Firstly I'd like to apologise for the "second post" question. I know it's bad form but I'm desperate!

I foolishly took out a lease purchase on a BMW 3 series Diesel, brand new, in Sept 2005 (3year deal, bubble payment at the end). Oh how foolish I was thinking that would keep me sane after my FTO.

I'm itching to get out of the thing early, and seem to remember a little known clause being talked about somewhere, that once you have paid half the payments on the lease you can hand the car back and be free! no penalties nothing, this being a legal right. BMW wont be happy, but I'm not scared of hurting their feelings right now!

Does anyone on here know if this is true, or am I stuck in theis thing for another nearly 2 years?

Many thanks for any advice.

N

 

I don't think that is true.

Look at the contract you signed. there will be a penalty.

 

I've heard the same thing, that it is possible. A friend did it a long time ago. But it's not a cheap option.

 

I have seen contracts with that clause before, but I suspect any clause of that nature will be on a contact by contract basis.

I'm not aware of any legal requirement for lease contracts to be inclusive of such a caveat.

The best thing to do is read your contract start to finish (inc small print) and view your options. Worst case scenario you could always go back to BMW and say you're leaving the country or something and have no need for the car anymore and what are your options. What they tell you may not necessarily be accurate but you may be lucky.

Good luck

 

Unfortunately you may have to prepare yourself for the fact you're going to be out of pocket.

 

Wow, thanks for the quick responses.

That seems to make sense. I have now also called them and a really helpful guy outlined my options.

1. carry on paying till the end
2. voluntary terminate (this is the 1/2 the amount paid scenario) at a loss of 6k
3. sell the car and repay the remainder with a loss of about 2k ish

Sooo looks like I'll be a failing to indicate, outside lane hogging, never getting let out of a junction Beemer driver a while longer then.

Thanks again for the responses. I'm going to hang around to keep my motivation up and hope for a small windfall!

Cheers

N

 

Shame, but there are worse cars to be stuck in than BMWs.

Hope to see you in an S2000 soon though.

 

Why don't you have a word with your friendly Honda finance person? I had my last S2k on a lease and these things seem to be a lot less binding than they seem even from the contract. Ultimately they should want your business so they should be able to help you shake off the BMW.

 

I'll try that avenue too.

looking at the autotrader, mine might be worth a touch more that first thought so it might be within reach. will have to talk to my Honda dealer.

Silberfeil, would you mind giving me a little more detail of your experiences? no problem if not.

 

why dont you get a Z4?

some people like them

so i'm told