Getting out of lease

[PatatasFritas]

Got my M6 4 months ago, and realizing it may not be the car for me Beyond lease trading websites, what are the options to terminate a lease early?

[Mr.SugarSkulls]

Originally Posted by PatatasFritas

Got my M6 4 months ago, and realizing it may not be the car for me Beyond lease trading websites, what are the options to terminate a lease early?

Prepaying the lease upfront then turning it in, lease take over sites (as you mentioned- swapalease is much better than leasetrader) or enjoy it!

An m6 isn't a hard vehicle to love at all! I'd say keep it!

[mjr24]

Exactly....there is none. You can either turn the car in today and BMW will send you a bill for the remaining payments or you will be forced to put it on Leasetrader or Swap a Lease. I think BMWFS charges $500 to transfer a lease.....those websites are normally $200-250 I think each to post the ad.

I guess your other option would be to see what the buy out is, try to sell it for that, and then pay the loan off.....

[M6-Coupe]

I had the same experience! back in summer 2013 I tried to get rid of my 4 months old 650i with 95K MSRP (87K selling price) to get M6. CarMax offered me 60K !!! But I traded in with the same dealer I got my M6 for 77K.
I think either you must be lucky to find a guy who takes your lease over or to find a guy who buys your car with decent price and then pay it off or trade in for another BMW with the same dealer. Goodluck

[doug_999]

swapalease and leasetrader are your best options. Also post in the classified here for a lease takeover.

If you did MSDs (Multiple Security Deposits) it gets a bit harder (because now you are asking someone to give you money towards a lease - even though they will get it back).

You often need to give some incentive as well. But I think you know all this already.

I'm sorry you are in this situation. I will say that I felt a bit the same with my 650xi about 2 months into it, but I'm actually really starting to like it.

Oh one more thing...if you really do hate it, find a way out of it. I was in a 39 month lease with a 2003 Lexus GS430 - no matter what, it was always the sum of my payments to get out. I hated that car and life is just too short to drive a car you hate. I should have just paid up and gotten back into a BMW.....

[adamg13]

Assuming your lease payment is competitive, any idea how long it'd take to swap a car like the M6 on one of those websites? I realize the market is a bit smaller than some of the mass produced cars, but then again it seems like the wait to start a fresh m6 lease can be a pain in the rear to some buyers as well.

[PatatasFritas]

Originally Posted by doug_999

swapalease and leasetrader are your best options. Also post in the classified here for a lease takeover.

If you did MSDs (Multiple Security Deposits) it gets a bit harder (because now you are asking someone to give you money towards a lease - even though they will get it back).

You often need to give some incentive as well. But I think you know all this already.

I'm sorry you are in this situation. I will say that I felt a bit the same with my 650xi about 2 months into it, but I'm actually really starting to like it.

Oh one more thing...if you really do hate it, find a way out of it. I was in a 39 month lease with a 2003 Lexus GS430 - no matter what, it was always the sum of my payments to get out. I hated that car and life is just too short to drive a car you hate. I should have just paid up and gotten back into a BMW.....

Thanks guys.

I certainly don't hate the car, it is an absolutely fantastic car. As crazy as this may sound, it is almost too luxurious and not as visceral as I'd hoped for. That's obviously a huge strength of the car for most people, particularly if driven daily but I got it as more of a weekend warrior. I knew these things going into it but I found the car so stunning, that I overlooked the gut feeling.
Live and learn...

[PhantomCypher]

You're totally stuck with the car short of paying off the entire lease or trading it to someone else. Don't fret over the small things in life - just drive the heck out of the car and make it your DD. Buy/Lease another car as your weekend warrior.

[AstonMartian777]

Originally Posted by PatatasFritas

Thanks guys.

I certainly don't hate the car, it is an absolutely fantastic car. As crazy as this may sound, it is almost too luxurious and not as visceral as I'd hoped for. That's obviously a huge strength of the car for most people, particularly if driven daily but I got it as more of a weekend warrior. I knew these things going into it but I found the car so stunning, that I overlooked the gut feeling.
Live and learn...

Pics, payment info please

[F12M6MD]

You might try a cat-back exhaust before ridding of the M6. May add some of the experience you're looking for. Good luck.

[M6-Coupe]

Originally Posted by F12M6MD

You might try a cat-back exhaust before ridding of the M6. May add some of the experience you're looking for. Good luck.

Or set the car is S3, Sport+ throttle/suspension , sport steering, M view and MDM to experience ultimate driving... but no don't do that other wise you will miss the car when you would get rid of her

[POBA]

Would you please post pics, car options/packages and lease details including mileage, lease term and monthly payment. I might be interested if the deal is right. Thank you.

[PatatasFritas]

Deal was:

MSRP was $123,425
MF: 0.00086
RV: 54%
1,295.04/month
10k miles per year.

Car currently has 1200 miles.

Sorry, still trying to figure how to insert pics.
PM me and I can always email them.

[Mr.SugarSkulls]

Check your pm

[POBA]

Just sent you pm. Thanks.

[m3larson]

Originally Posted by PatatasFritas

Deal was:

MSRP was $123,425
MF: 0.00086
RV: 54%
1,295.04/month
10k miles per year.

Car currently has 1200 miles.

Sorry, still trying to figure how to insert pics.
PM me and I can always email them.

That's a good lease... Why not place an ad on lease trader? I bet you would get rid of it quickly.

[M6-Coupe]

Originally Posted by PatatasFritas

Deal was:

MSRP was $123,425
MF: 0.00086
RV: 54%
1,295.04/month
10k miles per year.

Car currently has 1200 miles.

Sorry, still trying to figure how to insert pics.
PM me and I can always email them.

Just out of my curiosity did you put any MSD to reduce the MF to 0.00086?
This is the lowest MF I have seen on M6.

[speedracerlo]

I'd say keep it and get the Dinan stage II and akrapovic exhaust to make you happy

[Mr.SugarSkulls]

Originally Posted by M6-Coupe

Just out of my curiosity did you put any MSD to reduce the MF to 0.00086?
This is the lowest MF I have seen on M6.

Hahahaha I PM him and asked the same exact thing. I'm about as qualified as any tier 1 applicant and I didn't even get that. He says it's based off the relationship/business he brings them.

Guess I need to buy the gf, brother and dog one too to start getting that too! (I just bought my mom an x4 not long ago, so I'm halfway there! Lol)

As mentioned though- OP, put her up on swapalease. At that price- it'll move fairly quickly

[PatatasFritas]

Originally Posted by M6-Coupe

Just out of my curiosity did you put any MSD to reduce the MF to 0.00086?
This is the lowest MF I have seen on M6.

Yes I put MSDs.

[Mr.SugarSkulls]

Originally Posted by PatatasFritas

Yes I put MSDs.

Yikes man, unless you ask for the person who assumes the lease to pay upfront- those MSD won't go back to you, they'll be returned to the person who's on the lease at the end. Makes taking over the lease harder unless you don't care- then I'm certain you can get rid of it within a months time

[mjr24]

Yep, MSD.....that is what my interest rate was, as well.