PLEASE HELP!! Your advice is needed.
 

I recently started a lease on a 2006 X5 4.4i. Unfortunately, due to financial problems, I can no longer afford this car. I've only been in the car since November '05 and I have only driven 1600 miles.

What options are available for me? Any advice would be greatly appreciated!

Since I’ve only been a member for a few months, I’ve learned quite a bit from you folks and I value your opinions and advice.

THANKS!

You could try seeing if someone will pick up your lease by listing it on http://swapalease.com or http://leasetrader.com

You may have to provide some incentives to entice someone to take it over, though, versus just starting their own lease with BMW.

:goodluck:

Those are pretty much your only options. Without question you are upside down here--hopefully you got a good deal on your lease. Good luck!

thanks for the post UCrewX5, this seems like a good option esp for getting high end cars without paying a down payment.

I picked up a car on leasetrader.com a few years ago and the process was pretty straight forward. Good luck.

You might also want to see if your lease is insured against financial hardship by the dealer. I never knew such a thing existed until an ex-girlfriend of mine lost her job and couldn't keep up her car payments. Upon speaking with the dealer, she found out the lease was insured and there was no penalty for her to get out of it. Had she just been wanting to break the lease it may have been a different story, but in her case it was a simple, no penalty arrangement.