Swapalease success rate

[masab321]

How successful is swapalease to get out of your leased car? I recently posted a listing on swapalease to get out of my 2017 530ix lease (9 months left). Fingers crossed now !! Eagerly waiting to purchase used 2018 M4 !!

Does anyone have any experience with successfully getting out of the lease through swapalease?

[9M71]

That really depends how desperate you are to get out of the lease... is swapalease legit? yes. Is it a 100% success rate? definitely not, especially if you didnt price it competitively.

[nickl630]

Originally Posted by masab321

How successful is swapalease to get out of your leased car? I recently posted a listing on swapalease to get out of my 2017 530ix lease (9 months left). Fingers crossed now !! Eagerly waiting to purchase used 2018 M4 !!

Does anyone have any experience with successfully getting out of the lease through swapalease?

really doesnt depend on the website... if you got a good deal on your lease you can get out of it anywhere....

If you are trying to get your 5k down and someone to take over your 530ix for 1300/m and are over mileage... well... good luck with that. lol

[NickyC]

I’d have to imagine any past data would be useless right now considering the accelerating economic collapse. A good guess would we be a lower success rate presently.

[unfoundnemo]

Definitely lower now, especially considering some state DMVs are closed, so if someone was able to assume the lease, getting a plate may be annoying at best. For a 2017 530 now, you're likely just looking for someone that wants to cover a gap with a decent comfortable car until their next car is available, it's not like it's an exciting thing to drive for a few months. Looks like there are a bunch of 2018s that people are giving decent incentives on to take it over, making the effective payments just north of $450, so you're competing with them too.

[porshah]

My last 9 last leases have been through swapalease. 3 of them I got out of and 6 I took over. As mentioned above, deal and incentive has to be attractive. Also, in my case I did all deals locally so that I was able to inspect the vehicle myself, and same for the person that took over my lease. I like making sure the vehicle I am taking over doesn't have "excess wear and tear" this becomes an issue for the person that is holding the vehicle when lease expires and you turn the car in. Also, if you are offering incentive, make sure to clearly state that the incentive will be given after the buyer is fully approved and lease transfer is complete. I will give you an example...on 1 of my lease I had offered to pay for the cost of BMW lease application fee to the potential new buyer...unfortunately the first person was declined by BMW, and I ended up eating the cost. Also if you have any extended warranties or coverages you may have purchased when you leased your vehicle, the new buyer will be responsible for any additional transfer costs (if applicable). Example of that is...I had taken over a lease for 428xi for my son, the original owner had purchased excess wear and tear, but I didn't know I had to contact BMW to have it transferred to me. When I turned the vehicle in, BMW tried to hit me up for some charges. Fortunately in that case I was getting another BMW lease so they waived it. Hope this helps.

[enginediver]

I got my 2018 comp F80 through Swapalease and was very happy. The details made sense to me and they gave me an incentive. Like mentioned above...if your deal is not appealing...it won't go.

[DML]

Originally Posted by masab321

How successful is swapalease to get out of your leased car? I recently posted a listing on swapalease to get out of my 2017 530ix lease (9 months left). Fingers crossed now !! Eagerly waiting to purchase used 2018 M4 !!

Does anyone have any experience with successfully getting out of the lease through swapalease?

Depends upon how desirable your auto is. Is it an "M" car? 530's are pretty much out there, keep your fingers crossed.

[masab321]

I have it listed as 546 per month (after applying 1500 cash incentive) with 11000 miles and 9 months left on lease.

Do you guys suggest increasing the cash incentive?

[clutchdj]

OP If you are purchasing from a dealer, why not ask them to buy you out of the lease. It’s 5400 dollars to get out of the lease is that correct?

[masab321]

Originally Posted by clutchdj

OP If you are purchasing from a dealer, why not ask them to buy you out of the lease. It’s 5400 dollars to get out of the lease is that correct?

Its somewhere around 6K and I checked with one dealer but he denied. Regarding trade in, I did my calculations. I am upside down with high residual and negative equity.

[ferrarifast]

The good thing about your lease seems to be the mileage. 11k miles for 9 months remaining is not a bad proposition. However 5s are leasing extremely well atm + BMW is paying 2 months of payments....SAL is definitely your best option


If you're buying the M4, isn't BMW deferred the payments for at least 90 days? Plus you're putting up like 3 payments for your 5 series in incentives...

Why not just buy the M4 and keep the 530? You effective overlap of payments is only three months

[masab321]

Originally Posted by ferrarifast

The good thing about your lease seems to be the mileage. 11k miles for 9 months remaining is not a bad proposition. However 5s are leasing extremely well atm + BMW is paying 2 months of payments....SAL is definitely your best option


If you're buying the M4, isn't BMW deferred the payments for at least 90 days? Plus you're putting up like 3 payments for your 5 series in incentives...

Why not just buy the M4 and keep the 530? You effective overlap of payments is only three months

The 90 days deferred payment plan applies on selective BMW CPOs and one of the CPO M4s I was interested in didn’t had this incentive !! But I will reach out to some other dealers to inquire about the 90 day deferred payment !!

[oduli81]

Originally Posted by masab321

How successful is swapalease to get out of your leased car? I recently posted a listing on swapalease to get out of my 2017 530ix lease (9 months left). Fingers crossed now !! Eagerly waiting to purchase used 2018 M4 !!

Does anyone have any experience with successfully getting out of the lease through swapalease?

I got rid of my 2018 M3 in 5 weeks, and just today had a 2019 M4 delivered from Iowa, 24 months remaining. But don't forget, covid 19 just eliminated 30 million jobs!

[ferrarifast]

Originally Posted by oduli81

I got rid of my 2018 M3 in 5 weeks, and just today had a 2019 M4 delivered from Iowa, 24 months remaining. But don't forget, covid 19 just eliminated 30 million jobs!

Idk I listed my 2018 M3 sunday morning around 6 am on leasehackr and here.....by noon i had close to ten people wanting to take it over....but BMW had put the transfer process on halt.....well it reopened like two weeks ago, and last monday the buyer filled out the credit app.....the car was gone on saturday. YMMV
Just need to be at the right place at the right time and have some luck.

I had a really aggressive deal and payment....sub $700 pmt and no downpayment with about six months left and 6000 miles.

[oduli81]

Originally Posted by ferrarifast

Idk I listed my 2018 M3 sunday morning around 6 am on leasehackr and here.....by noon i had close to ten people wanting to take it over....but BMW had put the transfer process on halt.....well it reopened like two weeks ago, and last monday the buyer filled out the credit app.....the car was gone on saturday. YMMV
Just need to be at the right place at the right time and have some luck.

I had a really aggressive deal and payment....sub $700 pmt and no downpayment with about six months left and 6000 miles.

Unfortunately i got hit with the NyC tax lol. I literally just had the car delivered this morning. After waiting for BMW Financials to open up.