Would bmw let me do this?

o2pb · 10-20-2007, 09:14 PM

I got a 328xi that I leased in august 2007. Now I want the 2008 335xi. Would they let me trade it in, if I wanna sign a new lease contract for a new car?

Any penalties?

Deep 3.2TL · 10-20-2007, 09:21 PM

Anything's possible for the right cash...

Quack · 10-20-2007, 09:26 PM

a customer at my dealer did that, he bought a CLS500 sport package fully loaded, owned it for 3 months & decided he wanted the CLS55 AMG instead, they made him pay a penalty, $14,000 to be exact, to some of these customers that's chump change.

o2pb · 10-20-2007, 09:29 PM

14k? Damn.... **** that....

Quack · 10-20-2007, 09:37 PM

yeah but that's MB, they try to make every penny they can, talk to your sales person where you bought your car, maybe they can help you out.

Deep 3.2TL · 10-20-2007, 09:41 PM

And that's also a car that worth WAY more than a 3 series BMW...

o2pb · 10-20-2007, 10:00 PM

Well, I imagine a penalty is higher if the car is worth more, since you are "wasting" a higher value car.

dtthiaga · 10-21-2007, 11:28 PM

Quote:

Originally Posted by o2pb

I got a 328xi that I leased in august 2007. Now I want the 2008 335xi. Would they let me trade it in, if I wanna sign a new lease contract for a new car?
Any penalties?

Getting out of leased car so soon is harder. Anything is possible, but here is the basic idea.

A) Evaluate the current trade in value of a 2007 328xi with your current mileage. Say value TI

B) Find out from BMW Finance, what the current "buyout" is. It is basically the final purchase price minus the payments you've made so far. Say value BU

C) So, the amount you owe BMW Finance to get out is BU - TI - $500 (transfer fee). Most often, BU-TI –500 would yield a negative value, meaning, you owe them.

Now the fun part. If you are buying a new 2008 335i from the same dealer, you could try to get the dealer to eat the negative value. It all depends on your numbers and your lease.

Don't let them roll the negative value into your new car lease, which they will try to do. Be very careful of that! You basically want a discount close to what you would owe, and you should know what a 335i would cost to lease straight up.

europrince · 10-22-2007, 10:10 AM

there is nothing wrong with the car you have

save your money

jstalin · 10-22-2007, 10:22 AM

You should try leasebusters.com and find someone to takeover your lease instead of paying to return it early

Daddy · 10-22-2007, 12:06 PM

Quote:

Originally Posted by jstalin

You should try leasebusters.com and find someone to takeover your lease instead of paying to return it early

+1

You'd probably need to throw in some cash as an incentive, but hopefully it'll be much lower than your break fee for the lease.

Also, isn't there some sort of continued liability for the original lessor notwithstanding the lease assignment?