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Leasing a BMW car offers a lot of advantages. First, it’s often less expensive than buying. In addition, you don’t have a long-term financial commitment to one vehicle. Sometimes, however, people leasing a vehicle need to get out of their agreement early for one reason or other. If you are in this situation, our BMW financing goes over your options:
Pay the Early Termination Fee
The quickest way to get out of a lease is to just pay the early termination fee when you turn in your car. But, because this can be high, you may want to look at your other choices before you do this.
Purchase then Sell the Vehicle
When you lease a car, it still belongs to the dealership. But if you buy it, it becomes yours, and you can do whatever you like with it. This means once you own it, you’ll have the option to sell it right away.
Find Someone to Take Over the Lease
Do you know somebody looking to lease a car? You may want to see if they’d be willing to take over your lease. There are a couple of things to consider before you go this route, however. The first is that you will have to pay a transfer fee. Secondly, your name will stay on the lease, which is important to keep in mind if this person were to miss a payment or perhaps stops paying altogether.
If you absolutely have to get out of your lease early, BMW of Asheville wants to help you make the right decision. Get in touch with us to learn more about your options.