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Old 02-13-2013, 12:16 AM
tturedraider's Avatar
tturedraider tturedraider is offline
Freedom isn't free!!
Location: Chicago, north shore (via Tennessee & Texas)
 
Join Date: Nov 2005
Posts: 15,435
Mein Auto: '06 Sonora/Beige 330i :-)
Quote:
Originally Posted by fatsooo View Post
Fool!
Unnecessary.

Quote:
Originally Posted by BashedBarrique View Post
I understand if you don't want to give financial details (like the lease buy out amount) but it's hard to give advice without it.

The bottom line is really if you think the buy out price is worth it to you and if you can afford it. In other words, will buying it put you in a postion where you are making sacrifices you are not willing to make to keep the car.

It is a beautiful car, and it sounds like you have taken good care of it. But ultimately you have to do what's smart for your life, which may or may not include keeping the car.
He has already "bought" it after the lease by re-leasing it.



OP, the likelihood is high you are royally screwed as far as getting out of this car without incurring substantial losses. Re-leasing/leasing a used car (which is what you did) is a colossally bad financial decision. The guys at Crevier screwed you over. Not knowing the numbers, it is very unlikely the dealer will give you enough to get you out of the car. It is also very unlikely you can sell it outright for enough to pay off the lease balance, but that is probably the scenario with the best likelihood of success.

Two additional options - get your parents to help you out of the mess, or re-finance/borrow the money to pay off the lease with a 60 month purchase loan. If your credit is still good and you have the income to qualify Pentagon Federal CU www.PenFed.org is an excellent source of financing. Anyone can join. They will finance 100% of the NADA retail value of the car and they are offering 1.49% for 60 months right now.

Good luck.

You've been a Bimmerfest member for five years. You have a great resource here. You should have asked for advice at the end of your lease. Please, don't make the same mistake again.
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Last edited by tturedraider; 02-13-2013 at 12:27 AM.
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