[BMerDRMer]

Intrigued with new coupe and convertible ....... 6 months into 3 year lease .. anyone done a swap through BMW finance .........say at 18 months or 2 years ...... how did the economics work out?

[Kuma]

Originally Posted by BMerDRMer

Intrigued with new coupe and convertible ....... 6 months into 3 year lease .. anyone done a swap through BMW finance .........say at 18 months or 2 years ...... how did the economics work out?

Go to your BMW Owners Circle, click the BMW Financial services Link, and click on the payoff button, that will give you the current payoff on the car. It would work like any other trade in, you would just have to roll some of the negative equity from the payoff vs. value of the car in to the new loan.

The only restriction BMW FS puts on their lease is that you have to make 3 payments before you can refinance/change to a purchase/trade the car in. Never just leave the car at the dealer and give it back before the lease term is over, that would be considered a voluntary reposession. You need to be sure they are doing a payoff of the current lease and then rolling whatever negative equity in to the new loan, or out of your pocket via a large down payment.

[ToddPhilly]

I assumed a lease through BMW financial. Overall the process was very easy. A couple rounds of paperwork, and I picked up the car. I think they charge around $200 or so for the transfer, but all-in-all very straightforward process. You can call BMW financial and they can explain the whole process to you.

[BMerDRMer]

Originally Posted by ToddPhilly

I assumed a lease through BMW financial. Overall the process was very easy. A couple rounds of paperwork, and I picked up the car. I think they charge around $200 or so for the transfer, but all-in-all very straightforward process. You can call BMW financial and they can explain the whole process to you.

Todd ........ you were on the buying end ........ I am on the selling end ...... I know I don't want to do this now (6 months in on a 3year lease) ...... but I might be willing to spend a little extra at 18 to 24 months in to the lease . 18 months will ine up pretty well with 335 Convert Availability ......... wish I would have done the two year plan!

[Jay_328]

Originally Posted by BMerDRMer

Todd ........ you were on the buying end ........ I am on the selling end ...... I know I don't want to do this now (6 months in on a 3year lease) ...... but I might be willing to spend a little extra at 18 to 24 months in to the lease . 18 months will ine up pretty well with 335 Convert Availability ......... wish I would have done the two year plan!

Kuma posted a great response so follow his suggestion. It'll go down just like any other car you may consider to trade in. Just get all the facts and figures before hand and you'll likely not to be taken for a big lost.

[MoreCowbell]

swapalease.com

[BMerDRMer]

Originally Posted by gluck75

swapalease.com

Heh Gluck ........ have you taken a look at dealer trade / rollover approach ....... how far in are you to your lease ......?

[MoreCowbell]

Haven't done it yet. Won't get serious until the 335i hits the showroom or at least until we know pricing.

Paying $454, i'm certain I will have many people jump at it...I have 2500 miles on it(17500 remaining). Lease is over 3/08.

[SpiralEx]

Originally Posted by gluck75

Haven't done it yet. Won't get serious until the 335i hits the showroom or at least until we know pricing.

Paying $454, i'm certain I will have many people jump at it...I have 2500 miles on it(17500 remaining). Lease is over 3/08.

I traded my 2004 Audi using leasetrader.com

Cost $150 in service charges and I was out of it.

[ToddPhilly]

Originally Posted by BMerDRMer

Todd ........ you were on the buying end ........ I am on the selling end ...... I know I don't want to do this now (6 months in on a 3year lease) ...... but I might be willing to spend a little extra at 18 to 24 months in to the lease . 18 months will ine up pretty well with 335 Convert Availability ......... wish I would have done the two year plan!

Yes I understand. I 'sold' a lease on my MB SLK230 a while back. That process was also similar to BMWs. The bottom line comes to this...

If you have a good deal on your current lease, chances are somebody else will be willing to assume that lease. If you didn't get the best lease deal, then you are going to have to offer an incentive to the buyer to take your car. For example, if you offer $2000 to somebody to take over your lease, and you have 20 months left on your lease, you've effectively reduced their monthly lease payment by $100/mo. You've turned a bad lease deal into a good one. I would highly recommend swapalease.com or leasetrader.com. It couldn't hurt to put a classified ad up on the BMW forums as well. Good luck!!!

[MoreCowbell]

Originally Posted by ToddPhilly

Yes I understand. I 'sold' a lease on my MB SLK230 a while back. That process was also similar to BMWs. The bottom line comes to this...

If you have a good deal on your current lease, chances are somebody else will be willing to assume that lease. If you didn't get the best lease deal, then you are going to have to offer an incentive to the buyer to take your car. For example, if you offer $2000 to somebody to take over your lease, and you have 20 months left on your lease, you've effectively reduced their monthly lease payment by $100/mo. You've turned a bad lease deal into a good one. I would highly recommend swapalease.com or leasetrader.com. It couldn't hurt to put a classified ad up on the BMW forums as well. Good luck!!!

Well Said.