[zer0cool]

To omaralt's comments,

Wanting to get your deposit back as a down payment paid by the new lessee to whom you are trying to transfer makes no sense. If you could lease a 2013 car back in 2012 or 13 for $xyz/m with that deposit, then someone can lease a new 2014 for about the same amount with such a deposit...

I don't get why anyone (maybe some would but I surely wouldn't) would pay the same amt of money to get a used car with older engine and technology instead of a new car with better engine and technology...

I feel the only reason to take over lease is when original lessee paid significant down payment such that monthly payment is significantly lower than what I would be able to get on a lease of a new car.

Otherwise it makes no financial sense.

[trelos78]

BMWs are NOTORIOUS for depreciation. Something I should have definitely looked into before leasing. Don't get me wrong I truly love my 550. I'm not dying to get rid of it. If it sells it sells, if not I'm perfectly happy keeping it. I will contact BMW financial and see what my actual payment is without tax.

[Grover432]

Originally Posted by zer0cool

To omaralt's comments,

Wanting to get your deposit back as a down payment paid by the new lessee to whom you are trying to transfer makes no sense. If you could lease a 2013 car back in 2012 or 13 for $xyz/m with that deposit, then someone can lease a new 2014 for about the same amount with such a deposit...

I don't get why anyone (maybe some would but I surely wouldn't) would pay the same amt of money to get a used car with older engine and technology instead of a new car with better engine and technology...

I feel the only reason to take over lease is when original lessee paid significant down payment such that monthly payment is significantly lower than what I would be able to get on a lease of a new car.

Otherwise it makes no financial sense.

That is exactly my point.

[omaralt]

Originally Posted by zer0cool

To omaralt's comments,

Wanting to get your deposit back as a down payment paid by the new lessee to whom you are trying to transfer makes no sense. If you could lease a 2013 car back in 2012 or 13 for $xyz/m with that deposit, then someone can lease a new 2014 for about the same amount with such a deposit...

I don't get why anyone (maybe some would but I surely wouldn't) would pay the same amt of money to get a used car with older engine and technology instead of a new car with better engine and technology...

I feel the only reason to take over lease is when original lessee paid significant down payment such that monthly payment is significantly lower than what I would be able to get on a lease of a new car.

Otherwise it makes no financial sense.

it makes a lot of sense. first off, there are always inception fees that need to be paid at delivery, those are usually about ~$1-2K (title, doc, tag, dealer fees, etc) so you dont have to pay those. but where it makes most sense is when you (original leasee) negotiate a great deal. i negotiated a deal @ invoice minus incentives. so my $74K MSRP car had a purchase price of $66K. combine that with a good residual (i believe it was 59% for 15k miles) and a good money factor (.00125 down to .000076 with MSDs) and i arrive at a payment of $760 + tax. please show me a similar quote (not ED) for a $74K 550i with nothing down but MSD's. very difficult to get. Similar cars with similar miles are leasing closer to $900. send a few emails to some dealers and see. i've swapped and assumed multiple leases and never had a problem, but then i never had security deposits. most people who are assuming a lease dont want to put down $6K, even though it's fully refundable.

[3rd party]

Originally Posted by scott135i

If the car is released in NY state, the person will need to pay full tax on the remaining total value of all the lease payments. The NY lease xfer double tax special. If someone is leasing out of state, they may or may not have to pay the tax. When leasing a car in NY state through BMW, tax get paid in full to NY state up front.

True, but the sales tax is only on the remaining value of the lease payments. OTOH, if the car were sold outright the buyer would owe sales tax as well.

[3rd party]

Originally Posted by trelos78

BMWs are NOTORIOUS for depreciation. Something I should have definitely looked into before leasing. Don't get me wrong I truly love my 550. I'm not dying to get rid of it. If it sells it sells, if not I'm perfectly happy keeping it. I will contact BMW financial and see what my actual payment is without tax.

I disagree - roughly 60% of MSRP of a 3 yo car w 36,000 miles-45,000 miles is pretty good in my book.

Actually the tax has been paid to the state already by BMW. Your monthly payments are paying the state tax back to BMW, plus interest and a new owner would be taxed on the remaining number of payments including the tax so it won't change a thing.

[omaralt]

Originally Posted by zer0cool

To omaralt's comments,

Wanting to get your deposit back as a down payment paid by the new lessee to whom you are trying to transfer makes no sense. If you could lease a 2013 car back in 2012 or 13 for $xyz/m with that deposit, then someone can lease a new 2014 for about the same amount with such a deposit...

I don't get why anyone (maybe some would but I surely wouldn't) would pay the same amt of money to get a used car with older engine and technology instead of a new car with better engine and technology...

I feel the only reason to take over lease is when original lessee paid significant down payment such that monthly payment is significantly lower than what I would be able to get on a lease of a new car.

Otherwise it makes no financial sense.

And just to make sure you understand, I'm not asking for my down payment back. I'm asking for the security deposit back. The new leasee will get that entire amount back at the end of the lease.

[scott135i]

Originally Posted by 3rd party

True, but the sales tax is only on the remaining value of the lease payments. OTOH, if the car were sold outright the buyer would owe sales tax as well.

That's what i said "will need to pay full tax on the remaining total value of all the lease payments"

[scott135i]

FWIW... there is a lease deal on a 2014, available now, $75k msrp for $699 a month, plus sales tax, plus inceptions, plus dealer/doc fees + 7 MSDs....

That would net to $800 a month, with $0 due at signing besides MSRP. So the deal above is still better than an deal on a 2014.... Plus it allows someone to have a shorter lease duration, which is ideal for many. Assuming the lease takeover isn't in NY or any state which would collect the tax again on the remaining payments.

Either way, can't say the OP's deal is bad.

[3rd party]

Originally Posted by scott135i

That's what i said "will need to pay full tax on the remaining total value of all the lease payments"

[Grover432]

Originally Posted by omaralt

it makes a lot of sense. first off, there are always inception fees that need to be paid at delivery, those are usually about ~$1-2K (title, doc, tag, dealer fees, etc) so you dont have to pay those. but where it makes most sense is when you (original leasee) negotiate a great deal. i negotiated a deal @ invoice minus incentives. so my $74K MSRP car had a purchase price of $66K. combine that with a good residual (i believe it was 59% for 15k miles) and a good money factor (.00125 down to .000076 with MSDs) and i arrive at a payment of $760 + tax. please show me a similar quote (not ED) for a $74K 550i with nothing down but MSD's. very difficult to get. Similar cars with similar miles are leasing closer to $900. send a few emails to some dealers and see. i've swapped and assumed multiple leases and never had a problem, but then i never had security deposits. most people who are assuming a lease dont want to put down $6K, even though it's fully refundable.

If you got that deal, others can too. But maybe we are all wrong and the buyers will line up.

[Grover432]

The 60% residual is BMWs number to move cars out the door. No way the car will sell at that value after 3 years, which is why lessees don't buy them out, they get into a new car. BMW sends the car to the dealer auction and takes the loss on the difference between the residual and what the car sells for at auction.

[trelos78]

Weekend bump!!!!

[Grover432]

Originally Posted by trelos78

Weekend bump!!!!

It's hard to bump a car deal with 4 flat tires.

[trelos78]

Originally Posted by Grover432

It's hard to bump a car deal with 4 flat tires.

Just put air in the tires and now added a $500 incentive to the deal so effective payment will be $819 a month for 25 months with 1012 miles a month!!!

[trelos78]

Bump!!! Car needs to go ASAP. $1500 incentive. 25 months 1012 miles a month. Payment drops to 779 a month!!! It won't get any better than this people!!!

[Grover432]

Originally Posted by trelos78

Bump!!! Car needs to go ASAP. $1500 incentive. 25 months 1012 miles a month. Payment drops to 779 a month!!! It won't get any better than this people!!!

If I can suggest this; put the car on a lease take over service in the US (similar to Leasebusters in Canada). If you offer enough of an incentive, I'm sure it will go quickly. Offering it here is probably a bit of a dead end as 98% of the participants already have a 5 series that they come here to talk (or gripe) about.

Good Luck.

[trelos78]

Originally Posted by Grover432

If I can suggest this; put the car on a lease take over service in the US (similar to Leasebusters in Canada). If you offer enough of an incentive, I'm sure it will go quickly. Offering it here is probably a bit of a dead end as 98% of the participants already have a 5 series that they come here to talk (or gripe) about.

Good Luck.

Absolutely correct......car is going up on leasetrader in a couple of days!!!