Rapid lease early termination, or swap, or anything!

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Cantdecide

Member
Joined
Jun 13, 2015
Messages
8
I'm stuck.

I leased a 2015 i3 Rex for 30 months... a little under 6 months left. I've used up almost all the miles (1k left, $0.20/mile extra).
I found out details this week that I'm getting a corporate relocation to Colorado (currently Bay area California).
We're driving out of California this weekend, and I'm not intending to take the i3 Rex with us (we own 3 other EVs to use there).
I'm not worried about paying the money for the last 6 months of the lease... we've used the miles, it has done a decent job for 2 years. The problem is the physical ability to get rid of the thing.

So now what?
When I lease they told me with the lease protection plan I could just bring back the car, hand over the keys, sign a form and be done. So the easy answer is that I just return the car.
Calling BMW now though it seems I was lied to. They tell me ... ok, someone will call you next monday (after I've left the state) to arrange a time for an inspection of the car at my house (I won't have a home in CA by then given how fast homes sell in the Bay area right now) at which I need to be at, then after that I can return the car. Nothing like the promise I was given at lease time. Why does it take longer to return a leased car than to sell a home around here?

Now I'm stuck.
Swapalease would probably take far too long.
I don't want to fly across the country for a day trip just to return the car.
If we drive the i3 Rex there (I guess it is technically possible) I'm guessing we'd have extra fees for returning the car to the wrong place, or else have to drive it back.
Supposedly getting a friend to return it doesn't work if I have to be there for the inspection.
Is my only option really to leave the car with a friend and fly back and forth across the country just to return the car? That would cause more CO2 emissions than I saved in 2 years on the i3... and would be a ridiculous waste of my time, money, and carbon.

Any ideas or thoughts would be much appreciated?
 
Since your company is relocating you, my guess is they will pay to ship the car to CO or pay you the 20 cents per mile to drive it there (actual mileage rate is around 56 cents per mile so maybe that will cover some expenses :) ) So go ahead and move the car with you.
Once in CO, you can turn it in to any BMW dealer there. Actually, you can turn it in to any BMW dealer in the US. However, before you turn it in, BMW will want to make sure it's in reasonable shape, hence the inspection requirement. But the inspection can be done at any BMW dealership in the US. My guess is they will ding you for a new set of tires at a minimum.
 
theothertom said:
Since your company is relocating you, my guess is they will pay to ship the car to CO or pay you the 20 cents per mile to drive it there (actual mileage rate is around 56 cents per mile so maybe that will cover some expenses :) ) So go ahead and move the car with you.

They may pay to ship the car or mileage... they are already paying mileage for 2 cars and transport for one, so I'll need to see if they can cover a third car. Even if it isn't covered, that is just $80 in gas and $30 in mileage which is cheaper than the other options and we do have an extra driver so this means we can take more stuff in the cars.

theothertom said:
Once in CO, you can turn it in to any BMW dealer there. Actually, you can turn it in to any BMW dealer in the US. However, before you turn it in, BMW will want to make sure it's in reasonable shape, hence the inspection requirement. But the inspection can be done at any BMW dealership in the US. My guess is they will ding you for a new set of tires at a minimum.

If it can be done at any BMW dealer then taking the car to CO isn't such an issue... and this would definitely be the plan.
I'm going to call BMW now to confirm (I have no idea why BMW financial didn't tell me this when I was on the phone).

Thanks for providing a possible solution!
 
Cantdecide said:
theothertom said:
Once in CO, you can turn it in to any BMW dealer there. Actually, you can turn it in to any BMW dealer in the US. However, before you turn it in, BMW will want to make sure it's in reasonable shape, hence the inspection requirement. But the inspection can be done at any BMW dealership in the US. My guess is they will ding you for a new set of tires at a minimum.

If it can be done at any BMW dealer then taking the car to CO isn't such an issue... and this would definitely be the plan.
I'm going to call BMW now to confirm (I have no idea why BMW financial didn't tell me this when I was on the phone).

Confirmed with 2 people at BMW.
The only caveat is that the other dealers are permitted to refuse, which they occasionally do when their lots are full (e.g. NYC).
I hope BMW dealers in CO don't hate i3 lease returns.

Now to see if we can get the car shipped today, else it will be a long Rex. I've ordered a gas can same day delivery...
 
I'm glad it's working out for you. It'd be highly unusual if the dealer's lot was full. The dealer where you turn it in can either keep the car and try to sell it, or can turn it over to BMW FS, which usually takes the car off the lot and offers it to BMW dealers at auction. So even if they have an abundance of i3's on the lot, they aren't obligated to keep it after you turn it in.
 
Sorry for offtopic, but how can you sell a home in a few days? In my experience it takes a month from offer to settlement.
 
gt1 said:
Sorry for offtopic, but how can you sell a home in a few days? In my experience it takes a month from offer to settlement.

I don't know, but ... Bay Area is what I'm referring to when I say "around here". Look at the recent history of 503 San Jorge Terrace Sunnyvale. Yes it is accurate. 9 days from on the market to closed for way above asking, and much of that time was the bidding war. I'm guessing the deposit was for the full purchase price.
 
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