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      01-10-2018, 11:19 AM   #23
Mavus
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OP, trying to help also ...

Have you considered or is it an option for you to purchase it and then sell it or trade it in? Even if you have to pay 2-3 monthly payments you may be better off. The rates are low but the payoff is up there so mo pmt won't be much lower but you may end up saving a good chunk of your incentive to bring the lease pmt down.

GL!
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      01-10-2018, 07:55 PM   #24
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For one, I'd suggest to fix your ad. You should clearly state full leather package and competition package in the list.

I would suggest you check Carmax as well but yeah expect a loss of at least $10k
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      01-10-2018, 09:02 PM   #25
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Holy crap, dude.

No offense but you got crapped on at your dealership.

When I was looking at least deals on 18's last month it was in the 800s for a 78.5k msrp.
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      01-11-2018, 08:33 AM   #26
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^ I thought the point had already been made, no need to kick him while he is down, he needs help...in the form of a buyer or some other means. In the grand scheme of things he's paying ~$300 too much for his lease...all things considered 3,600 a year isn't the worst thing to ever happen to anyone. Perspective is important. Best of luck with the sale, get creative and proactive to minimize your losses.
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      01-11-2018, 08:52 AM   #27
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Thanks Indiana Jones. Appreciate it.
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      01-11-2018, 09:41 AM   #28
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OP, Hope you find a buyer soon. As another posted suggested make sure to list all the options up front in your ad. as it stands right now it's hard to quickly scan and find out it has Comp pack etc. GLWS.
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      01-11-2018, 10:48 AM   #29
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The thing is, you only financed a portion of the vehicle which is why the total payoff vs the value of the car is so off. Also, the lease is so premature that you will be in an inequitable situation for a while.

To answer someone else regard about not putting any money down. The money down on a lease does nothing for the payoff/buyout of the vehicles loan. The money down will only affect the payment on a lease because the payoff/buyout is set by the leasing company/lender which is called residual value or lease end value (LEV). Putting money down on a lease is much different than putting money down on a purchase. He could have paid the lease amount up front and turned in the car after 36 months if he really wanted to. This is called a one-pay lease.

I have many years of dealership sales/leasing experience so I hope you can trust what I am saying is not just pulled out of thin air lol.

Good luck with the sale. You may also try swap-a-lease. I'm not sure if you will have much luck but it's worth a shot. When I sold Mercedes Benz, I had clients that would list their vehicles on there and had success.
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      01-11-2018, 10:55 AM   #30
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Thanks all. It is listed on swapalease.

Last edited by jameshp; 01-11-2018 at 11:01 AM..
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      01-11-2018, 02:29 PM   #31
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GLWS, with 1% rule, payment in the 800-830 range should have been ideal with minimum down.
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      01-11-2018, 09:09 PM   #32
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Didn't know of the 1% rule on car leases, I have heard of the 1% rule for real estate...probably similar. I.E. if a 4 unit building rents out @ 1,000 a door...you could pay 400,000 for the building. I don't adhere to that method, but I have heard of it.
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      01-11-2018, 10:30 PM   #33
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Quote:
Originally Posted by Indiana Jones View Post
Didn't know of the 1% rule on car leases, I have heard of the 1% rule for real estate...probably similar. I.E. if a 4 unit building rents out @ 1,000 a door...you could pay 400,000 for the building. I don't adhere to that method, but I have heard of it.
Keep the car and sell it when your buyout equals your value. You are paying someone wayyyyy too much money to take over a car lease.

If you can't afford it go to the dealer and tell them you can afford it and you will probably have to stop making payments on it.
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      01-12-2018, 07:10 AM   #34
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Thanks again all for the help and advice... So you are saying, in 2020, I can sell the car at or near the $51k?
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      01-12-2018, 07:40 PM   #35
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Originally Posted by jameshp View Post
QUESTION...for those of you who have swapped a leased vehicle before, how does it reflect on your credit? Does it show up as paid? AND, once BMW finalizes the transfer, I am FREE of ALL legal responsibilites on the vehicle correct?
It'll look like a complete payoff on your account for the vehicle on your credit; you'll be 100% cleared and no negative effect on your credit!
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      01-16-2018, 12:31 PM   #36
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Quote:
Originally Posted by jameshp View Post
Thanks again all for the help and advice... So you are saying, in 2020, I can sell the car at or near the $51k?
I think there are too many variables to determine what your F80 will be worth. The vehicle market / location for the vehicle at the time of sale will play a factor.

I have a 2015 F80 with an MSRP of 76.4k that I purchased in July of 2014. Back in June of 2017 I went to Car Max and they offered me 51k to purchase my F80 with 13,700 miles on the odometer. This past Nov. (2017) I was at the Porsche dealership looking at a new 2017 911 S, the dealership was taking 10% off the selling price of the 911 and offered me 49k for my F80 (just over 15,000 miles on the odometer). My F80 is a weekend driver hence the low mileage which I also believe helped with the F80 offers I was receiving.

I live in San Diego County (North County) and the market can differ from yours. Good luck with selling your F80.
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      01-16-2018, 01:41 PM   #37
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Quote:
Originally Posted by jameshp View Post
Thanks again all for the help and advice... So you are saying, in 2020, I can sell the car at or near the $51k?
In 2020, your lease will be up and you will just give it back to them. Doesnt matter what its worth.. if the payoff is more than market value, they eat that cost.

7,500 - 10k is WAY too much to give someone to take over your lease IMO.
I'd just keep it until 2020 and give it back when the lease is up.

If you REALLY need to sell it, try waiting a bit longer for the value / payoff to get closer to each-other and then just pay the difference when you trade it in.
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