[Brenanj1]

Have you done it? How? What was equity situation like? Does BMW have promos for this? I have F30 sedan but want M235 or 340i

Feedback appreciated.... Thx!

[Pauleebe]

Originally Posted by Brenanj1

Have you done it? How? What was equity situation like? Does BMW have promos for this? I have F30 sedan but want M235 or 340i

Feedback appreciated.... Thx!

Even if you had a 2014 that you took ownership of right as they were rolling off factory lines, you still would be waiting until February 2016 before a pull ahead offer would become a remote possibility.

As you have a 2015, you have some time to wait. Best options are to sell your lease.

[iconoclast]

i do not lease or finance but from what i understand bmw doesn't allow anything earlier than 6 months. any time within that range you can trade in early.

[Cyberdemon]

The official pull ahead program applies if you have less than 6 months left on your lease, and is only available at certain periods of the year based on BMW's desire to sell more cars.

I was able to trade my F30 in with no negative equity, the dealer bought it outright and got me the new car at a good deal when I was still 9 months out. That was right at the end of the quarter though and my car was in great condition so they were eager to make a sale to meet their quota.

If your car is a 2015 as mentioned you aren't going to have much in the way of equity, so your options would be to take a big hit and roll the negative equity into your new lease (the exact impact would have to be discussed with your dealer) or the more preferable way would be to use a site like Swapalease to get out of your lease. You'll most likely be able to offer a smaller incentive than you would pay to take the negative equity over.

[Brenanj1]

Originally Posted by Cyberdemon

The official pull ahead program applies if you have less than 6 months left on your lease, and is only available at certain periods of the year based on BMW's desire to sell more cars.

I was able to trade my F30 in with no negative equity, the dealer bought it outright and got me the new car at a good deal when I was still 9 months out. That was right at the end of the quarter though and my car was in great condition so they were eager to make a sale to meet their quota.

If your car is a 2015 as mentioned you aren't going to have much in the way of equity, so your options would be to take a big hit and roll the negative equity into your new lease (the exact impact would have to be discussed with your dealer) or the more preferable way would be to use a site like Swapalease to get out of your lease. You'll most likely be able to offer a smaller incentive than you would pay to take the negative equity over.

Thanks for all that. But mine is a 15 with only 7k miles ... Wouldn't that allow them to buy back better?

[Boxtyp3]

You might want to put more info on your lease to get some better answer.

[Bamsterman68]

Originally Posted by Brenanj1

Thanks for all that. But mine is a 15 with only 7k miles ... Wouldn't that allow them to buy back better?

Think of it this way: Why would they want to buy your car back? The 320i is not in demand, or hard to acquire. The new LCI will be out soon. As mentioned, you can trade it in and take a big hit, or transfer your lease to someone willing to take it over.

[Thumper333]

Originally Posted by Brenanj1

Thanks for all that. But mine is a 15 with only 7k miles ... Wouldn't that allow them to buy back better?

No.

Think about it, they would have a 2015 USED on their lot, or they could sell a NEW 2015 model. To make anyone even consider getting a used 2015 over a new one they would have to discount it heavily.....and they are already having to discount the 2015s just to get rid of them with the 2016s on the lot already........which is where your negative equity comes into play.

You agreed to pay a certain amount for the lease term, which included finance costs. When you drove off the lot the car lost value immediately compared to the brand new cars of the identical type.

If anything you are in a WORSE situation than if it were 2 years or so old, because at least then you would have paid off the finance and been eating into the principle and narrowing that gap, not much, but still. Leases are different than purchase finance, but you won't be breaking even most likely.

I did it once, had my 2014 Audi Q5 TDI Prestige for 10 months and was just sick of it. I hate SUVs, got into it because I thought we were going to be taking care of my mother in law and then she kicked cancer's butt and rebounded.

Anyway, made an off hand comment to my dealer when shopping for a different car and ended up trading straight across for the 2015 S4. Not only straight across, but the dealer made my first payment as well. LOL Of course, a Q5 TDI is a vastly different beast than a 320i, demand is higher and I got the feeling someone at the dealership actually wanted mine. Plus there were incentives and loyalty bonuses in play to help with the negative equity.

Swapalease is your best bet, unless you want to spend a ton of money rolling that negative (and then paying additional finance charges) into a new lease.

[Brenanj1]

Originally Posted by Thumper333

No.

Think about it, they would have a 2015 USED on their lot, or they could sell a NEW 2015 model. To make anyone even consider getting a used 2015 over a new one they would have to discount it heavily.....and they are already having to discount the 2015s just to get rid of them with the 2016s on the lot already........which is where your negative equity comes into play.

You agreed to pay a certain amount for the lease term, which included finance costs. When you drove off the lot the car lost value immediately compared to the brand new cars of the identical type.

If anything you are in a WORSE situation than if it were 2 years or so old, because at least then you would have paid off the finance and been eating into the principle and narrowing that gap, not much, but still. Leases are different than purchase finance, but you won't be breaking even most likely.

I did it once, had my 2014 Audi Q5 TDI Prestige for 10 months and was just sick of it. I hate SUVs, got into it because I thought we were going to be taking care of my mother in law and then she kicked cancer's butt and rebounded.

Anyway, made an off hand comment to my dealer when shopping for a different car and ended up trading straight across for the 2015 S4. Not only straight across, but the dealer made my first payment as well. LOL Of course, a Q5 TDI is a vastly different beast than a 320i, demand is higher and I got the feeling someone at the dealership actually wanted mine. Plus there were incentives and loyalty bonuses in play to help with the negative equity.

Swapalease is your best bet, unless you want to spend a ton of money rolling that negative (and then paying additional finance charges) into a new lease.

I have family that works at dealer, so as many favors that could be pulled together would be. I got $4k off from the start when purchasing. I would be looking into either new 235 or CPO 235 once there are some on the lot. I was thinking sooner than later before it was a model year old and had more mileage, either that or wait until really close to the end of the lease. With the great deal that I got, plus a few $k down, plus rebates and family price on the new 235 I figured I might at least get close.

Thanks guys

[Thumper333]

Originally Posted by Brenanj1

I have family that works at dealer, so as many favors that could be pulled together would be. I got $4k off from the start when purchasing. I would be looking into either new 235 or CPO 235 once there are some on the lot. I was thinking sooner than later before it was a model year old and had more mileage, either that or wait until really close to the end of the lease. With the great deal that I got, plus a few $k down, plus rebates and family price on the new 235 I figured I might at least get close.

Thanks guys

Well, yeah, if you got deals and connections, that changes everything man. LOL


As always, the best thing to do is to get off the internet asking random strangers and just walk right up to the dealer and see what they can do for you.

[Brenanj1]

Originally Posted by Thumper333

Well, yeah, if you got deals and connections, that changes everything man. LOL


As always, the best thing to do is to get off the internet asking random strangers and just walk right up to the dealer and see what they can do for you.

My uncle (at the dealership) is out this week, so I figured I'd start getting ideas and figure out how far away I am. Rolling over $2-3k is a lot different then rolling over $10k haha

[BavarianFanatic]

A lease is nothing other than magic financing that only pays for depreciation. Log onto whomever holds your lease and find out what the payoff value is. Then compare that value to the current market/trade-in value of the car. If you're not totally upside down (you probably are) then you could probably make it work. The easiest way to get out of a lease is to flip it over to a conventional loan. There are no limitations/restrictions/penalties with conventional financing so you can do whatever you want with the car.

[BMWrules7]

Originally Posted by Brenanj1

Have you done it? How? What was equity situation like? Does BMW have promos for this? I have F30 sedan but want M235 or 340i

Feedback appreciated.... Thx!

You may actually be in better shape than you might think.

BMW does not punish you if you buyout the leased car early. However, the longer you stay in the lease the worse your position because you are paying for the depreciation and the rental.

Example: if you lease a new car from BMW and the get a payoff quote the next month. You will see that your payoff is darn close to the capitalized cost (re purchase price).

Now, the more payments you make the more your position will drift into a worser state. The payoff will still be reasonable, but when you start adding in your lease payments you've made it don't look so good no more.

What to do?

Call BMW or use their website and get a payoff quote. See if you can find someone willing to pay that amount.

Another option is to find someone to take over your lease.
There are people out there that live off of these deals since they can be stellar.

Let us know what your payoff is. Then we will give you more advice.

[Brenanj1]

Originally Posted by BMWrules7

You may actually be in better shape than you might think.

BMW does not punish you if you buyout the leased car early. However, the longer you stay in the lease the worse your position because you are paying for the depreciation and the rental.

Example: if you lease a new car from BMW and the get a payoff quote the next month. You will see that your payoff is darn close to the capitalized cost (re purchase price).

Now, the more payments you make the more your position will drift into a worser state. The payoff will still be reasonable, but when you start adding in your lease payments you've made it don't look so good no more.

What to do?

Call BMW or use their website and get a payoff quote. See if you can find someone willing to pay that amount.

Another option is to find someone to take over your lease.
There are people out there that live off of these deals since they can be stellar.

Let us know what your payoff is. Then we will give you more advice.

Thanks. Got ahold of my family who works at dealer. Indeed not as terrible as I thought with what discounts he can do. Now it's just up to me wanting to make the switch and put a few $ down on the next thing.

Thanks!