[WarReady]

I am wanting to get out of my 5er and back in a coupe and I am curious if I can get out of my lease really early? I put a lot of money down and am under my mileage. Just wondering if it is possible and what kind of penalties are there.? Any and ALL help is much appreciated!

[AP]

No problem getting out I'd say , HOWEVER it's how much that is going to cost.
A new car is obviously going to take a bit hit in depreciation as you drive it away from the dealers.
I can only suggest you contact the dealer who will work out how much the car is worth (i.e. how much it has cost so far) work out how much you paid and the difference will be what you owe.

I've not figures but I would expect it not to be a cheap thing to get out of lease early on. Possible yes , but it comes at a price.

get a quote and then you can decide if its worth doing.

[Grover432]

When you put money down, it just lowers your lease payment over the term. Only your dealer can tell you what getting out and into another BMW will cost you. Good luck.

[ezmaass]

I agree with the guys above - they'll absolutely let you out... for a price.

I've never had this situation with BMW, but I leased an Infiniti back in 2004 or 2005 and by 2006 I wanted out. The car (a G35 coupe) was just a bit of a bore, and I hardly drove it (it wasn't my DD). Like you, I was under on mileage. I called Infiniti directly and got a quote to return it - it was a few thousand dollars, but way cheaper than seeing through the remainder of the lease, so I did it. They sent a guy out to my house who did a return inspection. After that, I just scheduled a time to return it to the dealer. I'm not sure how BMW does it, but I'm sure they have a similar process. You may want to dig out your lease agreement and start reading the fine print.

[bkM3]

Originally Posted by ezmaass

I agree with the guys above - they'll absolutely let you out... for a price.

I've never had this situation with BMW, but I leased an Infiniti back in 2004 or 2005 and by 2006 I wanted out. The car (a G35 coupe) was just a bit of a bore, and I hardly drove it (it wasn't my DD). Like you, I was under on mileage. I called Infiniti directly and got a quote to return it - it was a few thousand dollars, but way cheaper than seeing through the remainder of the lease, so I did it. They sent a guy out to my house who did a return inspection. After that, I just scheduled a time to return it to the dealer. I'm not sure how BMW does it, but I'm sure they have a similar process. You may want to dig out your lease agreement and start reading the fine print.

thats called an early lease termination quote, im not sure bmw does it but it doesnt hurt to call and ask.

[bake]

Put it up on swapalease and see if someone is willing to take it over. If you put a lot down and your payment is low enough, you may get a taker.

[elusive]

You can go the dealer route, but you will most likely have negative equity.
Another option is to place an ad on Craigslist to find someone to takeover your lease. The transferee will have to pay BMW $500 for the app and process.
I've done the latter twice with Lexus and it was easy.

[raleedy]

You can get a payoff quite on BMWUSA.com if your lease is with BMWFS. That should give you a sense of what you are dealing with.

[belal242]

I just did this with a leased explorer sport. Had fun with it for a year during a rough winter. Put no money down and leased it for 36 months. I was under in miles, got a payoff amount to figure out how much I owed Ford. I then search for the cars value on KBB and sold the car for what it was worth. I ended up paying $1000 out of pocket for the difference between what the payoff and sales price was.

Its going to cost you some change but might be worth it if you really want something else. My dealer took another $1000 off the price of the car I ended up purchasing and BMW was doing the first two payments last month for any CPO'ed 5series. So in combination with incentives and squeezing the dealer I managed to actually come up.

[BavariaExclusive]

How did you end up selling a car that is not yours?

Originally Posted by belal242

I just did this with a leased explorer sport. Had fun with it for a year during a rough winter. Put no money down and leased it for 36 months. I was under in miles, got a payoff amount to figure out how much I owed Ford. I then search for the cars value on KBB and sold the car for what it was worth. I ended up paying $1000 out of pocket for the difference between what the payoff and sales price was.

Its going to cost you some change but might be worth it if you really want something else. My dealer took another $1000 off the price of the car I ended up purchasing and BMW was doing the first two payments last month for any CPO'ed 5series. So in combination with incentives and squeezing the dealer I managed to actually come up.

[belal242]

The pay off you get is to buy the car. So the dealership I sold the car to sent Ford a check and it was paid for.

[MELLOWYELLOW06]

Call for a payoff to buy the car and take car to Car Max

They will give you the highest bid on the car

If it makes sense, give it to them

[WarReady]

Thank you guys for all the help and input it is much appreciated...!! Don't get me wrong I do not mind driving a 550i around lol but I really want a coupe again it's just a totally different feel. Thanks again I am calling bmwfs today and going from there!

[omaralt]

Originally Posted by STACKZ89

Thank you guys for all the help and input it is much appreciated...!! Don't get me wrong I do not mind driving a 550i around lol but I really want a coupe again it's just a totally different feel. Thanks again I am calling bmwfs today and going from there!

I was in the exact same position as you. Found somebody to assume the lease on my 13 550i and then picked up a 6spd manual 435i. You will not be disappointed

[WarReady]

Originally Posted by omaralt

I was in the exact same position as you. Found somebody to assume the lease on my 13 550i and then picked up a 6spd manual 435i. You will not be disappointed

How did u find someone to pick up the lease?

[omaralt]

i posted ads on this website and bimmerfest (on the buy/sell forum). i eventually found the person here on this site. what are the details of your lease? getting out all depends on how good of a deal you got initially. post your details and i'll let you know what I (and others) think

[WarReady]

Originally Posted by omaralt

i posted ads on this website and bimmerfest (on the buy/sell forum). i eventually found the person here on this site. what are the details of your lease? getting out all depends on how good of a deal you got initially. post your details and i'll let you know what I (and others) think

It's posted in the marketplace on this site!!? Thanks