M3 LR Getting Out Of Lease Options

[BruceInFlorida]

Hi everyone. I have a general question about exiting a 3-year M3 LR lease early. Two months ago we bought an MY LR. We love both cars but my wife points out that by downsizing to just the Y. We're retired so that will work for us and it would be nice to save the lease payment + 2nd car insurance. The lease does NOT have a buyout option; If it did I would just buy and resell. Some of my thoughts are:

• Call Tesla and ask them for their options
• Net income from the M3 by using it in some kind of car sub-lease (not sure if its allowed with my lease) program - I've heard of this but am not familiar with it
• Keep the car for the remaining `17 months of the lease and just suck up the extra costs
• Do some kind of lease transfer? Is this even possible? And if so, is it desirable?
• Anything else?

I'm thinking since there is a big demand for Teslas now maybe there is a financially good answer here... but not sure what. Thanks to anyone who can comment

 

[jjrandorin]

Tesla has a website link on what your options are:

Ending Your Lease Early | Tesla Support

Although it can be costly, early lease termination is allowed if you have at least one lease payment remaining. There may be a few options for early lease termination for your Tesla vehicle.

www.tesla.com

(sub leasing, purchasing the car and selling it, and selling the car to a third party dealership are not part of those options).

There is no financially lucrative option. You might be able to exist without owing all of the balance of your lease. You can try a lease transfer and ask the person taking it over for a down payment to try to capture some money back, but the more money you ask for as a down payment the less likely you are to get someone to take on the transfer, especially since they also cant buy it.

 

[UncertainTimes]

Make click baity YouTube videos bashing the M3 and it’ll pay for itself in ad revenue