[Lassaxi]

Here we go....

Originally Posted by beefybmer

Who said it was impossible. READ his original question.

I did read the OP's question. You should try reading your own response:

The only way that the payoff would be close to the trade in value is if he put a lot of money down on the lease.

Then you said this:

The current used car market is bad especially in the luxury car market and if you understand leases and he has 22 payments left.....well I guess you don't understand.

Which demonstrates only that you are not only an obnoxious prick, but also that you can't read. If you had read my entire post (I know, it was long), you would have seen this:

Now, granted, the OP will be better off waiting until he's closer to the end of the lease, but that doesn't mean it's impossible. It depends entirely on the market conditions, and what model you want to transfer from and to.

Again, READING is actually helpful. In fact, I don't think you really disagree with me at all, because, as you said:

Yes people always turn in leases early but you make the remaining payments on that lease . . . (or) if a dealer is desperate they can deduct some payments off of the sales price to make it look like they are paying them unless you negotiate a sales price up front.

And this:

No, it does not hurt to try.

So, next time, before you say something ignorant and obnoxious like this:

In fact that is how people like you learn how this works.

Why don't you take some of your own advice:

OH yeah, next time PLEASE take the BLUE pill.

[halfpast3]

Sorry Lassaxi, I think beefybmer did provide a little better explanation on the situation. You both came to the same conclusion, "yes you can get out of your lease and into a new one" but the details are important. The lease is paid off just like a normal retail installment loan and you are left with equity or negative equity based on the trade value the dealer gives you. The word "transfer" is misleading. The original lease is closed/terminated and the inequity gets carried over into the new lease.

Now kiss and make up

[beefybmer]

Originally Posted by halfpast3

Sorry Lassaxi, I think beefybmer did provide a little better explanation on the situation. You both came to the same conclusion, "yes you can get out of your lease and into a new one" but the details are important. The lease is paid off just like a normal retail installment loan and you are left with equity or negative equity based on the trade value the dealer gives you. The word "transfer" is misleading. The original lease is closed/terminated and the inequity gets carried over into the new lease.

Now kiss and make up

No worries. Him smart, me stupid. I hope I or another CA have the opportunity to "TRANSFER" a lease for him. I'll club him like a baby seal! Sorry, that was mean. I don't take advantage of people. I try to help them down the best path and if they choose another I will give them the best information to do so.

[beefybmer]

In fact, I'm going to add Lassaxitive to my buddy list. Even though he's not too bright he has cahones! And yes, my wife would probably agree with him that I can be an obnoxious prick but I will never just post something if "I don't know what I am talking about".

[Lassaxi]

Originally Posted by beefybmer

No worries. Him smart, me stupid.

You said it, not me.

Look, I don't disagree with a lot of what you said, but here is my real point: It is entirely possible for someone like the OP to call his CA and work something out so that he gets into the car he wants and neither "loses his shorts" nor a huge chunk of change. I know people who have worked out deals where the CA has had an interested buyer, and has been willing to take a leased are back at or near the beginning of the lease (in one case only 3 weeks after the lease began) in order to get the customer into a more expensive model. In each case, all the customer lost was down payment and sales tax. That may or may not be a lot of money depending on how much you put down, but it is by no means losing your shorts. If you're really a CA and you've never heard of this happening, then I don't know what to tell you.

I don't know what the used car market is like in Northern CA. I don't know what condition the OP's car is, how many miles he has on it, or whether his CA could do a quick flip on it or not, which is why I said up front that it may or may not work. But my original point is that there is no harm in him trying, because it could work. Your original point was that it can't work. That's pretty much the beginning and end of our disagreement.

[halfpast3]

No worries. Him smart, me stupid.

You obnoxious prick!

[beefybmer]

Originally Posted by Lassaxi

You said it, not me.

Look, I don't disagree with a lot of what you said, but here is my real point: It is entirely possible for someone like the OP to call his CA and work something out so that he gets into the car he wants and neither "loses his shorts" nor a huge chunk of change. I know people who have worked out deals where the CA has had an interested buyer, and has been willing to take a leased are back at or near the beginning of the lease (in one case only 3 weeks after the lease began) in order to get the customer into a more expensive model. In each case, all the customer lost was down payment and sales tax. That may or may not be a lot of money depending on how much you put down, but it is by no means losing your shorts. If you're really a CA and you've never heard of this happening, then I don't know what to tell you.

I don't know what the used car market is like in Northern CA. I don't know what condition the OP's car is, how many miles he has on it, or whether his CA could do a quick flip on it or not, which is why I said up front that it may or may not work. But my original point is that there is no harm in him trying, because it could work. Your original point was that it can't work. That's pretty much the beginning and end of our disagreement.

Yes, actually it would be a large chunk because what used to be a new car turned into a used car unless they were able to stop the process before it was titled. In that case it would probably be a week or less. If not, your friend lost the money he put down and probably increased his payment from what it would have been originally on the more expensive car.

The original post said he was wondering if he could get out of his lease with 22 payments left and then mentioned he wanted to get into a $750 M3 payment. Well with all of the negative equity and LOW estimate of an M3 payment he should keep his current car and wait it out. So, I stand by the original post and advise him not to do it.

Are we done now?

[beefybmer]

Originally Posted by halfpast3

You obnoxious prick!

Crapp! I guess the cat is out of the bag!

[Lassaxi]

Originally Posted by beefybmer

Yes, actually it would be a large chunk because what used to be a new car turned into a used car unless they were able to stop the process before it was titled. In that case it would probably be a week or less. If not, your friend lost the money he put down and probably increased his payment from what it would have been originally on the more expensive car.

I know you can't believe it's possible not to lose a huge chunk of change, but my example isn't theoretical. It has actually happened, with no commensurate increase in the second lease payment.

The original post said he was wondering if he could get out of his lease with 22 payments left and then mentioned he wanted to get into a $750 M3 payment. Well with all of the negative equity and LOW estimate of an M3 payment he should keep his current car and wait it out. So, I stand by the original post and advise him not to do it.

No one is arguing about the OP's low M3 lease estimate. And an M3 is going to cost more than a 3-series, that's pretty obvious too. But that's got nothing to do with whether or not he can get out of his current car and into the car he wants without taking an unreasonably large hit. I'll say it for the third time: I don't know if he'll be able to do what he wants or not. Heck, I'll even go so far as to agree that it's unlikely that he'll get what he's looking for. But it is possible, it has been done before, and there is no harm in trying. And I stand by all of that too.

Are we done now?

As far as I'm concerned, we are.

[beefybmer]

I know you can't believe it's possible not to lose a huge chunk of change, but my example isn't theoretical. It has actually happened, with no commensurate increase in the second lease payment.

Then it is easy, his car was not titled yet. If someone has 22 months left weather it is a 48,36 or 24 mo. lease it is titled and is now a used car.


No one is arguing about the OP's low M3 lease estimate. And an M3 is going to cost more than a 3-series, that's pretty obvious too. But that's got nothing to do with whether or not he can get out of his current car and into the car he wants without taking an unreasonably large hit.

Yes, he is buried and/or will loose a large chunk of money. It is very simple math.

Let's do this again sometime.

[Lassaxi]

Originally Posted by beefybmer

Let's do this again sometime.

Do what again? Bang my head against a wall while you invent reason after reason why something I know to be true must be wrong? Sounds like fun...

[beefybmer]

Originally Posted by Lassaxi

Do what again? Bang my head against a wall while you invent reason after reason why something I know to be true must be wrong? Sounds like fun...

One thing you find out in this business is that people always pay more for their house and less for their car. Hmmmm That's a thinker.

XOXO

[mike1ny]