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      02-11-2021, 08:29 PM   #1
Mr Friese
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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
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      02-12-2021, 05:24 AM   #2
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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.
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      02-12-2021, 01:16 PM   #3
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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.
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      02-12-2021, 04:51 PM   #4
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swapalease is your best friend
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      02-12-2021, 04:59 PM   #5
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Any bmw dealer with half a brain would take that from you and flip it.
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      02-12-2021, 09:57 PM   #6
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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.
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      02-12-2021, 10:23 PM   #7
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      02-13-2021, 01:38 PM   #8
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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)
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      02-13-2021, 01:59 PM   #9
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There will be people pile up to take over your lease if lease payment is good.
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      03-01-2021, 11:49 PM   #10
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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.
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      03-02-2021, 09:10 AM   #11
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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?
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