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mindsmile
11-21-2011, 07:44 AM
Can someone recommend how to break a lease??
Only 20 months left on my current lease

jadnashuanh
11-21-2011, 12:50 PM
The means (if there is one at all) and potential penalties will be listed in the lease contract...you may be stuck. It may or may not allow you to sublease it, but that may not get you clear if the subleasee defaults.

Wardman
11-21-2011, 12:55 PM
Call BMW Financial and tell them you are going to stop making payments for one reason or another. I think the security deposit is all you may lose.

jadnashuanh
11-21-2011, 02:25 PM
Contracts, at least after the initial grace period, are by nature tough to get out of and those means are listed in the contract. If you default, they have every right to sue you and impact your credit rating. If you wanted to buy a new BMW, they'd probably work something out. Doesn't hurt to ask, and you may get lucky.

Wardman
11-21-2011, 02:34 PM
True - I also think it is state by state based upon how to get out of a lease. Then there is this place : http://www.leaseguide.com/lease15.htm

Maybe they have some ideas for you.

Molotov2k
11-27-2011, 07:40 AM
Try leasetrader.com or swapalease.com.

If your buyout quote is close to car's market value you can also try to trade it in (thats what I did with my X3) or sell it on your own.