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Anyone trade in their Model 3 lease to another dealer?

clerks

Member
Jan 18, 2021
272
75
Pittsburgh
swapalease.com and start over.
Ahh I didnt pay attention that the new car is to be a lease too. I am extremely familiar with BMW leasing, but not so much with Audi. It might be harder that way.

@jmaddr , since the OP mentions it looks like they will be 15k to 18k over on the lease, it likely is not an attractive vehicle on those platforms because people dont like to buy miles at the end of their leases. (even though those miles tend to be less expensive than the depreciation on the vehicle but thats a different discussion).
Yeah, Audi does not support leasing like BMW does. It’s not part of their business model like BMW.
 

idealdreams

Member
May 10, 2019
82
85
USA
swapalease.com and start over.
Yeah, only an idiot would want to take a year and a half lease with 5k miles left on the agreement. Read before you post please.

I have no issue in waiting another few months, I am just wanting to get the ball rolling to see what kind of dollars we’d be taking about out of pocket since either way I’m likely going to lose money (whether from negative equity in trading in to another dealer or in mileage overages in turning in to Tesla at the lease end).

I do want to get into another lease though so whichever automaker is willing to offer the best terms to eat my current lease to get me into one of theirs is the one that will get my business in the end.
 

clerks

Member
Jan 18, 2021
272
75
Pittsburgh
Good luck. It’s pretty clear you have mentally separated from this car. I’m still in my honeymoon phase. I can say that I am mildly concerned about all the complaints in this forum. You don’t hear about guys driving RS3s and M3s getting out of their lease early.
 
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idealdreams

Member
May 10, 2019
82
85
USA
Good luck. It’s pretty clear you have mentally separated from this car. I’m still in my honeymoon phase. I can say that I am mildly concerned about all the complaints in this forum. You don’t hear about guys driving RS3s and M3s getting out of their lease early.

Don’t get me wrong. I do like the car. I’ve pined after Tesla since they introduced the Model S and I’m going to miss some of the features dearly (Autopilot and 4 second 0-60 to name a couple).

But I cannot in good conscious continue to support the brand with my business when it has been nothing but a nightmare trying to interact with them. Scheduling service should be easy, not stress inducing.

Until they can get their act together on the part of the business needed to keep current customers, I will take my business elsewhere.

Enjoy the car - they’re great if you never have any issues. Unfortunately I didn’t get lucky and had to experience what Tesla thinks is customer service.
 

jjrandorin

Moderator, Model 3, Tesla Energy Forums
Nov 28, 2018
9,592
10,830
Riverside Co. CA
any chance you could force a buyback instead? seems like you have had lots of issues.

Thats a lot harder than many people think, especially if its an adversarial type situation, where the manufacturer says either "within spec" or " unable to replicate issue" and the owner of the vehicle disagrees.

In most cases, unless someone is friends with a lawyer who will work mostly for free, or the situation involves safety equipment that could endanger the owner, it will likely cost nearly as much to fight it (with no guarantee of success) as it would be to bite the bullet and simply get out of the car.

Enough of that, though, as its off topic for the OPs thread question (sorry, OP). You would be the first I have read about on this board who went through what you are attempting to do, so keep us updated as to how it goes.
 

designrs

Member
Jun 24, 2020
218
214
Jacksonville, FL
Check out CarMax. They will provide a written offer to buy your car in about 15 minutes. (Bring your lease doc and estimated buyout calculation.) I had negative equity in a vehicle, and returned to CarMax a few days later with the car and a cashiers check to made out to CarMax. They were VERY quick to settle the account with the bank that held the loan.

If you want, you can compare your CarMax offer against trade-in quotes for whatever vehicle you want. If it gets too complicated just go back to CarMax and be done with it.

It will not be cheep, but it is a fairly painless process.

Good luck!
 

designrs

Member
Jun 24, 2020
218
214
Jacksonville, FL
Good luck. It’s pretty clear you have mentally separated from this car. I’m still in my honeymoon phase. I can say that I am mildly concerned about all the complaints in this forum. You don’t hear about guys driving RS3s and M3s getting out of their lease early.

I brought out several of my BMW leases early... just boredom or desire for a different vehicle. At one time, BMW even offered six months lease payment forgiveness if the customer was buying another BMW vehicle.
 

TLLMRRJ

Active Member
Dec 19, 2019
1,925
1,905
Houston
swapalease.com and start over.

Are they still in business? If so, how? Everyone trying to get out of their lease on there appear to be very sad people. Many of the lease companies make it perilous for someone to take over a lease.

It sounded like a good idea at first, but like Turo, it's not great in practice.
 

clerks

Member
Jan 18, 2021
272
75
Pittsburgh
This times two but a lease assumption isn't an option for the OP due to his current mileage. Every now and then you can get a terrific assumption deal but once you start looking at the fine print it becomes quite a hassle. I had a co-worker successfully take over a lease of a ATS-V. The paperwork is significant and the approval process takes more than a month. It worked out in the end but it was a lot of work. And as stated above, some manufacturers (like Infiniti) keep the original lessee on the hook making it virtually impossible to do a deal.
 

idealdreams

Member
May 10, 2019
82
85
USA
Made some phone calls today. Now is not the time for me it seems.

Buyout quote from Tesla is just a little over $40,000.

I talked with BMW and their trade in offer was for $34,500, putting just under $6,000 of negative equity toward my lease. I spec’d out a loaded 330i and compared it against what I’d pay for a LR AWD Model Y if I had about 20,000 miles over my lease agreement and the Tesla came out cheaper in the end, about $4,000 cheaper after a 36 month lease.

Waiting on quotes from Audi but I suspect it will be a similar story. Was hoping to get lucky with a “buy you out of your lease” promotion or something but not at this time. Going to ride it out for now. Maybe things will change in the future and I’ll get lucky with a buyout. With no negative equity from my Tesla I would have signed for the BMW without hesitation today.
 
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designrs

Member
Jun 24, 2020
218
214
Jacksonville, FL
Only $5.5k negative equity on a BMW deal? (and only $4k over the life of the new BMW deal). Relatively speaking, that’s NOT a bad outcome at all for jumping out of a lease early... with miles!

I’ve had much, much worse numbers. Not criticizing you at all, so please don’t take it that way... but after your OP about how unhappy you are, why is $5.5k not worth it to you? I was expecting you to be negative +/- $15k.

Perhaps negotiate it a bit more, cough up some cash, and roll the rest into your next deal?
 
Last edited:

idealdreams

Member
May 10, 2019
82
85
USA
Only $5.5k negative equity on a BMW deal? (and only $4k over the life of the new BMW deal). Relatively speaking, that’s NOT a bad outcome at all for jumping out of a lease early... with miles!

I’ve had much, much worse numbers. Not criticizing you at all, so please don’t take it that way... but after your OP about how unhappy you are, why is $5.5k not worth it to you? I was expecting you to be negative +/- $15k.

Perhaps negotiate it a bit more, cough up some cash, and roll the rest into your next deal?

It’s more the principle of it right now. I’m having a hard time justifying rolling $6,000 of negative equity into a BMW lease that would cost me another $4,000 (mainly because of soaring gas prices in my area) throughout the life of the lease. That’s $10,000 just because I’m unhappy with Tesla.

Like I said, I do like the car. I just have trouble justifying staying with Tesla when they do literally nothing to retain current customers, but that “vengeance” is not worth $10,000 of my own money to stick it to them. All in due time.

I’m going to negotiate some more tomorrow and see where Audi has their figures before making a final decision but I will agree, $6000 to get out of the lease 1.5 years early isn’t as bad as I was expecting.
 

clerks

Member
Jan 18, 2021
272
75
Pittsburgh
OP don’t do it. This is literally throwing money away in the garbage. Take that 4 to 6k and buy apple stock or buy a Rolex and ride it out with the Tesla. Unless you are just wealthy, this makes zero financial sense. Setting aside your unhappiness with Tesla you are still driving a great car. I’m a firm believer in you only live once but this would be crazy.
 

dmurphy

Buster: 11/25/14 - 6/20/21. So sorely missed.
Dec 7, 2018
3,653
4,877
New Jersey - Morris County
It’s more the principle of it right now. I’m having a hard time justifying rolling $6,000 of negative equity into a BMW lease that would cost me another $4,000 (mainly because of soaring gas prices in my area) throughout the life of the lease. That’s $10,000 just because I’m unhappy with Tesla.

I fully sympathize with your service situation. It’s lousy and I wish there were an “office of the customer advocate” or some such for escalation paths. Tesla needs that, and needs it yesterday. I’m very lucky that my local SC is responsive and responsible but I recognize that’s not true everywhere.

That said — don’t make a rash decision out of anger. Thankfully it seems you haven’t, and that’s good. Timing is everything in this business.

I was lucky to sell my Cadillac to the dealership in order to get into my Model 3. It was leased, and I sold it to them about 7 months before the lease was up. Their offer was $1500 under my buyout price, so I had to give them the car and a $1500 check. Sounds under water, but it was a screaming great deal.
Selling to them let me:
1) avoid the $700 lease end fee;
2) not need to put tires on - was right at 4/32 (25k miles) so would’ve needed them 7 months later for turn-in
And most of all;
3) collect the (at the time $3750) tax credit on Model 3.

My point being - it’s all about timing. A few months earlier or later and I would’ve been way off from the buyout. Instead it was a net-positive transaction all around.

I hope that whatever time remains on your 3, you can enjoy it, and whatever comes next is just as much fun to drive. If you’re in the Northeast maybe I can recommend a quality service center for you as a last-ditch effort. Have two nearby that have been nothing but great to me.
 

idealdreams

Member
May 10, 2019
82
85
USA
Well...after much negotiation and back and forth, I decided to take the plug and get into the BMW. We ended up with only a couple grand in negative equity which is a hell of a lot cheaper than the several thousands I’d owe in mileage overages if I kept the Tesla lease to term so that’s exciting.

Looking forward to being back in a real luxury car again. Going to miss a few things about the Tesla (namely Autopilot, the instant torque, 0-60 time, remote control, and other little gimmicks like Netflix/Hulu) but overall I am thrilled to have a car company that actually has the capacity to service their customers.
 

SlimJim

Member
Jul 25, 2019
884
672
USA
There is no way you can come out of it without being significantly under water after 1 year into a 3 year lease.

That BMW dealer must be desperate to sell a car.
 

idealdreams

Member
May 10, 2019
82
85
USA
There is no way you can come out of it without being significantly under water after 1 year into a 3 year lease.

That BMW dealer must be desperate to sell a car.

Call me lucky I guess. It’s the month’s end too so maybe that had something to do with the good deal.
 

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