getting out of a lease

olcrazy1

olcrazy1

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#1
is it posible to get out of a lease early, like way early?
I have a 2003 330i, 15k miles on it. i leased it for 3 years with 18K per year.
I'm thinking about trying to get out of my lease, can this be done?

This is the deal: I put $3k down, I have a $500 payment for 3 years with 18k miles per year. In June it will be 1 year old, and I have 15K on it now.

I'm not very familuar with how leases work, I'm thinking with the 3k I put down it should soften the blow alittle. Any one know anything about this?
 
X

Xyrium

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I believe you're stuck unless you can get someone to buy out your lease. Do a Google on "how to get out of a lease" and I'm sure you'll find a slew of companies that can take over the task for a fee.

A shame you're giving up such a sweet car. We all have our priorities though. Good luck!
 
sherdog

sherdog

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A buddy of mine tried to do this one as well, you could try and find someone to take over your lease (assuming they qualify and all) and this will get you out of it...your incentive to them could be no money down and just take over the payments....for that kind of car / mileage combination it sounds like a sweet deal...try calling the dealer too and asking them what the procedure is for going about doing something like this...For the most part leases are pretty much locked but there are ways of getting around them...good luck!
 
B

Bryan330i

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You can try "swaplease.com". I also hear that BMW allows a lot of flexibility if you want a new BMW.

Part of the problem you may face is that there are a LOT of 330's in the market and this seems to have caused a price drop. A 2003 with 10,000 miles has a trade-in of about 31,000.00 last time I checked, from a retail sticker of 42,000 just one year ago. This sucks for all of us, buy or lease.
 
Blue

Blue

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about the only way to get your lease forgiven is to trade it on and sign on again with the same dealer (of course it will be easier if you're signing on for more money, longer, etc)
 
D

deutsch100

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You can get out of a lease early, it is easy and done all the time...the catch...$$$

Our last 5 Mercedes were traded in early or sold (all leases). If you trade it for another car, you can just roll most or all of the the difference in money from what the dealer gives you for the car, and what you owe.

If not trading it in, then you sell it to a private party. If your payoff is what you can sell it for, then...you're cool. If your payoff is more than the car is worth, then you just kick in the rest yourself, and mail the check to BMW financial, or whatever bank the car is leased thru.(log on to BMW financial to check payoff, quote is usually good for like 2 weeks). Good Luck!!!!
 
olcrazy1

olcrazy1

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thank guys

I will check out those sites,
if anyone knows anyone in the market for a 330i and may be willing to pick up the lease, please let me know.

The car details are:
2003 330i,
silver exterior, black leather interior,
Zenon headlights, Premium package, and cold weather package.
Absoluty flawless inside and out.
15,125 miles.

I put $3000 down on the lease so my payment is $500.40 per month.
I get 18,000 miles per year for 3 years. The lease is up end of June 2006.
Since this puts car to 54,000, I had dealer write special warrenty througb BMW good through 55,000.

I just want someone to take over and pick up the $500.
With me already putting the $3k down this is a sweet deal for someone who is looking for this car. I will check with BMW and be sure this can be done.
I'll run an add in the local paper also, maybe start a thread for this if I will not get in trouble. I'll read forum rules.

Thaks
 
S

syncsnd

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los angeles
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deutsch100 said:
You can get out of a lease early, it is easy and done all the time...the catch...$$$

If not trading it in, then you sell it to a private party. If your payoff is what you can sell it for, then...you're cool. If your payoff is more than the car is worth, then you just kick in the rest yourself, and mail the check to BMW financial, or whatever bank the car is leased thru.(log on to BMW financial to check payoff, quote is usually good for like 2 weeks). Good Luck!!!!
Click to expand...
Is it possible to sell a leased car? Since the car is owned by BMW financial.
 
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