into each site. Quicker than plate lookup. Enter “I own the vehicle” where applicable — you don’t need to get into the details of your lease payoff or loan balance until you’ve eventually chosen one entity to sell to. Use a Google Voice or some other device you can turn off at will. Otherwise your real phone will be bombarded initially. In alphabetical order: Buyer Name Direct Link Review Link AutoCo…

As @HersheySweet mentioned you can sell to a BMW store without first buying the car, but don’t expect them to pay what the third parties will.

[forbs]

Each ‘buyer’ has a sweet car they want. So you went to 1 place? Don’t you know the rule of 3 quotes for anything? Now if all 3 quotes stink, then yes, return or extend your lease.