Solutions to sell my leased BMW I5

Ask the Hackrs
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1

All,

Have a question for the experts. I need a bigger car and trying to get out of my I5 lease.

Issue is there is a recall that has no fix yet. Does that eliminate lease transfers?

I got a nice offer from Carvana that dealers (AutoNation) aren’t getting close to. Given the fact that Carvana can’t take leased BMW. If I pay off the lease, how long does BMW take to pass the lien?

Any other ideas I am missing to essentially change the car other than the ones I thought of?

Appreciate the insight.

Thanks all

2

Bear in mind you’ll have to pay sales tax on the buyout and then wait for the title to clear and be sent to you. A lot can happen during that time.

Parts are coming in, reach out to a dealer about getting it done and put it up for transfer.

3

I think you need ask the owner of the car - BMWFS

4

Thanks for the answer. Does the state tax apply to TX too if you pay upfront?

5

Yes, Texas you get double taxed. Up front and again if you decide to buy out vehicle.

6

Yes, You likely got a lender tax credit when you signed your lease however as you’d be the second owner of the car you are subject to the sales tax on the buyout. (Contracted RV%+Payments due less unearned interest and buyout fee)