335 to C450 : need help getting rid of the lease early
11-01-2015, 01:55 AM
#26
Junior Member
Thread Starter
In Canada you can't buy extra miles before the lease ends.
I'm gonna call BMWFS next week to get the payoff.
Quick question : does BMWFS consider the registered accident and lower the payoff? If that's the case then I don't mind the MB dealer giving me less money for my BMW.
I'm gonna call BMWFS next week to get the payoff.
Quick question : does BMWFS consider the registered accident and lower the payoff? If that's the case then I don't mind the MB dealer giving me less money for my BMW.
11-01-2015, 08:28 AM
#27
Member
In the US, and in my experience, the leasing company will provide you 2 payoffs:
1) Yours/bank - If you buy out the vehicle, cash or new loan.
2) Dealer - If a dealer is buying it out on trade or in a straight buy of the leased vehicle.
The difference is tax is collected by the leasing company if you are buying it out.
It is my experience too that they will not negotiate that amount.
1) Yours/bank - If you buy out the vehicle, cash or new loan.
2) Dealer - If a dealer is buying it out on trade or in a straight buy of the leased vehicle.
The difference is tax is collected by the leasing company if you are buying it out.
It is my experience too that they will not negotiate that amount.
11-01-2015, 06:45 PM
#28
1 week ago I got a GL 450 and a C450 from MB. I had an Audi S5 with one more month to go on the lease that MB payed for me and a Lexus Rx 350 with 2 years to go on the lease and negative 6000 dollars in value which MB took off from my hands because I lease 2 cars in the same day. they were very helpful and they gave me very good numbers in terms of lease amount. very happy with MB
11-01-2015, 07:47 PM
#29
Junior Member
In Canada you can't buy extra miles before the lease ends.
I'm gonna call BMWFS next week to get the payoff.
Quick question : does BMWFS consider the registered accident and lower the payoff? If that's the case then I don't mind the MB dealer giving me less money for my BMW.
I'm gonna call BMWFS next week to get the payoff.
Quick question : does BMWFS consider the registered accident and lower the payoff? If that's the case then I don't mind the MB dealer giving me less money for my BMW.
11-04-2015, 04:32 PM
#31
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Join Date: Apr 2010
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2018 E300 Lux, 2006 Corvette Z51, 2015 Mercedes ML350 (wife's)
I haven't called BMWFS but I thought about the following scenario if I decided to wait until the end of lease :
1) I'll probably be 6000 km over the lease limit, which translates into a 900CAD penalty... not that bad.
2) What worries me more is that warranty ends at 80000km, which is 4 months before returning it. This is the main reason why I wanted to get rid of the lease. Maybe I'll be lucky enough not to have any problems during those 4 months
3) My rear summer tires are worn out and need to be changed. I can either fork out 1000CAD to change them and bring the car back with new tires, or install them very late (late april) at spring time and survive 2 months on them (until early july to bring the car back). I would then return the car to BMW and hope my excess wear and tear coverage would save my a$$. Or else I'd pay that 1000 CAD.
4) I can also hope the excess wear and tear coverage would cover the damage to the right door/fender. Or else I'd have to absorb the repairs...
5) The BMW dealer would absorb the decreased value of the car since it's been in an accident. This is a big plus of bringing it back to them instead of selling it to MB.
Since MB would be buying my lease and the car has a reported accident, I'm sure value will take a hit and I'll be upside down no matter how much the MB dealer tries to be nice with me (I'm thinking at least a couple thousands)...
So instead of that I could survive with the BMW until the end of lease and maybe save me a couple thousand dollars (even if I have to pay excess mileage and maybe worn out tires) on negative equity.
What do you all think?
1) I'll probably be 6000 km over the lease limit, which translates into a 900CAD penalty... not that bad.
2) What worries me more is that warranty ends at 80000km, which is 4 months before returning it. This is the main reason why I wanted to get rid of the lease. Maybe I'll be lucky enough not to have any problems during those 4 months
3) My rear summer tires are worn out and need to be changed. I can either fork out 1000CAD to change them and bring the car back with new tires, or install them very late (late april) at spring time and survive 2 months on them (until early july to bring the car back). I would then return the car to BMW and hope my excess wear and tear coverage would save my a$$. Or else I'd pay that 1000 CAD.
4) I can also hope the excess wear and tear coverage would cover the damage to the right door/fender. Or else I'd have to absorb the repairs...
5) The BMW dealer would absorb the decreased value of the car since it's been in an accident. This is a big plus of bringing it back to them instead of selling it to MB.
Since MB would be buying my lease and the car has a reported accident, I'm sure value will take a hit and I'll be upside down no matter how much the MB dealer tries to be nice with me (I'm thinking at least a couple thousands)...
So instead of that I could survive with the BMW until the end of lease and maybe save me a couple thousand dollars (even if I have to pay excess mileage and maybe worn out tires) on negative equity.
What do you all think?
