lowering monthly payments

[lannypoffo]

Originally Posted by Noize

Hey, you're in better shape than I am. I have a 6 year loan and am flipped in it. If I traded, I'd have to throw 6k cash down at it to get out. You could throw 3k at it, get the new lessee into the lower $500s monthly, and get out of it easy. The only time this can backfire is if your miles are too high. Throw a little more to get it into the high 400s, and they will come out of the woodwork, I promise. That's be a heck of a deal on a car this nice.

Don't cave too much though, the economy should improve somewhat. It can't get too much worse (I hope). Good luck!

hmm. someone guesstimated that a $1000 cash to buyer on a 3 yr lease will reduce payment by $30/month technically. Maybe that is incorrect. But I'm not about to PAY someone $1000 cash to take my lease.. hell i need that money for a tiny down payment on whatever i get next. And my next car will be USED and lot cheaper. I'm aiming for $400/month payments on the next one so I can save up a bit faster.

[lannypoffo]

Originally Posted by Noize

It won't for you, but it can be applied in the transfer process, because they recalculate for the new lessee.

ohhh good tip, thanks

[chazm]

Originally Posted by former

Sure you can do that, but it still doesn't get you out of the lease. You are still ultimately responsible for the lease payments since you signed it and agreed to it. If that third party who assumes your lease payments flakes out on you, BMW financial (or whoever holds the lease) is still going to hold you responsible and it will impact your credit report, etc.

Have you ever got out of a lease? It doesn't sound like it. Ive done it twice and the car is no longer in my name, what so ever. You are essentially selling the car to someone else.

I'm not too positive about lease trader but I know for a fact you can sell your leased car whenever you want.