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European Delivery
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  #1  
Old 02-12-2013, 02:09 AM
devla devla is offline
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Location: new york
 
Join Date: Jul 2008
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Mein Auto: 2011 X3 M Sport
Short term leases

Guys
My plan was for a late spring ED but my current car gave in. I need something to bridge the time between now and when I get my car - May.

Any ideas? Monthly leases from Avis or Hertz seem to be too expensive.

Thanks
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  #2  
Old 02-12-2013, 02:23 AM
neurom neurom is offline
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Location: New England
 
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Mein Auto: 2013 911 C2S
Swapalease or lease trader. I have bridged a 6-8 month gap twice through swap a lease while waiting for ED. You have to do a minimum of 6 months for most cars. I am currently bridging for 8 months paying $495/month for a 328 xdrive while waiting for a June M5 ED. There are tons of options in New York. Good luck.
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Old 02-12-2013, 03:17 AM
devla devla is offline
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Location: new york
 
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Thanks. Never leased before, let alone taking over someone else's lease. What traps should I look out for?
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  #4  
Old 02-12-2013, 03:30 AM
neurom neurom is offline
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The process with leasetrader is seamless, most important thing is that the person you are dealing with appears motivated, which you can sense by seeing how they respond to emails and how they sound over the phone. I had to pass on a couple because they were wishy-washy, but on both occasions was able to complete the process in two weeks after dealing with the right person. I did the swaps without seeing the cars, in New York you will have so many options that you probably can see the car before going through the process to make sure there is no major dings, scratches, excess tire treadwear, etc, which may cost you at the end of the lease. The site gives you the option of paying for inspection before, but again in NY you will likely have tons of options of vehicles you can go see. Keep in mind if you take over a BMW or Mini lease done with BMW financial services and intend on leasing the your vehicle, they will wave the lease disposition fee for you and you may qualify for loyalty money factor discount, which I believe is a drop on the MF of 0.0002. With that and multiple security deposits you are looking at an interest rate on a lease in the low 2% range, which nowadays makes it hard to justify buying instead (although in NY I think you have to pay tax up front on the whole price rather than on the monthly payment). Are you doing ED in May? if you start the process now you can have your swap by late February and have to lease probably through August, so you will have an overlap of about a month once you get your ED vehicle in the states around July. It is still going to be a lot less expensive than a car rental. Good luck.
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Old 02-12-2013, 03:51 AM
devla devla is offline
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Thanks. This is very helpful. Weighing options now.
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  #6  
Old 02-12-2013, 08:22 PM
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emdreiSMG emdreiSMG is offline
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Location: Orange County, Calif.
 
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Mein Auto: F355 GTS, '11&'14 535Mspt
Keep in mind that leasetrader.com/swapalease.com ads have (typically) cars that are...
a)over mileage(and hence upside-down) or, b)have crummy lease payments because the current lessee didn't negotiate well.
Therefore, many users of these websites are offering incentives-paid as a lump sum- to come close to the 'market' on their car.

Having said that, I am happily in a '11 535 M that bridges my "gap" (from my E63 to an upcoming ED of a new 535i M-sport). I fully expect to negotiate a deal that has me in a car equipped exactly the way I want for a substantially lower payment than the one I took over payments on.
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ED#2 '05 M3 Comp. Pkg. Silver-Gray/Black ED'ed 9/05...Munich/F1 Ital. GP/Lugano/Lucerne/F1 Spa-Cologne
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  #7  
Old 02-13-2013, 07:48 AM
neurom neurom is offline
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Quote:
Originally Posted by emdreiSMG View Post
Keep in mind that leasetrader.com/swapalease.com ads have (typically) cars that are...
a)over mileage(and hence upside-down) or, b)have crummy lease payments because the current lessee didn't negotiate well.
Having gone through the process twice, I would clarify that there is a bit of everything. I have a lease for a 328 I got with 13,200 out of 30,000 used and 10 months to go. At $495 a month with tax included for a fully equipped 328, I would not call that crummy either. There are plenty of options there that are not upside down or have crummy payments, I have to disagree with the conclusion of these comments as being the general thing.
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  #8  
Old 02-13-2013, 09:02 AM
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Asteroid Asteroid is offline
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I think BMW leases can only be transferred if they have > 6 months remaining.
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