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      06-06-2012, 08:57 PM   #34
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Quote:
Originally Posted by ri335i View Post
Kind of skimmed this back and forth - but just so no one leaves misinformed, you can most certainly buy and sell a leased vehicle at a price that is negotiable (but likely close to the buy out, eg sale price amortized for payments). I've unwound 2 BMW leases that way - most recently a 2011 X3. Good luck!
Yes, but your post is going to leave others misinformed. You can buy, sell, donate, destroy, a lease vehicle but the point is in order to do any of these, you must FIRST buy the vehicle.

A lease is nothing more than rent payments + option to buy. It is your choice whether or not you want to exercise that option (at the buyout price). And yes that price is also negotiable to a certain degree.

But what OP FAILED TO REALIZE is that he did not retain ANY ownership of this vehicle DURING the lease, which is why he made this thread. He was worried about loss of residual/resale value - but that is one of the benefits of leasing, you aren't stuck with obsolescence. Thus I tried to clear things up for him...


Quote:
Originally Posted by Charleston335 View Post
That makes sense but I do have the option to sell, trade, or buy it...
You can do whatever you want WHEN the car is YOURS. If you want to own the car, you need to BUY it upon lease termination.


Quote:
Originally Posted by Charleston335 View Post
I went over this with the Sales rep a few times and he said I can sell it if I want I just have to make sure I payoff the amount I owe on the car...
Yes, you can sell it after you buy. But why would you buy it just so you can resell it? Presumably you're not going to be able to sell it for higher than what you paid at the dealer (even if this damage history was a non-issue)


Quote:
Originally Posted by Charleston335 View Post
I cant take it to a carmax or another dealer or put it on autotrader and just sell it? Bc that is not what they told me and its not what ive been reading...
Why would you want to sell to Carmax or autotrader? You are not obligated to sell the car since you don't own the car. Just walk away from the lease. And if you think you can profit by buying it from the dealer and reselling, think again.


Quote:
Originally Posted by Charleston335 View Post
Oh ok I was actually talking about getting rid of the car before the lease is up...
What you are suggesting is breaking the lease. You are legally obligated to fulfill the lease.
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