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While a BMW lease is a binding legal contract, there are ways to get out of it early. When you visit BMW of Asheville, you can learn about your various lease-end choices and why some are better than others.
Buy Your Vehicle
Many people want to get out of a lease because of financial restraints. If this describes you, then buying may not seem like a good option. However, it may actually be your best course of action, as taking out a loan may result in lower monthly payments.
Sell Your Vehicle
Pre-owned cars are becoming more and more popular, so buying your leased BMW vehicle and selling it can get a great profit out of your lease. And while you can sell your lease to anybody, dealerships may actually want to buy it, so be sure to find out what they can offer you.
Transfer Your Lease
Transferring your lease to someone who wants to take it over could be a good idea. Of course, there is a fee involved, so it’s important to know what this is ahead of time.
Also, your name will stay on the lease, which means you will be in trouble if the person who takes over misses payments.
Pay the Fee
The last thing you can do to get out of your lease is pay the early termination fee. This is not the most desirable choice because this fee can be pretty high, so be sure to find out what you’ll be on the hook for before you do anything.
BMW of Asheville wants to help you make the right decision with your lease. Contact us to have your questions answered!