[seis-speed]

I now live very close to my work, gym, groceries, etc....I am only at 2k miles on a lease 9 months old.

I have terms 3 years for 36k but I think there is no way I hit 20k.

Can I change miles and even months knock it down to a 30 or 24 month?

TY

[MCMLXXXIX]

not sure but i do know that you should give me those miles you wont be using

Dam, I drive 2k a month

[Crimson92]

Short answer. No

[mbhforum]

No, you can't, it's a signed contract. However, this contract also benefits you with the buyout price as they estimated you would do 36k miles and your car would be worth X amount. Now your probably going to 15k, so it might make sense to buy the car out. I was in the exact same position on my current G35x lease for 36k miles and I am going to turn the car in with 21k. I used to work far, now I work in the city and take transportation. The best you can do is call your insurance company up to make sure they know you only drive 7,500 a year to reduce your premium.

Another option is, your lease will be very attractive to transfer, so try swaplease.com. Someone will definitely be interested in your lease.

[cotmfk]

Ouch. Start taking long road trips?

[rooster3.0]

If you keep your mileage low throughout the term of your lease, you'll be able to sell the car privately before the lease ends. For example, your buy out is $27,000 but you sell the car privately for $30,000. That's 3k right in your pocket. Other than that, a lease take-over would be your best option.

[JSpira]

Originally Posted by rooster3.0

If you keep your mileage low throughout the term of your lease, you'll be able to sell the car privately before the lease ends. For example, your buy out is $27,000 but you sell the car privately for $30,000. That's 3k right in your pocket. Other than that, a lease take-over would be your best option.

That typically doesn´t work as the OP would first have to pay sales tax on the purchase and that would eat up the profit.

[noro]

You best bet is you purchase the car at the end and try to sell it. Most likely you will make more that way. A nice 3 year BMW with 20K miles should be relatively desirable.

[SteveMD]

Originally Posted by noro

You best bet is you purchase the car at the end and try to sell it. Most likely you will make more that way. A nice 3 year BMW with 20K miles should be relatively desirable.

As the post above yours states, you will have to pay state sales tax on the purchase prior to you selling it. 5% of $27000 is $1350 and some states are higher. That eats into your profit.

Some dealers will do a 'Buy and Bye' where for a fixed fee ($500??) they will facilitate the transfer through them which will save the OP the cost of sales tax.

[JSpira]

Originally Posted by seis-speed

Can I change miles and even months knock it down to a 30 or 24 month?

To directly answer this part of the question, once you sign, there are ZERO changes that can be made to the lease with the exception of purchasing MORE miles.

[jopa489]

Originally Posted by index1489

Dam, I drive 2k a month

Me too, if not more.

You always have the option of buying it out then selling it at the end of your lease. But BMWFS doesn't offer anything to help this kind of situation. At least you'll never have to worry about being over miles.

[SteveMD]

Originally Posted by jopa489

Me too, if not more.

You always have the option of buying it out then selling it at the end of your lease. But BMWFS doesn't offer anything to help this kind of situation. At least you'll never have to worry about being over miles.

See my previous post.

Also, there are many states where buying out a lease just doesn't make sense because the sales tax is levied on 100% of the car at lease inception.

For example. In Maryland where sales tax is 6%, if you lease a $50K car you will pay $50 x 6% or $3000 to the state. It doesn't matter if you are leasing it for 1 year, 3 years or 6 months, you will be adding that $3000 into your deal somewhere. TX, VA, WV, MD, IL and several others do this. Compare this to other states who simply tax your payment so in efffect, you are only paying tax on the depreciation - which makes sense.

So, when you come to buy the car at the end of the lease in such states, guess what....yup....another 6% of the buy out price. So if you plan to sell the car immediatey, get a dealership to do a 'Buy and Bye'.

[jopa489]

Originally Posted by SteveMD

See my previous post.

Also, there are many states where buying out a lease just doesn't make sense because the sales tax is levied on 100% of the car at lease inception.

For example. In Maryland where sales tax is 6%, if you lease a $50K car you will pay $50 x 6% or $3000 to the state. It doesn't matter if you are leasing it for 1 year, 3 years or 6 months, you will be adding that $3000 into your deal somewhere. TX, VA, WV, MD, IL and several others do this. Compare this to other states who simply tax your payment so in efffect, you are only paying tax on the depreciation - which makes sense.

So, when you come to buy the car at the end of the lease in such states, guess what....yup....another 6% of the buy out price. So if you plan to sell the car immediatey, get a dealership to do a 'Buy and Bye'.

I read the post, and never said buying out the lease would make sense. Unless you are way over miles, it is almost never the right decision from a financial perspective. A "Buy and Bye" transaction is completed solely by the dealer. BMWFS really isn't involved.

[seis-speed]

I am in Oregon so there is no sales tax....I was told that you can make an adjustment in miles by 2 dealers but I have not called BMWFS yet. I think it takes off twenty bucks a month tops.

I do love the car but I just have a unique setup where I live/work.

Has anyone else had success on swaplease?