Some points to ponder:
- I would seriously consider keeping the car and paying for the overage, unless you're getting something better. I'm thinking that your new job pays more, so why not just live it up a little? What's $1000 here or there going to do in the big scheme of things?
- I have sold 4 BMW leases. I have always used Craigslist (San Francisco and Dallas markets). It's free, effective, easily updated, and I deal with locals. Put the car up, and see what responses you get. It usually takes about 2-4 weeks to find the final buyer.
- It gets easier the more leases you transfer. Anticipate a learning curve if this is your first transfer.
- If you view this as a chore, it will be. But if you take this as being able to meet some different people, and help them get into a BMW at a discount, you'll enjoy it a lot more. If you always wanted your sales person to be honest and ethical, here's your chance to put on those shoes and do likewise.
- In all the leases I've sold, I've always had the purchaser pay for the lease transfer fee, all my MSDs, and some more money out of pocket. All up front.
- I've always priced my leases aggressively. They are about 15-20% what a person could lease a new car just above invoice for (US delivery) taking into account any promotions at that time. I don't factor in BMWCCA and OLP rebates, since most people don't have these discounts. So if a new lease is about $600/month, price it so that your lease works out to be about $500/month all things considered. Lease transfer fee should be paid by the purchaser, since they would have had to pay a higher acquisition fee with a new lease.
- I have a canned polite response to low ballers. "Thank you for your interest. I'm not in a financial rush to sell, so must reject your offer at this time. However, I'm committed to offering the best lease transfer deal. So if you see a better comparable offer, please let me know, and I will do my best to beat it". I remember working with one low baller. They were kicking themselves once I told them I sold the car, and regretted not having taken my offer.
- My response to someone who asks what the lowest amount you would take? "I could give the car away if I wanted to. Money is not an issue. What I'd like to do is to find someone who recognizes that my deal is unbeatable and appreciates the car".
- At the end of the day, you only need to find 1 person who will accept your offer - not 10. Don't feel pressured to take the first offer. It's not as though there are 5 lease transfers out there for folks to shop around (assuming your offer is the lowest anywhere).
- There is a lot of truth about folks preferring less money up front. The next time you lease, roll in the acquistion and registration fee into the lease. That way whoever assumes your lease will be paying for part of those costs for you.
2012 ActiveHybrid 750i ED
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Last edited by chrischeung; 06-08-2012 at 11:33 AM.