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      03-19-2008, 01:17 AM   #25
beefybmer
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Drives: E90
Join Date: Feb 2008
Location: Midwest US

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Quote:
Originally Posted by halfpast3 View Post
Sorry Lassaxi, I think beefybmer did provide a little better explanation on the situation. You both came to the same conclusion, "yes you can get out of your lease and into a new one" but the details are important. The lease is paid off just like a normal retail installment loan and you are left with equity or negative equity based on the trade value the dealer gives you. The word "transfer" is misleading. The original lease is closed/terminated and the inequity gets carried over into the new lease.

Now kiss and make up
No worries. Him smart, me stupid. I hope I or another CA have the opportunity to "TRANSFER" a lease for him. I'll club him like a baby seal! Sorry, that was mean. I don't take advantage of people. I try to help them down the best path and if they choose another I will give them the best information to do so.