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2019+ BMW 3 AND 4-SERIES FORUMS (G2x Generation) Ordering / Pricing / Order Tracking Forum How does a lease takeover work?

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      09-30-2020, 06:36 AM   #1
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How does a lease takeover work?

I have a high optioned 330i that I pay very little for months and I have my eye on something else.

But how does a lease take over work? Who does the paperwork? Does my payment transfer to somebody else? Sorry for the dumb question.

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      09-30-2020, 09:28 AM   #2
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I can tell you how it's done in Germany, don't have any detailed knowledge about the process in the US. But generally, the overall steps should be similar. Someone else can probably confirm that or correct me.

First, obviously, you have to find someone else who wants to take the lease. You have to submit a request for change of lessee (is that the correct term? lol) to BMW Bank. They will then check the finances of the new lessee and after a positive credit check will give the OK. The new lessee will have to pay a fee for the transfer of the lease (it's 500 in Germany) and will continue with the same monthly payments/mileage/balloon payment as stated in your lease contract.

Overall it's nothing major, many people are doing this all the time.
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      09-30-2020, 09:32 AM   #3
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Quote:
Originally Posted by Nashville View Post
I have a high optioned 330i that I pay very little for months and I have my eye on something else.

But how does a lease take over work? Who does the paperwork? Does my payment transfer to somebody else? Sorry for the dumb question.

Here's the car for the visual people
I took over a lease and it was seamless. BMWFS really does a good job. Both parties call, there's a credit check, they'll send the paperwork to both parties and once everything gets back to them...voila!

The person who I took the car from even gave me an incentive to take over it. You can also ask for money if you think it's "too good" of a deal. Or just do it without. The fee is 500 which anyone could pay depending on the agreement you make.
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      09-30-2020, 05:03 PM   #4
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Quote:
Originally Posted by Nashville View Post
I have a high optioned 330i that I pay very little for months and I have my eye on something else.

But how does a lease take over work? Who does the paperwork? Does my payment transfer to somebody else? Sorry for the dumb question.

Here's the car for the visual people
You might have some trouble with a transfer considering the aftermarket work that has been done. (Slammed suspension) If you don't get exactly the right person who knows the car has to be 100% returned to stock for lease return. And you may need to do that before transfer.
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      09-30-2020, 07:45 PM   #5
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Quote:
Originally Posted by xlover View Post
Quote:
Originally Posted by Nashville View Post
I have a high optioned 330i that I pay very little for months and I have my eye on something else.

But how does a lease take over work? Who does the paperwork? Does my payment transfer to somebody else? Sorry for the dumb question.

Here's the car for the visual people
You might have some trouble with a transfer considering the aftermarket work that has been done. (Slammed suspension) If you don't get exactly the right person who knows the car has to be 100% returned to stock for lease return. And you may need to do that before transfer.
I wouldn't call it slammed. It's just lowering springs and I've already talked to BMW N/A and it won't affect warranty issues. Unless you mean the buyers preference, then I'd pay to have it swapped.

Thanks!
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      09-30-2020, 11:08 PM   #6
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Quote:
Originally Posted by Nashville View Post
Quote:
Originally Posted by xlover View Post
Quote:
Originally Posted by Nashville View Post
I have a high optioned 330i that I pay very little for months and I have my eye on something else.

But how does a lease take over work? Who does the paperwork? Does my payment transfer to somebody else? Sorry for the dumb question.

Here's the car for the visual people
You might have some trouble with a transfer considering the aftermarket work that has been done. (Slammed suspension) If you don't get exactly the right person who knows the car has to be 100% returned to stock for lease return. And you may need to do that before transfer.
I wouldn't call it slammed. It's just lowering springs and I've already talked to BMW N/A and it won't affect warranty issues. Unless you mean the buyers preference, then I'd pay to have it swapped.

Thanks!
Not warranty, they have to be original when the car is returned from lease
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      09-30-2020, 11:38 PM   #7
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Quote:
Originally Posted by Nashville View Post
I wouldn't call it slammed. It's just lowering springs and I've already talked to BMW N/A and it won't affect warranty issues. Unless you mean the buyers preference, then I'd pay to have it swapped.

Thanks!
please share (sorry if I missed it, if you did link would be appreciated) what you did to lower. Springs only? What springs? Thanks! And good luck with your transfer :-)
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      10-01-2020, 06:10 AM   #8
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Quote:
Originally Posted by xlover View Post
Quote:
Originally Posted by Nashville View Post
Quote:
Originally Posted by xlover View Post
Quote:
Originally Posted by Nashville View Post
I have a high optioned 330i that I pay very little for months and I have my eye on something else.

But how does a lease take over work? Who does the paperwork? Does my payment transfer to somebody else? Sorry for the dumb question.

Here's the car for the visual people
You might have some trouble with a transfer considering the aftermarket work that has been done. (Slammed suspension) If you don't get exactly the right person who knows the car has to be 100% returned to stock for lease return. And you may need to do that before transfer.
I wouldn't call it slammed. It's just lowering springs and I've already talked to BMW N/A and it won't affect warranty issues. Unless you mean the buyers preference, then I'd pay to have it swapped.

Thanks!
Not warranty, they have to be original when the car is returned from lease
Oh. Lol


Yeah I knew that. But thanks for the tidbit! I appreciate you!
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