Current mileage: 3700
Maturity mileage: 30145
Effective miles per month: 818
Maturity date: 10/5/2022
MSD due (if any): 3900. (deposit. BMW will pay you back 4900 at the end of the lease)
Cash due (if any): N/A
Incentive for new lessee (if any): 1000
Financial institution: BMWFS
Transfer fee: 500 to BMW paid from buyer
Out-of-state transfer allowed (yes/no): No
With $1000 incentives, it’s effectively $3.9k down and get 4.9k at the end of the lease.
Vehicle condition (accidents, tire wear, etc.), options, and other details: Less than 3 months, perfect condition. With a set of 19’ A/S3+ tires on the car. Stock tire safely stored with minimal wear, so that you don’t need to worry about tire wear at all. Window tinted as well at 35%. OEM M kidney grill.
The car is great. Fully loaded except the performance summer tire and break.
Really can’t find any complain, it’s luxury, comfort, sporty with nice exterior and interior.
But somehow I just can’t stop thinking about getting a manual car.
Thought I could post here and see if I can swap it out with minimal lost.
I’d say the price is great especially considering how hard it is to get a good deal in WA. Also the extra set of tires and tint which costs me $1500 when I got them last month.
I’m in Seattle and would take it with a straight up lease transfer and cover the BMW fees. In fact, I’ll be heading to BMW Seattle tomorrow morning to look at their M340i stock and if you’re available, and agreeable, we can kick off the transfer by NYE.
just to be clear, MSD is a kind of deposit, and you as a new lease owner would get it back from BMW at the end of the lease.
that’s why I’m asking 4900 upfront, which is not the same as a down payment to the lease.
There is some debate on the refund-ability of MSDs since it is still a security deposit so there are cases where it is not refunded, or reduced. I guess what I’m saying is that it’s not a straight up refund, has an opportunity cost wrt potential market returns lost, and is a personal decision based on one’s budget and goals.
Regardless, are you providing any incentives on your lease assumption offer?
Wrong. The MSDs depend on if you make the payments and keep the car in good condition.
Don’t assume a lease and pay the MSDs if the car is a wreck. That’s your responsibility as the new lessee. In other words, as long as the car is in good condition, the person transferring the lease has no control whether you get the MSDs back at the end.
Don’t try to rationalize this. It’s pure nonsense.
The condition of the vehicle may not always be under my control; things happen. Again, like I mentioned, putting cash in, either as down payment or MSD, is a personal decision made after weighing the risks and rewards. I’m not telling OP what to do, I’m simply providing OP an out.
If you return the car in poor condition even without MSDs involved in the deal, you’ll still be required to pay BMW for the damages. MSDs just make it easier for BMW FS to collect in the event that you do return the car with issues beyond regular wear and tear.
Basically, you don’t want to have $5k tied up for a few years. That’s fine, but asking the seller to virtually give you $5,000 to assume his lease (which has a pretty decent payment for such a high-MSRP car) is absolutely ridiculous.
The condition of the vehicle going forward when you take over the lease is under your control. No one is forcing you to assume a lease of a wrecked vehicle. That’s your responsibility to make sure the vehicle is in good condition when you assume someone’s lease.
You obviously don’t want MSDs, move onto another deal and don’t insult the OP.
No debate. And BMW is among the most lenient with lease end inspections.
Agree with others. Move on if you don’t want to risk MSD. If you want to negotiate a real deal with OP, send a private message and maybe you can work out a reasonable compromise. Given the spec I think this is pretty reasonable, though.
For free MSDs netting an equivalent $500/mo sign and drive on a pretty much brand new $68.7k car… lol I’d take two… if only it wasn’t an Oyster interior and if only I wasn’t on the opposite coast and if only it wasn’t raining and I didn’t already have a car… lol I love this place…
Turning the car in with excess wear and tear is a cost you will have to incur whether BMW holds it from your MSDs, bills you, or you fool yourself into thinking the dealer is eating it on your next deal…
Yea I’m not planning to give up my deposit at this moment, or provide any larger incentives.
Right now I’m mostly toying with the idea to see if I can get out with minimal lost to get a manual car, so if I had to throw a lot of cash to get rid of it then i’d just keep it.
I might consider to reimburse the $500 application fee for serious buyer if things go smoothly.
oh and i know some of you are skeptical about the oyster interior.
I was skeptical at first but it’s really not that hard to keep clean.
Since nowadays leather seats all come with special coating on top of them, so any stain will actually be on the coating instead of going into the leather. All I had to do is to do a wipe with clean water and paper towel once every few weeks and it’s holding up perfectly.
