[idyll]

I know there are a lot of threads about this, but I am looking for confirmation in regards to my #2 question.


I have recently had a job offer in a city where cars are really not necessary and I can get by much better with a bike. Unfortunately, there are two more years left on my 2007 328i lease.




I understand my two options are either:

1) Have someone take over my lease.
I have thought about listing my car on sites like leasetrader.com and swapalease.com. Are there any others? Suggestions?

2) Have the dealership do a buy back on my vehicle.
I remember reading on this forum that dealerships would love to do this right now, due to the economy and how much they will lose when the lease ends and it's time to bring the car back to them. Is this true?

I also put down $4k as a down payment when I got the car (I know, dumb thing to do), and from looking at autotrader.com the cars there are going for a little bit more than my payoff amount, so I suppose there is still some room for the dealership to make money should they resell my car.





Nothing is set in stone yet and I may just end up taking the car with me, so we'll see.. I figured I would see where I stand first.

Thank you for your time.

[!Xoible]

yes those are ur options. trading in will make u lose more money

those sites are good, also list ur car here and on bimmerfest too

[idyll]

Thanks for the tips!

If you were to take a rough guess, how much more? Since I put $4k down and am under the allowed yearly mileage my payoff is a couple thousand less than the KBB value and autotrader.com. Would the stealership still want more from me?

[EDK99]

You can sell the car out right in a private sale. Just make sure you get enough for it to cover the rest of your payments and the buy out price at the end of the lease.

[!Xoible]

stealer ship will try as far as 10k ripp-off. better off selling on ur own

[jay4usc]

try craigslist. I just posted my 2007 MBZ that's also on a lease and just hated it. When BMW had the .9 financing I couldn't pass it up where it was cheaper then my lease and i get to keep the car. So i have a month to either find someone take over my lease or the buy back option. But those are your only two option or someone buys it out right.

[Driver72]

Yes, even if your car is worth $3K more than your payoff, stealerships are crooks and will simply call for your payoff.
They will then probably offer you a grand or two BELOW your payoff, even if your car is worth more and it's value is worth your payoff.

The fact they have access to your payoff just gives the stealerships more leverage to offer you LESS.

They will NEVER just give you a value without knowing what your payoff is, they want to play on your potential desire to get out of the car and your possible willingness to take an even more hit that what your payoff is.

The dealers are such $cumbags in that regard.

The days of "lets look up what the kelleybluebook dealer trade in value is" and offer you that are LONG gone. Now it's just "F the consumer, lets see how low this guy will accept for the car."

Advertise on this and other forums for a private buyer take over of the lease or buyout.

[idyll]

Ouch

Should I not even contact my dealership about a possible buyout? I thought I would be doing them a favor, since the car will be worth so much less than the payoff once it is time to bring it back in in 2 years and they will be taking a huge hit with the way our economy is going.

[thegeneral101]

I used lease trader about a year ago to get out of my lease and everything went perfect, would strongly recommend that website!

[idyll]

Yeah I've heard about a lot of success stories with leasetrader. I checked swapalease.com and the deals there are unbelievable.. I don't know if I can fight that kind of competition. Less than $200 for a 328i coupe? Ow

[PaulBailey@ltbmw]

SwapaLease FTW.
Might also try here, and craigslist

[seanl]

Originally Posted by idyll

Ouch

Should I not even contact my dealership about a possible buyout? I thought I would be doing them a favor, since the car will be worth so much less than the payoff once it is time to bring it back in in 2 years and they will be taking a huge hit with the way our economy is going.

No, don't bother. The dealership doesn't give a shit. BMW FS owns the car, not the dealer, it's not their problem.

Good Luck and try the websites that were recommended

[idyll]

I may have found someone who wants to take over the lease on these forums.. Who do I contact next, my dealership?

[HappyG]

Originally Posted by seanl

BMW FS owns the car, not the dealer, it's not their problem.

Good Luck and try the websites that were recommended

The info you need is in bold...BMWFS may guide you through the process, or take the initiative and google how to transfer a lease. Do your due diligence so YOU don't get screwed. GL.