BMW lease buyout

didii · Today, 03:24 AM

Hello All,

I am currently looking into lease transfer/buyout options. I have a 2023 bmw x1 and I leased my car in jan 2024 in Vancouver, BC. Based on what I’ve read on the internet, BMW does not allow 3rd party buyouts. I haven’t found the actual statement on bmw.ca yet. I was wondering if that’s true and if my only option is to either find someone to transfer the lease to or make the remaining payments on the lease term to end my lease early. Could anyone advise on this?

Bc2005 · Today, 07:27 AM

Just to be clear. So you want to get rid of the car?

You can always get a loan and buy it out yourself, if you just want to get out of the lease. But then you have a loan.

didii · Today, 01:08 PM

Quote:

Originally Posted by Bc2005

Just to be clear. So you want to get rid of the car?

You can always get a loan and buy it out yourself, if you just want to get out of the lease. But then you have a loan.

Yes. I no longer want to make payments on the car

tturedraider · Today, 01:11 PM

Quote:

Originally Posted by didii

Yes. I no longer want to make payments on the car

You can payoff the lease and take ownership of the car. That’s not a problem.

DocL · Today, 01:14 PM

Quote:

Originally Posted by didii

Yes. I no longer want to make payments on the car

Cars don't float.

didii · Today, 01:21 PM

Quote:

Originally Posted by tturedraider

You can payoff the lease and take ownership of the car. That’s not a problem.

The issue is that I am currently in a tight situation and definitely don’t have that kind of cash. I want to get out of the lease without having to make the remaining payments. I know other brands accept 3rd party buyouts but I’ve been reading online that bmw doesn’t.

didii · Today, 01:26 PM

Quote:

Originally Posted by DocL

Cars don't float.

I understand, but I’ve also read some threads that people have gone to third parties for the buyout so I know it is/was possible. Might depend on the province/state I guess.

xander_g · Today, 01:30 PM

https://www.leasebusters.com/

tturedraider · Today, 03:35 PM

Quote:

Originally Posted by didii

The issue is that I am currently in a tight situation and definitely don’t have that kind of cash. I want to get out of the lease without having to make the remaining payments. I know other brands accept 3rd party buyouts but I’ve been reading online that bmw doesn’t.

Unless things are different in Canada, and I doubt they are, you will have to go through BMWFS and have someone assume your lease. This is a pretty easy process. Swap-a-Lease is popular in the US for finding someone to take your lease. I’m sure there are similar sites in Canada. But, again, unless things are different in Canada, you won’t be able to sell your car to a non-BMW dealer or use it as a trade-in.

BMWCCA1 · Today, 06:04 PM

There is no such thing as a free lunch . . . or lease termination. It will cost you. Why would anyone just take over your payments when they could have a new BMW maybe even for less money? Just make sure whoever does the buyout that you are not responsible for the car if the next lessee decides to take a walk, too. Most likely at best, you'll lose whatever security deposit you paid at inception.

Today, 03:24 AM	#1
didii Registered 0 Rep 5 Posts Drives: bmw x1 Join Date: Nov 2024 Location: Vancouver iTrader: (0)	BMW lease buyout Hello All, I am currently looking into lease transfer/buyout options. I have a 2023 bmw x1 and I leased my car in jan 2024 in Vancouver, BC. Based on what I’ve read on the internet, BMW does not allow 3rd party buyouts. I haven’t found the actual statement on bmw.ca yet. I was wondering if that’s true and if my only option is to either find someone to transfer the lease to or make the remaining payments on the lease term to end my lease early. Could anyone advise on this?
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Today, 07:27 AM	#2
Bc2005 Lieutenant 383 Rep 452 Posts Drives: 2021 M340i Join Date: Jun 2021 Location: Virginia iTrader: (0)	Just to be clear. So you want to get rid of the car? You can always get a loan and buy it out yourself, if you just want to get out of the lease. But then you have a loan.
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Today, 01:30 PM	#8
xander_g Major 1074 Rep 1,160 Posts Drives: G30 M550i Join Date: Oct 2016 Location: Toronto iTrader: (2) Garage List 2018 BMW M550i Xdrive [0.00]	https://www.leasebusters.com/
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Today, 06:04 PM	#10
BMWCCA1 BMW Owner Since 1971 2519 Rep 1,521 Posts Drives: 1964 700 Sport Cabriolet Join Date: Apr 2014 Location: Central Virginia iTrader: (2) Garage List 2013 BMW 128i [10.00]	There is no such thing as a free lunch . . . or lease termination. It will cost you. Why would anyone just take over your payments when they could have a new BMW maybe even for less money? Just make sure whoever does the buyout that you are not responsible for the car if the next lessee decides to take a walk, too. Most likely at best, you'll lose whatever security deposit you paid at inception.
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