[Ryan9095]

Is it possible to turn in a lease that has roughly 2 years of payment remaining and upgrade to a higher model BMW? For example, if I traded in my 3series for a 6 series would the dealership make me roll the total amount due into the new lease or are they willing to cut a deal if you upgrade models?

[JasonX4MComp]

Originally Posted by Ryan9095

Is it possible to turn in a lease that has roughly 2 years of payment remaining and upgrade to a higher model BMW? For example, if I traded in my 3series for a 6 series would the dealership make me roll the total amount due into the new lease or are they willing to cut a deal if you upgrade models?

No. You would have to trade it in like any other vehicle or make the rest of your payments to get out of it

[Presario]

Most dealers will buy back a lease in order to get you into a new car, but usually around 3-6 months left on the lease. They only do this because usually the residual value and fair market value for trade-ins are pretty close towards the end of a lease so they'll pay off your car and either auction it or resell the car on their lot.

Your only real option at this stage is to try to sell the car for as much as you can and either pay or pocket the difference with the payoff quote BMW provides for you. Usually the payoff quote is slightly higher than the residual value.

That's why you see people either trying to get people to take over a lease or sell the car for the payoff. In both cases, if you put a lot down, you're kind of out of luck. If you put down multiple security deposits, you can probably negotiate with the new buyer and get some or all of that back.

[bavarianboar]

Originally Posted by Ryan9095

Is it possible to turn in a lease that has roughly 2 years of payment remaining and upgrade to a higher model BMW? For example, if I traded in my 3series for a 6 series would the dealership make me roll the total amount due into the new lease or are they willing to cut a deal if you upgrade models?

Wondering what you are upgrading from to what.

Looks like you have a 2012 328i sportline. Just wondering if there are reasons to upgrade from here. I am debating if I will kick myself later if I am not happy with a 328i and leaning towards a 335i or maybe a 535i (interior quality issues which I personally think are THERE with the new 3 series). Kind of curious, that is all

And you can try sites like swapalease.com in case you did not put too much down, and did not do MSDs during your lease.

[Lafinkel]

Anyone have a positive experience with swapalease or leasetrader sites. You have to pay several hundred dollars to list. I don't know how successful folks are in getting their lease assumed through these services.

[lakerslive2004]

Originally Posted by Lafinkel

Anyone have a positive experience with swapalease or leasetrader sites. You have to pay several hundred dollars to list. I don't know how successful folks are in getting their lease assumed through these services.

You can list your lease swap on Craigslist as well for free.

[snelldogg]

Swaplease is great if you have a friendly monthly payment or are willing to subsidize. I have had a lot of success with them.

[Ryan9095]

Originally Posted by bavarianboar

Wondering what you are upgrading from to what.

Looks like you have a 2012 328i sportline. Just wondering if there are reasons to upgrade from here. I am debating if I will kick myself later if I am not happy with a 328i and leaning towards a 335i or maybe a 535i (interior quality issues which I personally think are THERE with the new 3 series). Kind of curious, that is all

And you can try sites like swapalease.com in case you did not put too much down, and did not do MSDs during your lease.

Bavarian, I actually have no problems with the new 3 series at all. Before the F30 I had an e92 328 coupe. I wanted to order a convertible but during that time the new 3 series was being released (sedan as only option) so I figured I would rather have the newer car. All in all I think the upgraded styling, interior, and fuel efficiency make it a better car for me... I'm very happy with it.

This question was actually about a 5 series. One of my family members did a 3 year lease on a 528i and no longer wants the car so I somehow inherited it. I have no need for it and I'm not a fan of its color combo, plus, I personally don't like 5 series in general. I prefer the smaller, sportier, more nimble 3. I want to upgrade it to a 650 grancoupe so I'm weighing my options.

[metrathon]

Originally Posted by lakerslive2004

You can list your lease swap on Craigslist as well for free.

I took over a lease from Craigslist. And a great deal for that matter

[Ryan9095]

Originally Posted by snelldogg

Swaplease is great if you have a friendly monthly payment or are willing to subsidize. I have had a lot of success with them.

It has a great payment for what it is just high mileage. Thanks for the suggestion I will check them out.

[ZheHbKa]

very bad idea, just like a trade in, you will lose a ton

[BavarianFanatic]

There is no universal answer. It's wholly dependant on the car in question, the dealer involved and the original lease deal. If it's a high demand car or a lease that had a healthy cap reduction it's plausible. Even moreso if you're going to a new car that's a slow mover. I'm not so sure in this case however. Especially if the 5er is high mileage. And the Gran Coupes aren't exactly growing moss in the back lots. At least in my area.

[OC40]

Originally Posted by Ryan9095

It has a great payment for what it is just high mileage. Thanks for the suggestion I will check them out.

You can sell it to Carmax, but it may be "underwater" given the high mileage. I have sold three cars to them over the years (two of them were leases).

[Kabrich]

Originally Posted by OC40

You can sell it to Carmax, but it may be "underwater" given the high mileage. I have sold three cars to them over the years (two of them were leases).

I've tried to sell a lease 3 times over 18 months to CarMax. Finally sold it to an individual for 20% more than CarMax offered the FIRST time - 18 months earlier. 50% more than they offered the last time (though in all fairness, CarMax offered me the same lowball figure that the BMW dealer did on a trade-in).

They want cars they can make a 50% markup on.

[COBodom]

Originally Posted by Ryan9095

Is it possible to turn in a lease that has roughly 2 years of payment remaining and upgrade to a higher model BMW? For example, if I traded in my 3series for a 6 series would the dealership make me roll the total amount due into the new lease or are they willing to cut a deal if you upgrade models?

Unfortunately there really isn't "one size fits all" answer to this question. Two years is definitely pushing it, but it ultimately all depends on two factors:

1. Whether or not you're upside down on a car. The residual vs what the market value of the car is now in its current condition.
2. How desperate the dealer is to make a sale. You would be surprised what you can negotiate at the right time of the year or month especially if you're willing to take what they already have sitting on the lot.

The earliest I've returned a car was after 23 months on a 36th months lease and it was an Audi that a BMW dealer bought from VW Credit.

If I was you I would definitely try. Just email a bunch of your local dealers with this question, but be specific as to what deal and car you're looking for and include the current pay off quote. Otherwise they may tell you to come and talk and that may turn out to be a big waste of time.

Good Luck !

[F32]

Originally Posted by COBodom

The earliest I've returned a car was after 23 months on a 36th months lease and it was an Audi that a BMW dealer bought from VW Credit.

You can thank Audi for that. With Audi's awful residuals on their leases on anything besides a base A4, they have equity in them towards the end giving you some wiggle room. Due to BMW's very aggressive leases (>62% residuals), they are often at or below fair-market at the end of the lease, so you're essentially screwed unless you trade it for another BMW where they will deal.

[COBodom]

Originally Posted by JoeD4

You can thank Audi for that. With Audi's awful residuals on their leases on anything besides a base A4, they have equity in them towards the end giving you some wiggle room. Due to BMW's very aggressive leases (>62% residuals), they are often at or below fair-market at the end of the lease, so you're essentially screwed unless you trade it for another BMW where they will deal.

It was a base A4 premium (not even P+), but BMW dealer really needed a sales at month end and I took what they had on the lot.

I agree though, generally Audi residuals are low and money factors are high compared to BMW.

Monthly payment on my last ~56k B8 S4 was approx. $100 more than what I now pay for 528xi. BMW MSRPs basically mean nothing. These cars just lease for dirt cheap compared to Benz or Audi. That's BMWs business model with their free maintenance and CPO cars that they promote so much.

On a separate note, we are still in July, but BMW no longer has 6 series or 6 GC 2013 (only '14) leases on their site, which makes me think OP may be able to negotiate some good numbers on 2013 left overs.

[Kabrich]

It probably goes without saying, but try it the last few days of the month.

[OC40]

Originally Posted by Kabrich

I've tried to sell a lease 3 times over 18 months to CarMax. Finally sold it to an individual for 20% more than CarMax offered the FIRST time - 18 months earlier. 50% more than they offered the last time (though in all fairness, CarMax offered me the same lowball figure that the BMW dealer did on a trade-in).

They want cars they can make a 50% markup on.

I was under the impression that you have to pay tax on the car if you were to sell it to an individual (i.e. purchase then sell). I agree that Carmax doesn't offer what you can get on a private sale, but it's extremely easy. I arrived, sold my car and left in 45 minutes.

[Kabrich]

Originally Posted by OC40

I was under the impression that you have to pay tax on the car if you were to sell it to an individual (i.e. purchase then sell). I agree that Carmax doesn't offer what you can get on a private sale, but it's extremely easy. I arrived, sold my car and left in 45 minutes.

Correct. I worked a deal with the BMW dealership where they acted as the middleman for a fee and thus I never took "possession" of the title. $6k difference makes up the $595 I paid the dealership to do inspect the vehicle and handle the paperwork for the deal.

[Vectors2final]

The person buying the car pays the taxes. You do not pay taxes twice.

[Kabrich]

Originally Posted by Vectors2final

The person buying the car pays the taxes. You do not pay taxes twice.

You do have to pay taxes twice if you have to purchase the car at the end of the lease and then immediately sell it to another person.

Believe me, I spent days on this, going down to the State of Florida Title/License office and they clearly want their cut every time. I made the point this was double taxation. Made no difference. And no, they cannot just sign the title over to you at the end of the lease if you purchase it - tried that as well.

Nor can they just sell the leased car to the third party - has to be to the lien holder who signed the original lease.

And they cannot sign the lease over to a third party with less than 6 months left on the lease.

I tried everything I could come up with - and paying a dealer to handle it was the only option (and no dealer probably would have wanted to do it if I were not buying another car from them as technically they could be liable if there is a problem).