May be putting my car on leasetrader, fair price?

[R3NEGADE]

I love my 135 but I am getting a car for work soon and really do not think it will be worth having 3 cars between my wife and I. In the middle of March I will have 24 months left on the least, car has about 7800 miles on it right now and its a 30k lease so its under for the first year. I would be asking for $2000 up front as the payment is only $430 per month with all fees, I think thats a great deal but have never sold a lease let me know what you think?

2010 135
Alpine White
Black Boston Leather
M Sport Package
Upgraded Sound/ipod connection

[jpd]

Call BMW USA and ask about lease assumptions. Not sure what the market is for this kind of contract. You might also inquire about whether there are any state rules protecting the consumer i.e., original lease holder. Questions like wear and tear, inspections, and condition of the car will be paramount. I assume you have 10k a year in mileage, and have made only six payments. Whether you can get any cash will depend on the demand for your car.

[R3NEGADE]

Yes I have 10k a year but have made 12 going on 13 payments at this point, my first payment being march 2010

That was my other question if BMW is one of those companies who make you stay on the lease as co-borrower, I dont think they are?

[jpd]

I have heard both opinions, but BMW USA will give you the real info. You want to be clear of any obligation???? This is the potential problem that could come back and haunt you. The most important question to ask is if someone assumes your lease does your obligation vanish???? Don't fool around with lease assumption companies, if ever, until you hear from BMW in writing.

[gordongekko]

For comparison sake, I recently leased a 2011 with similar options, except I have the nav. My lease was 3 years, 12K/year, zero down and was $500/month. Considering your vehicle is used, less miles/year, slightly less options, and $2k down ... first blush is that it might be a little pricey.

That said, the term you have remaining might be attractive to someone.

[Keeper]

Renegade, what is all of the info on the car, may be able tobuy out.

[R3NEGADE]

What other info are you looking for? All options are listed and would be completley stock

[R3NEGADE]

Still considering this, checked the lease payoff and if someone wanted to buy it I would need to get $33,000 with it currently having 11,000 mile if that is of interest to anyone.

[jpd]

Sounds to me like the market for lease assumptions is not good.

[R3NEGADE]

Originally Posted by jpd

Sounds to me like the market for lease assumptions is not good.

Why do you say that? I am not actively pursuing this and chose not to put it up for lease assumption for personal reasons from my research, I checked a buyout quote and posted accordingly to see if it was of interest to anyone.

[jpd]

That was in March

[fourtailpipes]

Originally Posted by R3NEGADE

Why do you say that? I am not actively pursuing this and chose not to put it up for lease assumption for personal reasons from my research, I checked a buyout quote and posted accordingly to see if it was of interest to anyone.

i've looked into this before with other cars, and have always concluded that it's not worth it. generally, people shopping for a lease on leasetrader are already well aware of their alternatives, and are only willing to deal with the headache if it saves a considerable amount of money. it probably only makes sense if you're desperate to get rid of the car and can't find another way out.

otherwise, a better economic solution could be to buy and sell the car, or simply return it early. not all dealers will do this, but i had a dealer take a leased car back very early, and paid me a small amount. the trade-in value of the car exceeded the buyout price on the lease, so we reconciled the difference, and they paid me part of it to mirror the end result if i were to buy it from the lease and sell it into dealer inventory.

[R3NEGADE]

Originally Posted by jpd

That was in March

Im still kind of lost what you are trying to say here sorry?

[R3NEGADE]

Originally Posted by fourtailpipes

i've looked into this before with other cars, and have always concluded that it's not worth it. generally, people shopping for a lease on leasetrader are already well aware of their alternatives, and are only willing to deal with the headache if it saves a considerable amount of money. it probably only makes sense if you're desperate to get rid of the car and can't find another way out.

otherwise, a better economic solution could be to buy and sell the car, or simply return it early. not all dealers will do this, but i had a dealer take a leased car back very early, and paid me a small amount. the trade-in value of the car exceeded the buyout price on the lease, so we reconciled the difference, and they paid me part of it to mirror the end result if i were to buy it from the lease and sell it into dealer inventory.

Thanks for the info, from everything I can find you are correct. Like I said I love this car and Im not financially desperate to get rid of it, just weighing my options and seeing if the buyout would make financial sense to anyone. I may wait untill around the 2 year period and see if the dealer would want the car back or I can buy it out for a good deal since the mileage will be very low...I think I am putting about 200 miles a month on it at this point

[jpd]

I'm afraid that the best option unless you can sell it privately is to keep it. Maybe without an upfront payment the $430 might be low enough to attract someone. Good Luck

[FJUNO78]

I'd say lose the $2000 down... Maybe even pay the paperwork fee for the other party.

I can't imagine anyone doing that when you can lease a brand new one for about the same deal you are offering.

You will get reemed if you try to sell it to a dealership. Far worse than losing roughly $2500

[R3NEGADE]

Originally Posted by FJUNO78

I'd say lose the $2000 down... Maybe even pay the paperwork fee for the other party.

I can't imagine anyone doing that when you can lease a brand new one for about the same deal you are offering.

You will get reemed if you try to sell it to a dealership. Far worse than losing roughly $2500

Not looking into a lease assumption any more and have no need to make some one a deal to get rid of the car, thanks for the insight though.

[fourtailpipes]

i'd just sit it out a little longer and watch the depreciation curve settle on your car. i'm in the same boat (sort of). i'm financing, not leasing, but i also put extremely low miles on the car, so its resale/trade values are above my purchase price. i'm just waiting for that gap to open a little wider. this makes sense for me because i got 0% interest on my loan. the money factor on your lease may not be so great. you may want to look into your effective interest rate on the lease and considering switching to a financing arrangement to save yourself interest cost down the line. the lease isnt helping you if you put really low miles on the car... it's really just helping the dealer who gets to realize the profit resulting from the undervaluation of your car (because you put low miles on it). if you can get a good rate, financing would put you in a position where you can sell/trade it any time you please, and would maximize the gap between your purchase price and the car's value (your return of capital).