Coby Wheel
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read

Go Back   BMW M3 and BMW M4 Forum > BMW F80 M3 / F82 M4 Forum > F80 M3 / M4 Pricing, Ordering, European Delivery

Post Reply
 
Thread Tools Search this Thread
      02-11-2021, 08:29 PM   #1
Mr Friese
Private First Class
184
Rep
198
Posts

Drives: 2011 M3
Join Date: Oct 2011
Location: Baltimore

iTrader: (0)

Early Lease Termination on M3cs?

Hello - kind of an interesting one here for you guys. SO I currently have a 2018 M3cs that has roughly 12 months left on the 36 month lease. I love the car and all, but with Covid, I have been switched to full time WFH, so the car is literally just sitting in my garage most of the time (only 4k miles as we speak).

That being the case, would it be worth it (or even feasible) to ask for an early lease termination on the car? My work situation isn't changing anytime soon and by the time we are out of this Covid mess, the car will be due to turn in anyway.

*And yes, I thought about a lease takeover, but honestly, I've been through those before and the hassle and constant stream of requests and scammers just isn't worth it to me.

TIA
Appreciate 0
      02-12-2021, 05:24 AM   #2
carchrism5
Lieutenant Colonel
carchrism5's Avatar
United_States
332
Rep
1,581
Posts

Drives: M2, X3 M40i, 911
Join Date: Jun 2007
Location: NC

iTrader: (3)

I do not believe you can do an outright termination but depending on your original numbers and given your low mileage your current buyout may be similar to what a dealer would pay you for the car. Other options Vroom, Carvana, CarMax, etc but I'm not sure how those do on the CS.
Appreciate 0
      02-12-2021, 01:16 PM   #3
N1rve
Racecar Driver
N1rve's Avatar
No_Country
1273
Rep
1,925
Posts

Drives: BMW M4
Join Date: Mar 2019
Location: Beverly Hills, California

iTrader: (2)

Garage List
2019 BMW M4  [9.63]
There are two options from what I've read:

Option A - Terminate the lease and pay the rest of the lease without you owning the car, which you probably should not do.

"You must pay any past due monthly payments, any official fees and taxes (if applicable in your state), the disposition fee of $350.00, plus applicable sales tax, and the difference of the Adjusted Lease Balance (payoff amount) less the Realized Value (auction sale price or market price offered by BMW Financial Services and agreed upon by you, based upon historical auction results) of the vehicle to satisfy your account. Additionally, you must return your vehicle to an authorized BMW center."

Option B - Trade the car into CarMax/Dealer and pay the difference that the car value is vs your pay off amount.

Example if your car value is 80K, but your pay off is 86K...you need to pay 6K to get rid of the car. The payoff can be seen on your BMWFS account.

This could also be in your favor if your car value is over the payoff, but for my 2019 BMW M4, my payoff and car value is worth the same amount for some odd reason. So technically if I wanted to terminate my lease early, I can just trade it into Carmax.
__________________
N1rve

2019 BMW ///M4 - Alpine White | Sakhir Orange/Black Leather | M-DCT | Executive Package | 19" Black 437M Wheels | Carbon Fiber Trim | Sunroof | Active Blind Spot | Heated Steering Wheel | Adaptive M Suspension
Appreciate 0
      02-12-2021, 04:51 PM   #4
socalbreeze
Obey This
socalbreeze's Avatar
26
Rep
603
Posts

Drives: Audi Etron, G63, 19 NSX, 600LT
Join Date: Sep 2011
Location: OC

iTrader: (4)

swapalease is your best friend
Appreciate 0
      02-12-2021, 04:59 PM   #5
clutchdj
Colonel
1852
Rep
2,383
Posts

Drives: a few cars
Join Date: May 2015
Location: NY

iTrader: (6)

Any bmw dealer with half a brain would take that from you and flip it.
Appreciate 0
      02-12-2021, 09:57 PM   #6
diesel733
Master of one
diesel733's Avatar
United_States
430
Rep
486
Posts

Drives: 2018 BMW M3 ZCP IMOLA RED
Join Date: Aug 2014
Location: Los Angeles

iTrader: (1)

Do swap a lease. It should do well there. If you pay the remaining balance of the lease and turn it in early then you'll save money on the insurance.
Appreciate 0
      02-12-2021, 10:23 PM   #7
itrocks4u
Colonel
United_States
615
Rep
2,418
Posts

Drives: F80, F36, E90
Join Date: Aug 2011
Location: Bay Area

iTrader: (3)

PMd
Appreciate 0
      02-13-2021, 01:38 PM   #8
Maitre_Absolut
Captain
Maitre_Absolut's Avatar
882
Rep
886
Posts

Drives: M3 CS, Audi RS6
Join Date: Jun 2018
Location: Montreal

iTrader: (0)

Quote:
Originally Posted by Mr Friese View Post

*And yes, I thought about a lease takeover, but honestly, I've been through those before and the hassle and constant stream of requests and scammers just isn't worth it to me.

TIA
Did you think you can transfer that headache to someone else for free? No one will sell your car for you without being compensated and assume the risk of being upside down on top of it.

Its simple economics. Either you put in the work to get out clean (lease swap) or pay to get rid of the problem (sell to carmax and assume the loss)
__________________
23 Audi RS6
23 BMW X3 30e Msport
18 M3 CS
17 Porsche Macan GTS
14 Audi S4
Appreciate 0
      02-13-2021, 01:59 PM   #9
guess2098
Major
United_States
515
Rep
1,247
Posts

Drives: 2022 Taycan GTS, 2018 M4, 2016
Join Date: May 2009
Location: Rowland Heights, CA

iTrader: (5)

There will be people pile up to take over your lease if lease payment is good.
Appreciate 1
BMWsully162.00
      03-01-2021, 11:49 PM   #10
bsmf8x
Lieutenant Colonel
bsmf8x's Avatar
United_States
777
Rep
1,636
Posts

Drives: F82
Join Date: Jan 2020
Location: NY

iTrader: (1)

My guy, you have 4K miles on the car. The dealership should be paying you to give it back to them. That's an exaggeration but lease termination BS may be waived considering the mileage

Any dealer with half a fuckin brain will tell you they'll take it back for free

Your remaining payments + buyout price is probably lower than the value of the car I assume? If that's the case then I'm right. 62kish buyout + roughly 1k a month payment so 74k is the current buyout of the lease.

I think value would be 76-80k, due to such low mileage.
Appreciate 1
BMWsully162.00
      03-02-2021, 09:10 AM   #11
Maitre_Absolut
Captain
Maitre_Absolut's Avatar
882
Rep
886
Posts

Drives: M3 CS, Audi RS6
Join Date: Jun 2018
Location: Montreal

iTrader: (0)

Quote:
Originally Posted by bsmf8x View Post
My guy, you have 4K miles on the car. The dealership should be paying you to give it back to them. That's an exaggeration but lease termination BS may be waived considering the mileage

Any dealer with half a fuckin brain will tell you they'll take it back for free

Your remaining payments + buyout price is probably lower than the value of the car I assume? If that's the case then I'm right. 62kish buyout + roughly 1k a month payment so 74k is the current buyout of the lease.

I think value would be 76-80k, due to such low mileage.
so youre saying the dealer should be jumping on this car at a cost of 74k with the hopes of selling it for 76k?
__________________
23 Audi RS6
23 BMW X3 30e Msport
18 M3 CS
17 Porsche Macan GTS
14 Audi S4
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 03:23 AM.




f80post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST