[RockymountainRob]

Well after realizing my residual (43k) and the blue book of car was (55k) all I needed was to locate my new car!
Not only released from contract several months early we got 7k for it!! Was incredibly happy and so was my sore ass! X4M has prob worst (concrete like)
Seats I've ever had! If your unhappy in your lease checkout your numbers, could surprise you!
Reg M, 17,700 miles on a 3yr/36k…. Super happy

[cardtables]

Did you have the Sport seats or the non-comp ones?

[Lifted]

My seats don't bother me one bit

[2020X3MCDG]

Only 55K for trade/buy out? How many miles? Just a reg M?

They will probably turn around and sell if to 65K+.

Either way if you're happy that's all that matters.

I am going to be looking into some of these options here pretty soon too. Lease is up around May of Next year. I may just keep it though.

[alex2364]

You’re doing something wrong if you don’t have positive equity on a lease from 2 years ago.

[Soylent]

Originally Posted by Lifted

My seats don't bother me one bit

Me too. Now by far the worst, most uncomfortable, seats on the planet were the X5 from the 2000's.

[kozzi]

Going to buy out my 2021 F97 X3MC and skip the LCI until the new G97 release in @2025.

[FrankieNuo]

Originally Posted by kozzi

Going to buy out my 2021 F97 X3MC and skip the LCI until the new G97 release in @2025.

Good call! Considering the same or moving to an m3. I want an ice before everything is hybrid.

[Kevin_The_Clean1]

Excellent topic here fellas. If there's positive equity in a 2021 X3 MC & I want to terminate that lease early, but not buy another car from BMW at the time of that transaction, Do I still get to pocket that difference... ?

I'm keeping my 2020 X3 MC (purchased) & getting rid of my 2021 X3M leased) - if that helps provide clarity!

[kozzi]

Originally Posted by Kevin_The_Clean1

Excellent topic here fellas. If there's positive equity in a 2021 X3 MC & I want to terminate that lease early, but not buy another car from BMW at the time of that transaction, Do I still get to pocket that difference... ?

I'm keeping my 2020 X3 MC (purchased) & getting rid of my 2021 X3M leased) - if that helps provide clarity!

Absolutely. IMO I would buy out the 21 X3MC (at lease end if you can wait) and sell either privately so that you can get whatever you want. Take a look at current market prices (depending on condition, mileage etc.). These SAVs are retaining value well over their residual.

Not sure how it would translate with terminating a lease early because I'm sure there are fees etc. so that's why I'm going to wait until lease end.

Thoughts from anyone appreciated.

[RockymountainRob]

Originally Posted by cardtables

Did you have the Sport seats or the non-comp ones?

Originally Posted by 2020X3MCDG

Only 55K for trade/buy out? How many miles? Just a reg M?

They will probably turn around and sell if to 65K+.

Either way if you're happy that's all that matters.

I am going to be looking into some of these options here pretty soon too. Lease is up around May of Next year. I may just keep it though.

Reg m, sport seats

[RockymountainRob]

Originally Posted by kozzi

Absolutely. IMO I would buy out the 21 X3MC (at lease end if you can wait) and sell either privately so that you can get whatever you want. Take a look at current market prices (depending on condition, mileage etc.). These SAVs are retaining value well over their residual.

Not sure how it would translate with terminating a lease early because I'm sure there are fees etc. so that's why I'm going to wait until lease end.

Thoughts from anyone appreciated.

If you want to buy it out, why wait? If your under 12,500 miles it's considered "near new"and could prob flip it easy. Wasn't a risk I wanted to take, and I needed a replacement vehicle. No fees because your not "breaking contract." In fact all the lease end coverage I purchased was in effect even though it was 5 months early.

[Kevin_The_Clean1]

Originally Posted by RockymountainRob

If you want to buy it out, why wait? If your under 12,500 miles it's considered "near new"and could prob flip it easy. Wasn't a risk I wanted to take, and I needed a replacement vehicle. No fees because your not "breaking contract." In fact all the lease end coverage I purchased was in effect even though it was 5 months early.

You see, that's the thing... no one yet has read my question correctly, based of what I've seen. I don't want to buy out this lease on my 2021. I really don't have that kind of cash readily available one hand + the taxes (their pretty high here in California).

My question was, how & will I be able to cash in on the positive equity for this leased 2021 if I were to break the lease early... ? And not buy another car from BMW nor buy this lease out. Hope this makes sense...

[jzmundy]

Originally Posted by Kevin_The_Clean1

You see, that's the thing... no one yet has read my question correctly, based of what I've seen. I don't want to buy out this lease on my 2021. I really don't have that kind of cash readily available one hand + the taxes (their pretty high here in California).

My question was, how & will I be able to cash in on the positive equity for this leased 2021 if I were to break the lease early... ? And not buy another car from BMW nor buy this lease out. Hope this makes sense...

Really the only way to break the lease early without buying it out or making all remaining payments is to take the car to your preferred BMW dealer to see what they'd give you for it (understanding this is a one-way transaction and you won't be purchasing a car from them in return). I imagine most would be happy to have the car and would give you a fair trade-in value, cutting you a check for the equity.

BMW Financial used to be a little more flexible in how you could approach this in that it wasn't always the case you had to "trade in" the car at a BMW dealer, as above. Instead, you could take it to virtually any dealer who would then pay off the lease on your behalf to BMWFS.

Thanks to the today's market, BMWFS has locked you into work with a BMW dealer only.

[clevemont]

Originally Posted by jzmundy

Really the only way to break the lease early without buying it out or making all remaining payments is to take the car to your preferred BMW dealer to see what they'd give you for it (understanding this is a one-way transaction and you won't be purchasing a car from them in return). I imagine most would be happy to have the car and would give you a fair trade-in value, cutting you a check for the equity.

BMW Financial used to be a little more flexible in how you could approach this in that it wasn't always the case you had to "trade in" the car at a BMW dealer, as above. Instead, you could take it to virtually any dealer who would then pay off the lease on your behalf to BMWFS.

Thanks to the today's market, BMWFS has locked you into work with a BMW dealer only.

Would you still need to pay a sales tax on the equity that they would be paying you out for?

[jzmundy]

Originally Posted by clevemont

Would you still need to pay a sales tax on the equity that they would be paying you out for?

Not that I'm aware of, but probably dependent on the state. Certainly not the case in North Carolina.

[bmw-again]

Guys I just did this on my 20 m550. Had 7 payments left residual was 47300 at end February of 23. Called BMW financial gave me a buyout of 47300 plus my 7 payments left plus tax on total owed. Disposition fee waived. BMW dealer bought lease out cut me check for almost 10k. I usually turn my lease in order another car but for anyone that leased in 20 there is money to be made. My car only had 9k miles on it so it was like new. I had multiple dealers who wanted it and I believe I could have got more but I was happy with 10k of free money. It's only a quick call to BMW Financial they will give you all info you need.

[clevemont]

Originally Posted by bmw-again

Guys I just did this on my 20 m550. Had 7 payments left residual was 47300 at end February of 23. Called BMW financial gave me a buyout of 47300 plus my 7 payments left plus tax on total owed. Disposition fee waived. BMW dealer bought lease out cut me check for almost 10k. I usually turn my lease in order another car but for anyone that leased in 20 there is money to be made. My car only had 9k miles on it so it was like new. I had multiple dealers who wanted it and I believe I could have got more but I was happy with 10k of free money. It's only a quick call to BMW Financial they will give you all info you need.

No taxes paid on that $10k?

[bmw-again]

I dont believe you pay tax because I didnt own it and i never bought it out. The dealer paid off my lease and gave me 10k to have the car. I did some research on it and I dont think I will have to.

[f82fanatic]

Originally Posted by clevemont

No taxes paid on that $10k?

I believe this is state dependent.

In FL, if you sell a lease to a dealership you don't pay taxes. The payoff amount is lower than if you bought it yourself.

I did this myself and they gave me a different payoff for both of these options.

[f82fanatic]

Originally Posted by jzmundy

Really the only way to break the lease early without buying it out or making all remaining payments is to take the car to your preferred BMW dealer to see what they'd give you for it (understanding this is a one-way transaction and you won't be purchasing a car from them in return). I imagine most would be happy to have the car and would give you a fair trade-in value, cutting you a check for the equity.

BMW Financial used to be a little more flexible in how you could approach this in that it wasn't always the case you had to "trade in" the car at a BMW dealer, as above. Instead, you could take it to virtually any dealer who would then pay off the lease on your behalf to BMWFS.

Thanks to the today's market, BMWFS has locked you into work with a BMW dealer only.

This is correct.

However, I tried doing this for a friend in Florida and the BMW dealerships that I contacted would not purchase a car outright. They wanted it as a trade… they want to sell a car too out of the transaction.

[Kevin_The_Clean1]

Originally Posted by jzmundy

Really the only way to break the lease early without buying it out or making all remaining payments is to take the car to your preferred BMW dealer to see what they'd give you for it (understanding this is a one-way transaction and you won't be purchasing a car from them in return). I imagine most would be happy to have the car and would give you a fair trade-in value, cutting you a check for the equity.

BMW Financial used to be a little more flexible in how you could approach this in that it wasn't always the case you had to "trade in" the car at a BMW dealer, as above. Instead, you could take it to virtually any dealer who would then pay off the lease on your behalf to BMWFS.

Thanks to the today's market, BMWFS has locked you into work with a BMW dealer only.

Completely understood & this makes sense. Now I just have to find out if we have to pay taxes here in CA.

Originally Posted by bmw-again

Guys I just did this on my 20 m550. Had 7 payments left residual was 47300 at end February of 23. Called BMW financial gave me a buyout of 47300 plus my 7 payments left plus tax on total owed. Disposition fee waived. BMW dealer bought lease out cut me check for almost 10k. I usually turn my lease in order another car but for anyone that leased in 20 there is money to be made. My car only had 9k miles on it so it was like new. I had multiple dealers who wanted it and I believe I could have got more but I was happy with 10k of free money. It's only a quick call to BMW Financial they will give you all info you need.

I will be calling BMWFS shortly to see what the difference is in positive equity.