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      04-23-2012, 09:52 AM   #1
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Hi,

I just leased a bran new 2012 z4 convertible with premium package , sport package , navi ... But I do not Want to keep the car .. If anyone interested, please let me know ... Lease payments are 691 pm with 7000 down payment with 12000 miles a year . Currently it has170 miles on it .. It's black on black ... Can send you pics I'd you want ...

This also covers lease wear and tear upto 5000 ...

Harsh
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      04-23-2012, 10:34 AM   #2
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Quote:
Originally Posted by harshmehta View Post
Hi,

I just leased a bran new 2012 z4 convertible with premium package , sport package , navi ... But I do not Want to keep the car .. If anyone interested, please let me know ... Lease payments are 691 pm with 7000 down payment with 12000 miles a year . Currently it has170 miles on it .. It's black on black ... Can send you pics I'd you want ...

This also covers lease wear and tear upto 5000 ...

Harsh
Better to post this in the classified ad section. 170 miles? Damn, give the car a chance!
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      04-23-2012, 11:04 AM   #3
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this is very expensive, down payment alone is a deal breaker!

good luck!
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      04-23-2012, 11:23 AM   #4
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Quote:
Originally Posted by ZheHbKa
this is very expensive, down payment alone is a deal breaker!

good luck!
Lease is for two years that's why a bit high ... But u get twin turbo engine ... It's awesome ... My coffee glass was shaking just by the sound of it along with shearing wheel when I stopped at a light ... So I guess kinda justifies itself ...
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      04-23-2012, 08:01 PM   #5
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surely you can get out of it, why dont you like ?, and if you plan on another Bm, can they not take it back and choose a different model
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      04-23-2012, 09:01 PM   #6
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Quote:
Originally Posted by harshmehta View Post
Lease is for two years that's why a bit high ... But u get twin turbo engine ... It's awesome ... My coffee glass was shaking just by the sound of it along with shearing wheel when I stopped at a light ... So I guess kinda justifies itself ...
You don't have to sell us on it...we all drive the same car! If your car is shaking so much while idling at a stop light, you've got a problem. BMW engines run too smoothly to do that. What's your issue with the car?
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      04-23-2012, 11:18 PM   #7
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Isn't there a lease selling service (or something like that )

I read about it on the board here somewhere

Sorry I don't have more specifics
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      04-24-2012, 01:42 AM   #8
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Quote:
Originally Posted by jparnes1 View Post
You don't have to sell us on it...we all drive the same car! If your car is shaking so much while idling at a stop light, you've got a problem. BMW engines run too smoothly to do that. What's your issue with the car?
i do not have any issues with the car ... it was just an impulsive decision ... and i though i should get something more practical ...
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      04-24-2012, 10:32 AM   #9
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swapalease.com might be a better choice... It might be a better choice than on here, as I think most leases I've read about on these boards have better rates. For example, and mine isn't the best I've heard of, I have a similar car as you do, sDrive 35i + sport, prem, navi, 19" tire, cold weather, and I pay more than $150 less than you do a month, and paid less than half of your downpayment. Also have a two year lease.
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      04-24-2012, 11:43 AM   #10
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Quote:
Originally Posted by egtownsend View Post
swapalease.com might be a better choice... It might be a better choice than on here, as I think most leases I've read about on these boards have better rates. For example, and mine isn't the best I've heard of, I have a similar car as you do, sDrive 35i + sport, prem, navi, 19" tire, cold weather, and I pay more than $150 less than you do a month, and paid less than half of your downpayment. Also have a two year lease.
boy i surely made a bad deal ... but now i am confused if i trade in a car, get a lease , and transfer it, what will happen to my credit score... whatever i get next, i'll get extremely high APR...
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      04-24-2012, 01:16 PM   #11
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hey guys, do you think it is a good idea to keep the car for a while an then transfer the lease say when around 15-18 moths are remaining or should i try to get it done now... how easy/hard will it be afterwards ?
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      04-24-2012, 01:28 PM   #12
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Quote:
Originally Posted by harshmehta View Post
hey guys, do you think it is a good idea to keep the car for a while an then transfer the lease say when around 15-18 moths are remaining or should i try to get it done now... how easy/hard will it be afterwards ?
Whether you attempt to unload it now or several months from now, your biggest hurdle is going to be to find someone willing to shell out $7k and pay close to $700 per month for a Z4.
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      04-24-2012, 01:40 PM   #13
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Quote:
Originally Posted by Kief View Post
Whether you attempt to unload it now or several months from now, your biggest hurdle is going to be to find someone willing to shell out $7k and pay close to $700 per month for a Z4.
+1
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      04-24-2012, 04:21 PM   #14
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Quote:
Originally Posted by harshmehta View Post
boy i surely made a bad deal ... but now i am confused if i trade in a car, get a lease , and transfer it, what will happen to my credit score... whatever i get next, i'll get extremely high APR...
Unless this is the largest singular debt you have, it's unlikely that your score will be affected by changing cars mid-lease. That said you got approved for this lease, and the credit score is updated on a 30 day basis. If you haven't missed any payment thus far, you'll probably be approved by BMW for a trade-in or something. You're still the guy they loaned a Z4 to for two years.

I would recommend going back to the dealer. See if you can't work it so your payment stays the same and you get into a more practical 3 or 5 series. New 328 sounds cool. $700+/month for a 3 is outrageous, maybe you could get less without having to put any additional monies down?

Keep in mind, summer is coming. It's much easier for that dealer to unload a Z4 now than in 6 months. And with the dearth of available used cars on the market, they might be anxious for something to push at weekend and sale customers.
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      04-24-2012, 06:29 PM   #15
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Quote:
:
Originally Posted by Kief
Whether you attempt to unload it now or several months from now, your biggest hurdle is going to be to find someone willing to shell out $7k and pay close to $700 per month for a Z4.
+1
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Very true ... on a lease there is normally a recommended incentive like $2K to $4K rather then a $7K down ... it will be very difficult.

If he goes back to the dealer then his car will be appraised, let us say they apraise it at $55K and he still owes $57K for him to get out of the lease he would have to pay the dealer $2K plus tax and some dollars to handle the early lease closure to get out of it. I know those details from trying a company car lease early return some years ago.

On the other hand if you just leased this car (the way I understand) you can return it to the BMW dealer and rent another one with very if any financial loss. You should discuss this with the salesman that arranged the lease on your car you have now. It might be the best avenue of attack. Let us know how you make out, it might be good information for others here on this board.

In Canada we have LeaseBusters you pay $300- and they help you get out of a lease must be the same in the USA.

In Canada to turn a leased car in early at a dealership is very expensive. If one returns early and leases another car no additional expenses are encured other then to cover the dealers paperwork.

I see you also posted here, only no details. Show some photos and more details like this fellow did ---> Click to have a look at his Post

Someone peeking in from your area or close to it might be looking for one.

Good Luck

Quote:
Originally Posted by harshmehta View Post
i do not have any issues with the car ... it was just an impulsive decision ... and i though i should get something more practical ...
From your note here I think your best bet would be a meeting with your original salesman/lease individual to resolve your problem. BMW has many practical cars that will serve you just fine.
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Last edited by Mr. ///M3 RD; 04-24-2012 at 07:04 PM.. Reason: added last post. Also modified content
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      04-24-2012, 07:04 PM   #16
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This is a terrible situation. What was the original msrp of the car?

Your down payment is outrageous. Putting down that kind of money on a lease is a poor financial decision.

I agree with others saying to go back to the dealer and see what they are willing to do. I would take the hit now rather then later. Either way I don't see someone taking over the lease and handing you more then 2 or 3 thousand.
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      04-24-2012, 07:16 PM   #17
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Quote:
Originally Posted by harshmehta View Post
hey guys, do you think it is a good idea to keep the car for a while an then transfer the lease say when around 15-18 moths are remaining or should i try to get it done now... how easy/hard will it be afterwards ?
In addition to what others have said about making the change now instead of waiting, BMWFS won't allow a change in the lessee during the final 6 months of a contract.
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      04-24-2012, 10:10 PM   #18
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Quote:
Originally Posted by egtownsend View Post
swapalease.com might be a better choice... It might be a better choice than on here, as I think most leases I've read about on these boards have better rates. For example, and mine isn't the best I've heard of, I have a similar car as you do, sDrive 35i + sport, prem, navi, 19" tire, cold weather, and I pay more than $150 less than you do a month, and paid less than half of your downpayment. Also have a two year lease.
+1

In the past, I've always used swapalease.com to get out of a lease early. It's really easy and doesn't take long as long as you have an attractive lease. Most people want zero down or if you can offer an incentive to take over your lease. Check it out: www.swapalease.com

Sounds like the dealership to you to the cleaners with such a large down. Are you sure some of that is not a deposit you can get back at the end of the lease. I know there are some leases where you can further lower the lease payment by adding a security deposit. Anyways.....Good Luck!
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Last edited by flpnout; 04-24-2012 at 10:33 PM..
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      04-24-2012, 10:17 PM   #19
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Quote:
Originally Posted by Alter Peter
Quote:
:
Originally Posted by Kief
Whether you attempt to unload it now or several months from now, your biggest hurdle is going to be to find someone willing to shell out $7k and pay close to $700 per month for a Z4.
+1
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Very true ... on a lease there is normally a recommended incentive like $2K to $4K rather then a $7K down ... it will be very difficult.

If he goes back to the dealer then his car will be appraised, let us say they apraise it at $55K and he still owes $57K for him to get out of the lease he would have to pay the dealer $2K plus tax and some dollars to handle the early lease closure to get out of it. I know those details from trying a company car lease early return some years ago.

On the other hand if you just leased this car (the way I understand) you can return it to the BMW dealer and rent another one with very if any financial loss. You should discuss this with the salesman that arranged the lease on your car you have now. It might be the best avenue of attack. Let us know how you make out, it might be good information for others here on this board.

In Canada we have LeaseBusters you pay $300- and they help you get out of a lease must be the same in the USA.

In Canada to turn a leased car in early at a dealership is very expensive. If one returns early and leases another car no additional expenses are encured other then to cover the dealers paperwork.

I see you also posted here, only no details. Show some photos and more details like this fellow did ---> Click to have a look at his Post

Someone peeking in from your area or close to it might be looking for one.

Good Luck

Quote:
Originally Posted by harshmehta View Post
i do not have any issues with the car ... it was just an impulsive decision ... and i though i should get something more practical ...
From your note here I think your best bet would be a meeting with your original salesman/lease individual to resolve your problem. BMW has many practical cars that will serve you just fine.
Do you guys know if someone did this in USA/California ? Msrp is 58 and miles I have is 207.. How much hit do you think I will take ?
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      04-25-2012, 02:03 PM   #20
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What are the residual and MF now?

on my z4, I did 2k drive off 650/month with 8.75% LA County tax included.
Tire/wheel insurance plus lease end wear and tear included.

if i didn't get the insurance and wear and tear, drive off would have been around $800/month.

MSRP on my Z4 is about $65k
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      04-25-2012, 02:20 PM   #21
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Quote:
Originally Posted by harshmehta View Post
Do you guys know if someone did this in USA/California ? Msrp is 58 and miles I have is 207.. How much hit do you think I will take ?
MSRP is $58k and you put a $7k down and still paying $691 mothly? From your initial post when you postet the down and monthly I thought the cars MSRP would have been $68k or more and you got the deal down to around $64k of that or something. That is insane.
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      04-25-2012, 03:15 PM   #22
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I know I made a really bad deal ... And unfortunately I do not see a way out

i lost what around 3-4K in this deal ?

Last edited by F30_APSL; 04-25-2012 at 03:35 PM..
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