[Kev]

Sorry to hear about your trouble. I definitely won't suggest going the voluntary repo route. BMWFS should have told you there are three ways of terminating a lease:

1. Voluntary repo (not recommended)
2. Lease assumption
3. Sell your car to someone or dealer

Obviously 2 is the best scenario since you won't have to deal with negative equity. 1 is just a dumb choice to for and it should only be used as a last ditch effort. 3 is somewhat in between. Worse case is you can SELL your car back to the dealership, and finance the difference between your payoff and the trade in value. That way, it won't show up as a repo and you just have to deal with the negative equity.

[TwoSaints]

Originally Posted by Kev

Sorry to hear about your trouble. I definitely won't suggest going the voluntary repo route. BMWFS should have told you there are three ways of terminating a lease:

1. Voluntary repo (not recommended)
2. Lease assumption
3. Sell your car to someone or dealer

Obviously 2 is the best scenario since you won't have to deal with negative equity. 1 is just a dumb choice to for and it should only be used as a last ditch effort. 3 is somewhat in between. Worse case is you can SELL your car back to the dealership, and finance the difference between your payoff and the trade in value. That way, it won't show up as a repo and you just have to deal with the negative equity.

I think #3 seems to be the more realistic means to an end. If you don't mind sharing, what is the "buy out" for your car? Negative equity always sucks. Can you even refinance your loan for the negative equity if there is no car/product? You can only assume that BMW will low ball you on a buy back, but maybe there's another option. A high end used car lot? Do you plan on replacing it? If so, MAYBE you can roll your negative equity into that loan (like others have mentioned). I definitely agree, do not voluntarily return the lease. Something you may consider is selling it to a high end rental car company - they won't care too much about mileage. Figure something out, but definitely find someone to sell the car too.

[Bubkus]

I believe the buyout is near $52K. My dealer contacted me this morning and am waiting a response from them - hopefully something near decent in terms of a dealer buyout.

Per another car.......well, I'll have to either get a clunker or a cheap lease. But I doubt the latter since I have no stable income to show.

[Cyber]

No matter what happens I hope things work out and you get back on your feet. Have you been spiritual lately? Maybe there is a message in all of this.

On the bright side, you should consider spending some quality time with the car and treat it as if a loved one will be passing away. Do the things you've wanted to but never did. There are zero excuses now.

With respect to the repo issue (surrender etc.) its a loser regardless due to the fact they can find your car with the anti theft.

Again, hope it works out and you find the light in all of this.

[jaiman]

why don't you get "car jacked" ?

[MisterSkiMask]

Originally Posted by jaiman

why don't you get "car jacked" ?

Let me guess, you take out your piggy back and put your 335 back to stock before every dealer visit.

[Bubkus]

Originally Posted by Cyber

No matter what happens I hope things work out and you get back on your feet. Have you been spiritual lately? Maybe there is a message in all of this.

On the bright side, you should consider spending some quality time with the car and treat it as if a loved one will be passing away. Do the things you've wanted to but never did. There are zero excuses now.

With respect to the repo issue (surrender etc.) its a loser regardless due to the fact they can find your car with the anti theft.

Again, hope it works out and you find the light in all of this.

Thank you for the kind words - I have hope and believe things are meant to be. If this is meant to be, then so be it but I believe my time will come again.

I have always cherished my time with the car - it's truly an exceptional piece of engineering that is beyond words. It will be sad, sad day when the day finally comes....