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      01-29-2013, 08:05 PM   #1
slowturbo
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Early lease end question

Hey guys,

I currently have a 2011 328xi with a little over a year left on my lease. Some things have changed at work regarding my commute, etc. and I was thinking about financing a CPO'd 135 or 335 so I do not have to worry about mileage or any changes I make to the car (plus more power ). Has anyone given in their leased car early to finance a used car from BMW? Were they forgiving in terms of releasing you from the lease? If so, what deals were you offered. Thanks again for the help. If it does not make financial sense, then I will just keep my car for the duration and buy something once the lease term is over.
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      01-29-2013, 11:20 PM   #2
Jace_91
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They aren't releasing you from your lease you are buying the car based on your remaining payments and purchase option, and then pending the car is worth more that the excess can be put towards the purchase price of a new car.
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      01-29-2013, 11:51 PM   #3
335BBS
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Quote:
Originally Posted by slowturbo View Post
Hey guys,

I currently have a 2011 328xi with a little over a year left on my lease. Some things have changed at work regarding my commute, etc. and I was thinking about financing a CPO'd 135 or 335 so I do not have to worry about mileage or any changes I make to the car (plus more power ). Has anyone given in their leased car early to finance a used car from BMW? Were they forgiving in terms of releasing you from the lease? If so, what deals were you offered. Thanks again for the help. If it does not make financial sense, then I will just keep my car for the duration and buy something once the lease term is over.
You will owe them all remaining payments. Try Leasebusters or equivalent .I just went through this. Couldn't get anyone to assume the lease because BMW keeps discounting cars and offering lower and lower lease rates soicouldnt compete. I tried selling it but BMWs residuals are inflated so car wasn't worth anywhere near ($8,000) what I owed them. You made a commitment to pay for a certain portion of that cars life and they will hold you to it otherwise they will lose large. You may be able to get a month or two out of them but it has to come from somewhere like the discount on new car. Sorry for the bad news.
I always take a four year lease to keep payments down and always manage to qet out after three. This was my first hiccup. I had a 2000 323ci that BMW took back even. 3 series coupes were in high demand.
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      01-30-2013, 04:56 AM   #4
CombatNinja
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You will not like the numbers on getting out of a 2011 328. BMW was subsidizing those leases heavily to move cars prior to the launch of the F30. Buy a $5000 beater to put the miles on, it will wok out better in the end and you can sell the beater for $4000 when you are done.
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      01-30-2013, 08:41 AM   #5
335BBS
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Originally Posted by CombatNinja View Post



You will not like the numbers on getting out of a 2011 328. BMW was subsidizing those leases heavily to move cars prior to the launch of the F30. Buy a $5000 beater to put the miles on, it will wok out better in the end and you can sell the beater for $4000 when you are done.
Thats what I was talking about and thats why OP got such a good deal when he got the car. Good call on the beater. Truth hurts sometimes.
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      01-30-2013, 09:40 AM   #6
Yay-Z
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Why dont you just buy more miles for the lease?
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      01-30-2013, 11:10 AM   #7
CombatNinja
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Also an option but would likely cost more than running a beater. Would be more convenient though. I think you can buy for $0.15/mi early in the lease.
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      01-30-2013, 11:11 AM   #8
Sara504
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I tried getting out of my lease early. It was going to cost me $14k to turn my car in early with all the fees and payments or $10k just to finish out the lease. Which do you think I chose to do lol
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