[mmp151]

Hi Folks. Just like many folks cause of the global pandemic we're not using our 2020 m340 (Black on Black) that we custom ordered. We're tied into a 45,000 / 3 year lease which ends in January 2023, and the car barely has 5,000 miles on it. So I'm looking at what my options are, if someone takes over the lease they would practically get over 20k miles per year (since there's almost two years remaining with 40k+ miles left on the lease). I tried to contact BMW hoping they would help me terminate my lease early without any fees / payouts because of the pandemic but they weren't very helpful at all. So wondering how folks have done this before? What sites do you recommend for these transfers? Any is the market flooded with others like me; will it take forever to get this car off my hands? Appreciate the help and insight from others in similar situations or who have done this in the past.

[Merami fan]

Swapalease is the go-to site. Bear in mind it's going to be more difficult to find a taker if your payments are high/you put down MSDs/the deal wasn't great to begin with. You may have to provide an incentive. Also, I've heard that BMWFS is pretty slow with processing transfers lately, so you may have to eat a few more payments.

[M340i Pride]

greetings. Well, there is a classified section here... Wouldn't hurt to put it up here.

if the deal is decent, someone will take it from you.

Just curious, what is the lease payment?

[Germanauto]

My father is experiencing the same issue on his also very one-of-a-kind Macan S. He's supposed to be hitting 12k miles/yr and it only has 5k miles one year into the lease. From what he's researched it's difficult to find a taker.

[born_on_halloween]

Originally Posted by mmp151

Hi Folks. Just like many folks cause of the global pandemic we're not using our 2020 m340 (Black on Black) that we custom ordered. We're tied into a 45,000 / 3 year lease which ends in January 2023, and the car barely has 5,000 miles on it. So I'm looking at what my options are, if someone takes over the lease they would practically get over 20k miles per year (since there's almost two years re.....

I have done this in the past but I offered an incentive!
Go to Swapalease open an account and most importantly offer incentives. If your offer stands from the rest, you have a shot at this.

Just think like a buyer, not necessarily a seller!
Why would anyone assume your lease?... instead of going to a dealer and get a lease themselves, specifically while they could get a better rate/deal. Incentive is a good way to entice people.

[ArchJR]

It's pretty easy to gauge the market here:
https://www.leasetrader.com/search-r...&yearlist=2021

The site is misleading, though. There are lots of broker listings which are not for actual cars. Whenever you see a stock image, it is because someone started to list a car but never followed through with uploading photos and paying for the service. Leasetrader keeps potential listings live so it can constantly email the seller and get them to pay the listing fee.

I've been browsing this before I pull the trigger on a new 3-series order, as I would like a stopgap car for another year or two before there are more EV models on the market. But it has to be a good deal, and in my mind any payment over $650 (maybe $750 very well optioned) is not. For anyone who leased an M340i when they were just out and not incentivized, with a payment in the $800+ range, that means coming out of pocket for an incentive.

[ThatKrazyPolak]

And this gentlemen, is why you don't lease cars. Payments on $45,000 worth of depreciating metal (although it's a nice piece of metal) are not going to look pretty, especially since there's no initial deposit as is common on most leases.

If you gave me a decently speced M340, marked down 10% with dealer discounts and incentives and no mileage, I would gladly take that because I could reduce that initial loan down 20K easily. In this case, OP has to eat payments, and potentially offer something more to get rid of the lease.

[Jer025]

Originally Posted by ThatKrazyPolak

And this gentlemen, is why you don't lease cars. Payments on $45,000 worth of depreciating metal (although it's a nice piece of metal) are not going to look pretty, especially since there's no initial deposit as is common on most leases.

If you gave me a decently speced M340, marked down 10% with dealer discounts and incentives and no mileage, I would gladly take that because I could reduce that initial loan down 20K easily. In this case, OP has to eat payments, and potentially offer something more to get rid of the lease.

So owning a piece of deprecating metal is better? Got it.

[ThatKrazyPolak]

Originally Posted by Jer025

So owning a piece of deprecating metal is better? Got it.

At least I own something, won't be left high and dry after 3 years. You own your computer right? Your tv? Your phone? They're basically worth half their value after two years. Same concept.

[EXE46]

Try lease leasehackr.com, I see countless BMW lease transfers posted there and people are genuinely interested provided the payments are reasonable of course.

[ArchJR]

Originally Posted by ThatKrazyPolak

At least I own something, won't be left high and dry after 3 years. You own your computer right? Your tv? Your phone? They're basically worth half their value after two years. Same concept.

This conversation again? Not at all helpful to the OP.

[Merami fan]

Originally Posted by EXE46

Try lease leasehackr.com, I see countless BMW lease transfers posted there and people are genuinely interested provided the payments are reasonable of course.

leasehackr is only good if your deal is very good to begin with. Otherwise, they'll just say 'put up a few thousand dollar incentive and good luck on SAL.'

[Jer025]

Originally Posted by ThatKrazyPolak

At least I own something, won't be left high and dry after 3 years. You own your computer right? Your tv? Your phone? They're basically worth half their value after two years. Same concept.

You actually just made the ultimate argument for leasing in your post. I'll be back in a new car in 3 years worry free with zero out of pocket. To each his own man but please try to understand there are benefits to both and it comes down to individual preferences.

[ThatKrazyPolak]

Originally Posted by Jer025

You actually just made the ultimate argument for leasing in your post. I'll be back in a new car in 3 years worry free with zero out of pocket. To each his own man but please try to understand there are benefits to both and it comes down to individual preferences.

That's assuming you want to be in a new car every three years and investing isn't on the forefront of your mind.

[obscurehero]

Originally Posted by Jer025

You actually just made the ultimate argument for leasing in your post. I'll be back in a new car in 3 years worry free with zero out of pocket. To each his own man but please try to understand there are benefits to both and it comes down to individual preferences.

Originally Posted by ThatKrazyPolak

That's assuming you want to be in a new car every three years and investing isn't on the forefront of your mind.

This is a fun conversation I'll pile on into.

I'd wager that someone that puts 'investing' on the forefront of their mind is not also someone who spends money on luxury cars. Everyone puts their line somewhere, but if I really wanted a bargain I'd drive a 2005 Corolla until the engine gave out.

If you know you're going to hop from car to car, and you do that regularly, leasing makes the most sense. It's also the most expensive long-term, but since you just have to pay for depreciation of a new car payments aren't usually as high.

Leasing is not as flexible as buying. This is evidenced in this thread by OP's predicament. It's also more restrictive (mileage limits, modification restrictions, etc).

In this case, OP couldn't have predicted a global pandemic and a lease might have made the most sense. Wish OP the best of luck finding someone to take it over.

[TruthOne]

Originally Posted by ThatKrazyPolak

And this gentlemen, is why you don't lease cars. Payments on $45,000 worth of depreciating metal (although it's a nice piece of metal) are not going to look pretty, especially since there's no initial deposit as is common on most leases.

If you gave me a decently speced M340, marked down 10% with dealer discounts and incentives and no mileage, I would gladly take that because I could reduce that initial loan down 20K easily. In this case, OP has to eat payments, and potentially offer something more to get rid of the lease.

Say what? If he had purchased the car he'd really be screwed and so upside down it wouldn't be funny. Neither leasing or buying a car is what one would call a good financial decision. If one can afford it who cares?

[TruthOne]

Originally Posted by ArchJR

It's pretty easy to gauge the market here:
https://www.leasetrader.com/search-r...&yearlist=2021

The site is misleading, though. There are lots of broker listings which are not for actual cars. Whenever you see a stock image, it is because someone started to list a car but never followed through with uploading photos and paying for the service. Leasetrader keeps potential listings live so it can constantly email the seller and get them to pay the listing fee.

I've been browsing this before I pull the trigger on a new 3-series order, as I would like a stopgap car for another year or two before there are more EV models on the market. But it has to be a good deal, and in my mind any payment over $650 (maybe $750 very well optioned) is not. For anyone who leased an M340i when they were just out and not incentivized, with a payment in the $800+ range, that means coming out of pocket for an incentive.

That site is extremely misleading. You have people claiming to lease 69K MSRP cars for 550 per month with 57% residuals. The numbers make no sense nor is that possible unless the dealer enjoys losing money

[Benjamin_Nicholas]

I don't understand why not driving every single mile in your lease is a problem.

Just drive it when you drive it. *shrug*

If you can't afford the vehicle not driving it, to me, that's a problem and you likely shouldn't have leased it in the first place.

[Jer025]

Originally Posted by ThatKrazyPolak

That's assuming you want to be in a new car every three years and investing isn't on the forefront of your mind.

It's more than feasible to have a $6**/mo lease payment and still invest. Trust me.

[herwawan]

Originally Posted by TruthOne

That site is extremely misleading. You have people claiming to lease 69K MSRP cars for 550 per month with 57% residuals. The numbers make no sense nor is that possible unless the dealer enjoys losing money

I pay 587/mo for my 21 M340, 58% residual and MSRP $66k.

They wouldn’t do it if they were losing money.

OP, it’s not the most comfortable situation but you can get out of it with patience. I had one of my leases taken over a few years ago and it took patience, but it ended up being a great experience, not as stressful as selling a used car.

Take the time to understand the process with BMW Finance and put your car out there on the different websites available (including those indicated above, Facebook groups, and else) with incentives that make sense for you. You got this

[TruthOne]

Originally Posted by herwawan

I pay 587/mo for my 21 M340, 58% residual and MSRP $66k.

They wouldn't do it if they were losing money.

OP, it's not the most comfortable situation but you can get out of it with patience. I had one of my leases taken over a few years ago and it took patience, but it ended up being a great experience, not as stressful as selling a used car.

Take the time to understand the process with BMW Finance and put your car out there on the different websites available (including those indicated above, Facebook groups, and else) with incentives that make sense for you. You got this

How is that possible? Are they taking 15+ percent off? With max MSD? Demo car? Did you put down a bunch of money? What state are you in and what are your taxes? That's literally impossible in California.

Just based on what you're saying the dealer would have to give you 15% off on a 2021 model car which doesn't happen I don't care how good of a negotiator you are. It just can't be done.

[hans007]

The math on leases usually works out fairly evenly to just buying it and then selling it on say shift/carvana etc in 40 months or at least its supposed to. The pandemic changed that becuase you are locked into the miles you thought you'd drive.

That said, at the end of the lease term you can still just but it out and have a really low milage BMW and sell it so that would be the worst you could do.

I know in 2 years, I'll probably have a 2020 m340i with like 18k miles on it at the rate were going but I bought my car... so the pandemic is just going to keep the milage on it low. Also you can always sell it on a lease swap place, plenty of people still have commutes like say doctors / nurses who would still probably be interested.