Swap A Lease

avi8tir · 06-17-2015, 10:50 AM

Has anyone ever used that site? I am looking for a short term car for the next couple of years.

Anything to be weary of when trading a lease?

medman2k1 · 06-17-2015, 12:16 PM

I have used swap a lease to move on from 3 leases.

I always provided a incentive from 1000 to 5000 depending on the market.

It was a win win for everybody.

Obviously I was a reputable seller and always represented the car as it was.

The one thing you should be mindful of is that their really is no protection for the lease acquirer to be paid the incentive. Basically the lease transfer is consummated between you and BMWFS and the other party is legally out of the equation. So you could get burned by the person not honoring whatever incentive was promised.

I guess you could use a service like escrow.com to provide some protection against such a scenario.

All in all I have had good experiences with swapalease disposing of my leases.

I have never acquired a lease via swaps lease.

WuTang · 06-17-2015, 05:48 PM

I too am currently looking to only lease for a short term. Is there a good chance that I will be able to get out of the lease with Swap a Lease

nv6425 · 06-17-2015, 10:38 PM

I just picked up a 2014 M5 CP from Swap A Lease. Something to consider when taking over a lease in Texas is the tax implications; when transferring from some states, Texas will require you to pay the taxes on the full amount of the vehicle as if you were purchasing it used.

MCarsFan · 06-17-2015, 11:57 PM

I've just moved to TX from CA..

avi8tir · 06-18-2015, 08:46 AM

Quote:

Originally Posted by nv6425

I just picked up a 2014 M5 CP from Swap A Lease. Something to consider when taking over a lease in Texas is the tax implications; when transferring from some states, Texas will require you to pay the taxes on the full amount of the vehicle as if you were purchasing it used.

I have a $100k credit at my local BMW dealer.... how would that work into a lease?

avi8tir · 06-18-2015, 08:49 AM

Quote:

Originally Posted by MCarsFan

I've just moved to TX from CA..

Poor soul! Been here 4 years now.... trust me, you'll never get used to it! At least you're in Dallas and not Houston!

Vic55 · 06-18-2015, 08:57 AM

Quote:

Originally Posted by avi8tir

I have a $100k credit at my local BMW dealer.... how would that work into a lease?

100k? that will almost buy you the car

Im sure you meant 1k and if so that usually is applied as a cap reduction.

avi8tir · 06-18-2015, 09:14 AM

Quote:

Originally Posted by Vic55

100k? that will almost buy you the car

Im sure you meant 1k and if so that usually is applied as a cap reduction.

Ha, sorry, meant a $100k tax credit from a trade I did a few months ago! I can't remember they allow this in CA or not (never traded a car there)... but in Texas, you can roll your tax payment when you trade your car in.

Propofoln · 06-18-2015, 03:17 PM

$100k trade? Dayum

MCarsFan · 06-18-2015, 08:45 PM

Quote:

Originally Posted by avi8tir

Poor soul! Been here 4 years now.... trust me, you'll never get used to it! At least you're in Dallas and not Houston!

I'm sure we will be fine, feels like home..

galt · 06-18-2015, 09:15 PM

I have used the site as well as Leasetrader.com.

Strong preference for swapalease because you don't need to pay a membership fee and more importantly if you find a car on their sight they will not charge you a fee for taking over the lease.

In fact, for that reason, be very careful if you see a car listed in both places (or a forum) to avoid any efforts to contact the seller via leasetrader.com (including viewing contact details). Reason: if you made contact at all via leastrader they will claim that you found the car there and will charge you. Apparently they have some way to track whether or not a lease is assumed on the VINs they have on their site.

soooma · 06-18-2015, 09:57 PM

Quote:

Originally Posted by avi8tir

Has anyone ever used that site? I am looking for a short term car for the next couple of years.

Anything to be weary of when trading a lease?

Got rid of a car x5 2012 two years ago and was easy

06-17-2015, 10:50 AM	#1
avi8tir Captain 396 Rep 855 Posts Drives: ///M Join Date: Oct 2011 Location: SNA IAH AMS iTrader: (0)	Swap A Lease Has anyone ever used that site? I am looking for a short term car for the next couple of years. Anything to be weary of when trading a lease?
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06-17-2015, 12:16 PM	#2
medman2k1 Private 14 Rep 59 Posts Drives: 750Li Join Date: Nov 2009 Location: Florida iTrader: (0)	I have used swap a lease to move on from 3 leases. I always provided a incentive from 1000 to 5000 depending on the market. It was a win win for everybody. Obviously I was a reputable seller and always represented the car as it was. The one thing you should be mindful of is that their really is no protection for the lease acquirer to be paid the incentive. Basically the lease transfer is consummated between you and BMWFS and the other party is legally out of the equation. So you could get burned by the person not honoring whatever incentive was promised. I guess you could use a service like escrow.com to provide some protection against such a scenario. All in all I have had good experiences with swapalease disposing of my leases. I have never acquired a lease via swaps lease.
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06-17-2015, 05:48 PM	#3
WuTang Private First Class 61 Rep 164 Posts Drives: 2016 M4 DCT Join Date: Dec 2013 Location: Potomac, Maryland iTrader: (0)	I too am currently looking to only lease for a short term. Is there a good chance that I will be able to get out of the lease with Swap a Lease __________________ 2016 F82 M4 DCT Lighting Package, Carbon Fiber Roof, Black 437 M Wheels,
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06-17-2015, 10:38 PM	#4
nv6425 Lieutenant 64 Rep 481 Posts Drives: X7 Dark Shadow Join Date: Sep 2011 Location: Houston, TX iTrader: (0)	I just picked up a 2014 M5 CP from Swap A Lease. Something to consider when taking over a lease in Texas is the tax implications; when transferring from some states, Texas will require you to pay the taxes on the full amount of the vehicle as if you were purchasing it used. __________________ ///M
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06-17-2015, 11:57 PM	#5
MCarsFan Lieutenant Colonel 363 Rep 1,805 Posts Drives: 2014 BMW M5 F10 CP Join Date: Apr 2013 Location: Dallas, Texas iTrader: (0) Garage List 2014 BMW F10 M5 [10.00]	I've just moved to TX from CA.. __________________ 2014 BMW F10 M5 ZCP \| SSII / Black \| MSR Stage III \| MSR Intakes \| RPi GTM Exhaust \| RPi Catless Downpipes \|RW Carbon Front Lip \| RW Carbon Diffuser \| RW Carbon Trunk Spoiler \|
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06-18-2015, 03:17 PM	#10
Propofoln Speedster 50 Rep 276 Posts Drives: 2023 BMW X7 M60i Join Date: May 2014 Location: Dallas, TX iTrader: (0)	$100k trade? Dayum
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06-18-2015, 09:15 PM	#12
galt Private 9 Rep 85 Posts Drives: FORMER: M3, X5M, M5, X5 3.5 Join Date: Jan 2014 Location: Miami iTrader: (0)	I have used the site as well as Leasetrader.com. Strong preference for swapalease because you don't need to pay a membership fee and more importantly if you find a car on their sight they will not charge you a fee for taking over the lease. In fact, for that reason, be very careful if you see a car listed in both places (or a forum) to avoid any efforts to contact the seller via leasetrader.com (including viewing contact details). Reason: if you made contact at all via leastrader they will claim that you found the car there and will charge you. Apparently they have some way to track whether or not a lease is assumed on the VINs they have on their site.
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