Option 6 is for mentally challenged folks...none of which I hope are on this board (laughing...)

My advice is to just keep the S until the end of the lease...who the hell wants a BMW anyway?? With the S, you have no extra baggage of "status."

Good luck with whatever you do. Remember, karma is a biatch...so an idea of crashing your car may lend itself to hurting (or God forbid killing) someone else not involved...it's not worth it...

Just keep the S until the end of the lease term...pretend the BMW never existed.

 

LOL hell yes that is a joke. Talk about not being worth the few thousand bucks...going to federal pound-me-in-the-ass prison!

 

Don't be naive... that doesn't happen in prisons...

 

That'd be like shoving your dingdong in a blender. The questions pops in mind, "Hmm do I do it?"

 

that's what sucks when your payments are low and the market value is low too. as far as i know, u can sell the car or do what ever you want after 12 months of leasing the car. there's a termination fee and other fees if you've gone over your limited miles. but the catch is that if you're able to get more than what you owe, u keep the difference of what u sold it for and what you owe. but if you sell for less than what you owe, then you're stuck with paying the difference. in your situation, i'd say it may be better to just keep the s2000 or you'll be getting into a larger loss of $$.

scott

 

Seems like with your attitude, you're gonna get attracted to another car a few years later and start trading out your m. Again, keeping the s would be best for you, or bear significant costs.

 

that's weird because I just talked with Honda about getting out of a lease and they told me there is no fees associated with turning you car in early or buying it outright whether your trading it in or not. I've been thinking about getting something I can drive year round but I can't find anything I like as much as the S

 

right... it isn't a fee. A lot of people charge disposition or early termination fees, Honda doesn't. Instead, you have to pay an appraiser (on your dime, of course) to appraise the wholesale (trade-in) value of the car. The appraiser has to be certified and mutually approved. Say you owe 1,000 on the car, and the appraiser says the value is only $750, you're going to have to pay Honda $250 to turn the keys in.

BTW, one advantage (ok, not an advantage, but one thing that make it less unattractive) to turning your lease in early (at least in MN) is a sales tax credit. You pay all of the sales tax up front on the car in MN - when you terminate early, you are entitled to a credit that can be used at a dealer within 30 days - the credit is prorated based on the length of the lease. Helps to offset moderate losses on the trade... you'd get nothing if you waited out the lease.

 

I turned my leased S2k in 6 months early back in June. I was in a 48 month, 60k mile lease and only had about 35k on the car with 6 months left to use the remaining 25k miles (wasn't gonna do it). I found a used '05 RSX Type S that I liked at a Honda dealer, so I walked in and asked them if they'd take the S2k off me. After crunching some numbers, the salesman told me I'd have to give them $1,800 to give them the S2k. I told him he was insane a few times and threatened to walk out. Here was an S2k, worth about $20k trade in with an $18.5k residual and he wanted me to give them $1,800 to take it because dealers like to use "auction value" now. Not trade in, which is low enough to begin with, but auction value. Since the S2k is a very low selling vehicle, he didn't want it sitting on the lot for months. Understandable and after telling him, "Fine, I'll keep the S2k until the end of the lease and go give another Honda dealer, NEARER to my house, my business in January.". I walked out with clean hands on the S2k and $500 off the price of the used RSX.

In the end I was happy because the S2k needed new tires, insurance was higher and it was costing me an arm and a leg for gas (I average 30mpg with the RSX vs 23mpg in the S).

 

There's a whole industry called lease assumptions that gets people out of leases for the minimum amount of financial penalties. Still you would still be liable if the new owner gets in trouble with the transferred vehicle.