lease question
 

my friend has a lease from bmw and she wants to switch to another bmw.if she go back to bmw and trade in her car for a new lease does she still have to pay all the remaining payments or is it possible to switch to a different car with a small penalty? thanks

Hmm, really a question for the dealer. There can be some many catches written into a lease, she is better off talking to a finance rep at the dealership.

Usually if you are trading into another BMW, they will work out a deal with you. Just go to the dealer and ask.

it is extremely rare that bmwfs lets you out of the lease to get into another one. the dealer doesn't hold the lease, bmwfs does.... if she only has a few payments left the dealer *could* make a deal, but i doubt it's worth it.

I would suggest that she put the car on swaplease.com and assign it over to someone else and then go get what she wants. BMWFS lets you assign the lease and walk away with no responsibility, I did it exactly that about 18 months ago with my '04 X5 4.4i

Jcreed, I would discourage your friend from even trying.

It is a finance managers job to find a way to "pad" the numbers so it looks like your friend is getting out of the lease. But believe me, one way or another, your friend is going to pay for that lease.
They might show you a way that your numbers won't change.. ex, you were paying $500/month, you could trade in your car and still pay $500/month.. But the lease terms are usually very against your friends position. (the terms are much longer, or the car is less expensive, or the deposit is greater.." etc.

It's just not worth it unless your friend REALLY REALLY needs to get out of the vehicle.

B

If the car has equity (worth more than the payoff), then they will take the car like an ordinary trade-in and put the equity towards a new lease or purchase (at least around here...)
GL :2thumbs:

I don't think I know anyone with a lease who ever winds up right side up in a lease.... it's almost impossible unless you take out a 4 year lease and you're in month 40 (assuming the lease terms weren't a complete ripoff)