09-30-2020, 05:36 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. Here's the car for the visual people
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09-30-2020, 08:28 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, 08:32 AM | #3 | |
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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, 04:03 PM | #4 | |
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09-30-2020, 06:45 PM | #5 | ||
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Thanks!
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09-30-2020, 10:08 PM | #6 | |||
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09-30-2020, 10:38 PM | #7 |
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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, 05:10 AM | #8 | ||||
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Yeah I knew that. But thanks for the tidbit! I appreciate you!
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