Lease transfer question

[s2kroma]

I found a great deal on the lease transfer but have a few questions. The person who's selling their BMW have only 1 year lease left. Also, they are giving me an incentive of a good amount of money and paying for the transfer fee which is around $500. Lots of miles left on the lease as well. They also have the BMW Safe Lease on the vehicle.

1. Can I use incentive money to put down towards the lease left on the BMW to lower the 12 payments on the vehicle?
2. Anything else should I be asking the seller for?

Not sure what other questions I might have at this point. This will be my first lease and any help from you all will be greatly appreciated. Thanks in advance.

[///Mperative]

1. No. The lease payment is set in stone. It cannot be changed at this point. You can pocket the money and use it to defray your costs over time. But if the lease payment is $800, you can't lower it to $750 by prepaying (for example).

2. Mechanical condition? Any mods? Has the car been tracked at all? Any body work done? Accidents? Maintenance history?

What are the specifics of the deal?

Just keep in mind you will become responsible for anything he has done to the car in the past when it comes time to turn it in to BMWFS.

[s2kroma]

Originally Posted by ///Mperative

1. No. The lease payment is set in stone. It cannot be changed at this point. You can pocket the money and use it to defray your costs over time. But if the lease payment is $800, you can't lower it to $750 by prepaying (for example).

2. Mechanical condition? Any mods? Has the car been tracked at all? Any body work done? Accidents? Maintenance history?

What are the specifics of the deal?

Just keep in mind you will become responsible for anything he has done to the car in the past when it comes time to turn it in to BMWFS.

Their current payment is well above $600. He is giving an incentive $3000 in cash plus paying the transfer fee. There is only 12 payments left on the lease and about 30k miles still available.

[///Mperative]

Originally Posted by s2kroma

Their current payment is well above $600. He is giving an incentive $3000 in cash plus paying the transfer fee. There is only 12 payments left on the lease and about 30k miles still available.

Year, make and model? Options?

[s2kroma]

Originally Posted by ///Mperative

Year, make and model? Options?

2012 135i fully loaded, got 15k miles now. Residual is little over $28k

[///Mperative]

I really have no idea what a good lease rate is on that car. BUT, it doesn't sound like a bad deal overall.