03-07-2016, 06:28 PM | #1 |
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is this a good lease transfer deal?
thinking about picking up this lease transfer.
$3200 incentive. not sure what other information would be helpful to post... thoughts? also... with the incentive, how can be 100% positive that he will cut me a check once the car is transferred into my name? WBA3C1C52FK123049 MSRP: $50770 2015 bmw 328i msport DAP LP sport auto moonroof heated seats navi with touchpad black kidneys CF interior pack Mileage : 1,400 miles Monthly Payment : $492.91 [ Including lease wear and tear coverage ] Term :36 Contract Start Date :10/29/2015 Contract End Date :10/29/2018 Original Contracted Annual Mileage :10,000 Miles at Inception :25 Original Contract Total Miles :30,000 Total Allowed Miles :30,025 Excess Charge Per Mile :$0.20 Residual : $32,492.80 |
03-07-2016, 09:16 PM | #2 | |
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I guess a good way of looking at the deal is how it compares to leasing a similarly equipped new 2015 328i. This month's 10K/3yr residual is 58% (was 62% in Oct' 2015), money factor .00135 (was .00134) and lease credit $3,000 (was $750 option credit). With an invoice just north of 47K, the lease credit and a dealer eager to clear 2015's off his lot a sales price just north of 40K might attainable. For example, 42K sales price (including doc fee), 6.5% W.A. tax, .00086 (after 7 MSD's) and you're looking at about $438 a month with $925 acquisition fee and 3,6K in security deposits due (to be returned at lease end). That's almost 2K less than the lease take-over, but you still have to pay the acquisition fee and the lease take-over has a $3,200 incentive for a new difference of about 2K in favor of the take-over. Now, you may get an even better sales price and smaller difference in price between the two, but it would require haggling, putting up cash instead of getting cash and driving a car with that awful new-car smell. All in all, if the car seems in good condition with the wear-and-tear thrown in it seems like a pretty decent deal without much effort. |
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03-07-2016, 09:32 PM | #3 |
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Also depends on where this deal is listed. If on swapadeal or leasetrader, then I'm sure he can be held liable. I did a transfer from this forum and when I picked the car up, he had the cash in hand for me. It was a trust and honor thing I guess. I've been on the other end as well where my car has been taken over and I did the same - gave cash upon the pickup of my vehicle.
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03-07-2016, 10:07 PM | #4 | |
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$492 monthly payment does not include WA sales tax. He is actually paying $541(WA sales tax is 9.8%). I will be titling it in Oregon with no sales tax. Does that affect your calculations of how good this deal is?
Sorry, I'm new to leasing... have always purchased my cars in the past. Quote:
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03-07-2016, 10:09 PM | #5 | |
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The deal was listed on swapalease which seems pretty legit. The seller also seems legit, but I am just weary of trusting anyone with that much money.
The $3200 incentive was broken down: $500 lease transfer fee, $540 payment for 5 months($2700) which totals $3200. Quote:
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03-08-2016, 07:48 AM | #6 | |
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As for the transfer of money and 'ownership', after I hack out a deal with a private seller/buyer I go to a local bank for the actual exchange. |
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03-08-2016, 02:47 PM | #7 |
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the general feeling I am getting so far is that this is a fair~good deal.
not a deal that I should absolutely jump up right away. I was thinking that a car with that low of mileage, a fair monthly payment and a $3200 incentive would be considered a great deal since most people pay out of pocket for new leases instead of receiving money? but again, I am new to leasing...so any insight is greatly appreciated. |
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03-08-2016, 03:23 PM | #8 |
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You could ask that he wire the money to you after stage 2 is complete since that means you are approved and just waiting on some paper work on their end? I just completed a lease trade and gave the guy his msd after the assumption was complete so he had to trust me a little there.
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03-08-2016, 04:29 PM | #9 | |
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In terms of practicality, the lease take-over is definitely tempting. Decent price, no up-front expenses and excellent cash flow. Forgot to mention, if this is the base offer for the lease take-over, there is no reason not to negotiate. |
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