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  #1  
Old 02-03-2004, 09:02 AM
SteveMD SteveMD is offline
Cheapassaurus Rex
Location: Maryland
 
Join Date: Apr 2002
Posts: 128
Mein Auto: E34
Let Buyer Buy car or take over lease?

As you guys may know, BMWFS will let a qualified person take over your lease and you have no liability at all. There is a $450 fee involved, though.

I live in Maryland and have a buyer for my 330i. He could also take over my lease.

I am trying to determine which is best for me. I am not a financial whiz. I do know I seem to have paid tax up front when I got the lease. There is no tax in my lease payments.

Thanks in advance for any advice.
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  #2  
Old 02-04-2004, 03:19 PM
01Byte's Avatar
01Byte 01Byte is offline
Pastafarian Extraordinair
Location: Phila, Pa
 
Join Date: Jun 2003
Posts: 2,341
Mein Auto: 335d
I was faced with the same question. I chose to let the guy take over my lease. Here's why... usually (at least in my case) the payoff amount is much higher then the price that you can sell the car for. This means you would have to pay the difference in order to sell the car. When someone takes over your lease the payoff amount does not matter. So, for me it was either fork over 4,000 grand or pay 450.00 bucks.

Also, if you go the buy route you will still pay tax on the payoff amount. With the payment takeover route there is no tax to mess with...

Hope this helps and good luck!!
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