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Is it possible to terminate my lease early?

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Old 10-10-2006, 06:32 PM
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Is it possible to terminate my lease early?

Well I just bought an '06 BMW MZ4 and I don't really need my '05 G35 coupe anymore. I hate to let my coupe go but it's not practical for me to keep 2 cars and pay 2 insurances. Sucks that I just installed Pioneer Avic-Z1 navigation on the car not too long ago.

I went to "KIRKLAND INFINITI" in WA to inquire about terminating my lease early, and they said it's only possible to terminate my lease if I were to buy another car from them and since I got the car at Kirkland Inifiniti, I could only terminate my lease and buy another Infiniti there. I asked what if someone was going to re-locate to another country, they said well it'd be just too bad because it's not possible to simply terminate a lease without buying another Infiniti and he'd have to buy from that particular dealer in order to qualify.

Is what they told me true? I don't mind paying a penalty. I just want to get rid of the car. Has anyone been able to successfully terminate a lease?

Thanks in advance! I really appreciate any help.

Last edited by GP20; 10-10-2006 at 06:34 PM.
Old 10-10-2006, 06:40 PM
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You can terminate your lease whenever you want with no exceptions except that big fine you have to pay for early termination
Old 10-10-2006, 07:06 PM
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read ur lease contract. i'm sure there is something in there about early termination. i've heard of people selling their lease vehicles as well.
Old 10-10-2006, 07:18 PM
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Not to offend or anything...

This should have been one of those things you checked ut before buying a new car
Old 10-10-2006, 07:33 PM
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WTF this is why impulse buying isnt smart...dont people think before they buy?
Old 10-10-2006, 08:27 PM
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Quote:
Originally Posted by GregFarz78
WTF this is why impulse buying isnt smart...dont people think before they buy?
Yeah it was impulse buying. But when BMW bought back my '04 Z4 at FULL PRICE (after 25000 miles; BMW gave me $12k more than Infinit was going to give me for trade-in) and let me buy the / at $10K below MSRP, I HAD take advantage of this. The opportunity doens't come around that often.

Last edited by GP20; 10-10-2006 at 08:38 PM.
Old 10-10-2006, 09:59 PM
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Quote:
Originally Posted by GP20
Yeah it was impulse buying. But when BMW bought back my '04 Z4 at FULL PRICE (after 25000 miles; BMW gave me $12k more than Infinit was going to give me for trade-in) and let me buy the / at $10K below MSRP, I HAD take advantage of this. The opportunity doens't come around that often.
The Porsche dealer offered me a 911 TT for $99k. It was just too good of a deal to pass up seeing that they go for $120K. Could I get my wife to believe that

Anyways, the dealer is totally BSing you. Call back and see if you get the same answer. Tell them they're being recorded, ask who they are and their title, and ask how to terminate your lease early. It should be a decent penalty $2-4K, but YOU CAN GET OUT Of IT.
Old 10-10-2006, 10:42 PM
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arent there companies/websites that specialize in lease buyouts where you live?
Old 10-10-2006, 11:17 PM
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or you can post your car on craigslist and hope someone will take over. I see those deals all the time there, 2bad they want to much =/
Old 10-10-2006, 11:35 PM
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After 12 months of payments...Infiniti has this thing called "early lease termination program".
I had a customer that rolled $5000 negative equity into a lease and then did this program 12 payments later and only had to pay $500 to get out of the lease.
Granted it is different in every case, if you have already made 12 payments...check it out.
Old 10-11-2006, 12:54 AM
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A lease is a contract and there are severe penalties to break leases.

Quote:
Originally Posted by GP20
Yeah it was impulse buying. But when BMW bought back my '04 Z4 at FULL PRICE (after 25000 miles; BMW gave me $12k more than Infinit was going to give me for trade-in) and let me buy the / at $10K below MSRP, I HAD take advantage of this. The opportunity doens't come around that often.
Those numbers don't add up

Are you saying they bought a 2-3yr old car with 25k miles for full sticker price? That is absorbing a depreciation of about $20k from trade in value. Doing this would be a HUGE loss for the dealership.

First off, it's not "MZ4", it's a Z4 M Roadster.

The difference between Invoice and MSRP on a 2006 BMW Z4 M Roadster is around $4700 or so. $10k below MSRP would be below their cost. I'm sure if they sell cars that way the dealership would be closing down.

I hope you understand the contract you signed because it appears they got you somewhere and pulled the wool over your eyes!
Old 10-11-2006, 01:25 AM
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Quote:
Originally Posted by skaterbasist
You can terminate your lease whenever you want with no exceptions except that big fine you have to pay for early termination

false....you have to have a nissan/infiniti lease for 1 year before you can do an early termination on the contract. If you are looking to get into another car you can also roll this negitive equity into the next vehicle so it you dont feel it out of pocket.
Old 10-11-2006, 01:50 AM
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Quote:
Originally Posted by kev374

Those numbers don't add up

Are you saying they bought a 2-3yr old car with 25k miles for full sticker price? That is absorbing a depreciation of about $20k from trade in value. Doing this would be a HUGE loss for the dealership.
I bought my '04 Z4 brand new for $42k. It was problematic and I was trying to get rid of it. I called BMWNA and complained and 2 months later they never got back to me. So I tried to trade it in for the G35 coupe, and the Infiniti dealer was going to give me $30K for it at the time (6 months ago).

I felt that $30K for my Z4 was a little low, since Kelly Blue Book said the car was worth around $36k. I then leased the G35 coupe, and was intending to sell the Z4 privately.

Literally 10 days after I got the G35 coupe, I received a phone call from BMWNA saying they would buy back my '04 Z4, and offered me a "trade assist", so basically I wasn't buying a BMW from a dealership. I was buying a BMW from BMWNA directly. The whole process took 4 months, and was a bit more difficult (to get BMWNA to agree to the $ terms) than descrbied in this post of course. It didn't hurt that my friend is a service director of a BMW dealer and he was the one assigned to handle my case. It wasn't without a fight but in the end it worked out great for me.

Hope this makes sense for you now.



Quote:
First off, it's not "MZ4", it's a Z4 M Roadster.
The official name is Z4 M roadster. The official name for the M3 is M3 Ci/Cic. The official name for the MZ3 is Z3 M roadster. But even bimmer people call it MZ4 / MZ3 all the time. I'm sure you usually call the M3 an "M3", and not an "M3 Ci" during your conversation with your friends. It's not the end of the world.



Quote:
The difference between Invoice and MSRP on a 2006 BMW Z4 M Roadster is around $4700 or so. $10k below MSRP would be below their cost. I'm sure if they sell cars that way the dealership would be closing down.

I hope you understand the contract you signed because it appears they got you somewhere and pulled the wool over your eyes!
Back in '03, '04, '05, there were always $10K-below-MSRP deals for the Z4. Dealers got huge incentives from BMWNA. Even for the '06 Z4's now, dealers are selling them at $7k below MSRP. It's not unheard of to buy a brand new Z4 with a $10k discount. In fact, that's how I got my '04 Z4 in the first place, with a $9K discount.

Last edited by GP20; 10-11-2006 at 02:05 AM.
Old 10-11-2006, 02:18 AM
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FYI - I just got out of a lease early when I bought my 06 G35 Coupe last month.

Anytime you lease a car you have a "lease buyout" price. Check with Infiniti financial about this, it's the price you'd have to pay to end your lease early and buy the car directly from the bank. This price is usually the price of the car calculated using the depreciation values from your residual.

I got lucky, and for me that price was a little less than Kelly bluebook wholesale value for the car. I basically took that price, tacked on a few thousand extra and listed it on craigslist. I got lucky and the first person that called about it was the one who ended up buying it. When it came time to negotiate, I "dropped" the price a few thousand to the exact price of my lease buyout. He got a great deal and I got out of my lease early. Win-win situation.

Now here's the tricky part - when someone else buys your car its called a third party lease buyout. The laws and rules vary from state to state and from bank to bank. The guy who bought my car used Bank of America whom luckily was able to handle the whole process for us and it went smoothly. I don't know about other banks, but I know that Capital One is one that doesn't do third party lease buyouts, so just make sure you talk to any interested buyers about this first.

Good luck with your car and congrats on the new MZ4. Feel free to PM me if you have any other questions about this.
Old 10-11-2006, 02:38 AM
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lease

What color is ur car...if black on black I'd be interested possibly takin over your lease

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