break or trade leased 328i

CheekiTiki · 06-05-2008, 02:01 PM

Oh what a great first thread...

So what kind of pain is it to try to break a lease or trade in a leased car? I have an 07 328i that I got a little over a year ago. I am not coming close to the 12k miles on my lease and in each of the last 3 months the car has been into the dealer for some b.s. problem. Today I am getting a new steering column.

Any info is appreciated!

Regards,
Eric

simpleE92 · 06-05-2008, 02:23 PM

how much u gonna be upside down try to lemon it and not lose alot of money

stooken · 06-05-2008, 02:28 PM

maybe you can try trading in this lease for another bmw lease. reassure them that you aren't breaking the lease to get rid of the car for personal reasons but rather because of issues with the car itself.

if not, then your only way of getting out of the lease w/o being turned upside down is to do a lease transfer. you essentially have someone take over your lease for the remaining months. it's a $100 application fee and $350 transfer fee if approved.

if you sell the car out, expect to lose about $5k on it if not more.

Joonsup · 06-05-2008, 02:55 PM

not sure how common this practice is but depending on how much the market value is on your car, you can "sell" your car back to the dealer. If i am not mistaken it'd be the same as buying out your car at the payoff amount or something and then selling it. But if you go through that process with a dealership you save on the tax or something. My friend did it with his range rover when he wanted to get out of his lease.

but again i believe it all depends on how much your car's market value is, etc..

MrToad · 06-05-2008, 03:53 PM

Quote:

Originally Posted by joonsup

not sure how common this practice is but depending on how much the market value is on your car, you can "sell" your car back to the dealer. If i am not mistaken it'd be the same as buying out your car at the payoff amount or something and then selling it. But if you go through that process with a dealership you save on the tax or something. My friend did it with his range rover when he wanted to get out of his lease.

but again i believe it all depends on how much your car's market value is, etc..

^He'd probably take quite a hit.

PaulBailey@ltbmw · 06-05-2008, 06:24 PM

Quote:

Originally Posted by joonsup

not sure how common this practice is but depending on how much the market value is on your car, you can "sell" your car back to the dealer. If i am not mistaken it'd be the same as buying out your car at the payoff amount or something and then selling it. But if you go through that process with a dealership you save on the tax or something. My friend did it with his range rover when he wanted to get out of his lease.

but again i believe it all depends on how much your car's market value is, etc..

+1
Probably the best advice.
Lease transfer.
Why do you want out though?
335i?

stooken · 06-05-2008, 07:24 PM

Quote:

Originally Posted by joonsup

not sure how common this practice is but depending on how much the market value is on your car, you can "sell" your car back to the dealer. If i am not mistaken it'd be the same as buying out your car at the payoff amount or something and then selling it. But if you go through that process with a dealership you save on the tax or something. My friend did it with his range rover when he wanted to get out of his lease.

but again i believe it all depends on how much your car's market value is, etc..

payoff on my car is almost $38k. market value is $33k.

BMW! · 06-06-2008, 09:44 AM

i too want to get the hell out of m y lease... and upgrade to 335i... but I am stucked..

06-05-2008, 02:01 PM	#1
CheekiTiki Registered 0 Rep 1 Posts Drives: 07 328i Join Date: Jun 2008 Location: 949 iTrader: (0)	break or trade leased 328i Oh what a great first thread... So what kind of pain is it to try to break a lease or trade in a leased car? I have an 07 328i that I got a little over a year ago. I am not coming close to the 12k miles on my lease and in each of the last 3 months the car has been into the dealer for some b.s. problem. Today I am getting a new steering column. Any info is appreciated! Regards, Eric
	Appreciate 0 Tweet Quote

06-05-2008, 02:23 PM	#2
simpleE92 Captain 48 Rep 741 Posts Drives: e92 Join Date: Jan 2008 Location: norcal iTrader: (2)	how much u gonna be upside down try to lemon it and not lose alot of money __________________ 20x10 and 20x8.5 / 285-245 / et 35 all around / rear fenders rolled / 6000k hid headlights / 6000k hid fog lights / GP Thunder cornering lights / Mtec Super White angel eyes / full led interior / led plate lights / h&r sport spings / 2-10 inch kicker L7 / kicker 1500x2 amp / kicker 1000x4 /full dynamat trunk/5% tints all around / ACS Style Roof Spoiler / carbon fiber roundel overlays / led plate lights/ more to come........
	Appreciate 0 Quote

06-05-2008, 02:28 PM	#3
stooken Brigadier General 184 Rep 4,244 Posts Drives: E70 X5 Join Date: Apr 2007 Location: NOR*CAL iTrader: (2)	maybe you can try trading in this lease for another bmw lease. reassure them that you aren't breaking the lease to get rid of the car for personal reasons but rather because of issues with the car itself. if not, then your only way of getting out of the lease w/o being turned upside down is to do a lease transfer. you essentially have someone take over your lease for the remaining months. it's a $100 application fee and $350 transfer fee if approved. if you sell the car out, expect to lose about $5k on it if not more. __________________ 2010 E92 BSM 335i \| M-Sport \| ST Coils \| Linea Corse Lemans \| Cobb AP \| BMS DCI \| Cyba Tips
	Appreciate 0 Quote

06-05-2008, 02:55 PM	#4
Joonsup Lieutenant General 322 Rep 17,316 Posts Drives: E92 M3, E30 325i Join Date: Sep 2007 Location: Bay Area iTrader: (8) Garage List 2008 BMW M3 [9.50]	not sure how common this practice is but depending on how much the market value is on your car, you can "sell" your car back to the dealer. If i am not mistaken it'd be the same as buying out your car at the payoff amount or something and then selling it. But if you go through that process with a dealership you save on the tax or something. My friend did it with his range rover when he wanted to get out of his lease. but again i believe it all depends on how much your car's market value is, etc..
	Appreciate 0 Quote

06-06-2008, 09:44 AM	#8
BMW! Captain 66 Rep 653 Posts Drives: e92 Join Date: May 2008 Location: NY iTrader: (0)	i too want to get the hell out of m y lease... and upgrade to 335i... but I am stucked..
	Appreciate 0 Quote