Hello and goodbye...
 

Long time reader, first time poster. Normally when I join a forum I do it with the intent of learning everything about my current car, unfortunately I find myself in a situation where I don't plan to stick around long.

I got a brand new 2012 Hardtop Mini under the ownerschoice program. 36 months at $410 a month. To make a long story short I lost my job and can no longer afford the payments. I am told you cannot transfer the lease to a new owner through leasetrader.com and such since its not a traditional lease. Also taking it back to the dealership would end up costing an insane amount since the payoff is around $27000 (Ive only had the car 3 months). What would you do in my postion? Drop the car off at the dealership? Wait for it to get repossessed?

I realize these are not responsible solutions and it will affect my credit score, but I simply cannot afford it, I'm running short on choices. Any advice would be greatly appreciated. Maybe in a couple of years I will be able to afford one again.

:(

anyone? I hate to be the scab here, but I really need some help

I would take it back to the dealer and see what they would offer you. You've had it for 5 months, and I'm sure that they will offer you less than you owe, but your monthly payments on the over head will be cheaper that $410 a month.. They will pay off your loan, or what you leased it for and you'll make direct payments to the lot for the difference. I only know this because I was offered 13,000.00 for mine and owed 16,500.00. I had to get out of the situation because the car was a P.O.S.!!! and the 3,500.00 that I owed the car lot was TOTALLY WORTH NOT HAVING THE CAR, and the payments were minimal.

thanks for the advice, I will be making a trip to the stealership see how much they offer me :)