[scott135i]

BIMMERPOST / Classifieds

Asking Price:

None

Item Interest

Up for grabs is a LEASE TRANSFER on my mothers 335i convertible. She just got it ~7 months ago, and has decided she wants a truck if she can find someone to assume her lease.

NOW FOR THE DETAILS:

Location: Staten Island, NY (NYC)
Car: 2011 E93 335i Convertible (N55 TwinPower Turbo)
Color: Titanium Silver Metallic on Coral Red Leather with Glacier Aluminum Trim

Options:
-M-Sport Package w/ Automatic Transmission and Paddle Shifters
-Cold Weather Package
-Premium Package
-Navigation
-Harmon Kardon upgraded sound
-Satellite Radio
-BMW Apps
-BMW Assist w/ Bluetooth

Sticker Price / MSRP was: $63,550
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Lease Terms
Monthly Payment: $620 per month, INCLUDING NYC taxes
Mileage Allowance: 10,000 miles/year or 833 miles/month
Lease Duration: 34 Months
MSD (fully refundable multiple security deposit): $4,550
Lease Start date: 6/30/2011
Lease End date: 4/30/2014
Months remaining (as of Feb 2011): 27 Months
Current Mileage: 4,030 miles
Mileage Remaining Total : 24,300
Mileage Remaining Per Month: 900 miles (this means you get ~70 extra miles a month vs. the normal amount you'd get on a 10k mile/year lease)



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To Transfer Lease you must:
-Have Good credit to be approved by BMW FS directly
-Pay BMW direct the $500 lease transfer fee
-Pay me direct the $4,550 I put down in MSD's listed above. You're guaranteed to get this back at lease end and it will be expressly written in the lease transfer paperwork. I put MSD's down to lower the payment by almost $60 a month, and you're guaranteed to get it back at lease end.


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For $620 a month, you get a fully loaded 335i convertible with lots of miles left. At a dealer now, you'd pay $700-750 a month for the same exact car, with $2000 out of pocket at least sign (that you don't get back). Pick up mine for only $620 a month, + the $4,550 to me up front that you'll get back from BMW at lease end via a check.


PM me with any questions. Below are the 2 photos from when I first picked up the car. Current photos to follow as soon as my parents return from vacation a few days from now. Overall, car is in great condition.

[exclusivo]

just curious, whats the advantage of giving you the 4.5k+500 to transfer vs. putting 5k down at the dealer? How was your msd refundable, but we wouldnt be able to do the same?

[scott135i]

Originally Posted by lemmegetatthat

just curious, whats the advantage of giving you the 4.5k+500 to transfer vs. putting 5k down at the dealer? How was your msd refundable, but we wouldnt be able to do the same?

Here is the breakdown.

You give BMW $500 to xfer the lease.
You give me $4550 which is the security deposit I put down.
At lease end, BMW gives you a check back, in your name, for $4550.
Your total true cost to assume lease is $500.
------
If you went to a dealer....

You'd have to pay for tax, DMV fees (tags/license/registration), possible cap cost (down payment), and dealer fees - If tax included, this would be anywhere from $2000-$6000, and is NON-refundable. Then additionally, you could put down refundable MSD's to lower your payment. But still your true cost to start the lease would be at least $2000, assuming you could get to the same monthly payment amount on a fully loaded car. I always put down MSD's because it makes sense. You loan BMW money, they lower your monthly payment in return. In the case of this lease, I loan BMW $4550 over 34 months, and in return I save $52 a month for 34 months which equates to $1768 in savings over 34 months. That a HUGE return over 34 months. Show me somewhere else you could invest $4550 and guarantee that kind of return, because I'm in.....

My $620 a month payment, inclusive of tax is the same as a $570 a month payment base, without tax. That is with $0 cap cost down. Can you find another 335i M-Sport E93 loaded for that price?

Make sense?

[exclusivo]

yea makes sense. I wasnt trying to attack you, just really curious. Ive never had a new car before, got mine used. Thanks for the explanation, may have to use this strategy when Im ready to lease

[juxtapose]

Scott i contacted you a few months ago about going through you for a z4 for a lease and you never got back to me. I'm not offended, I'm just a bit curious why you decided to block my calls and stop responding. Not trying to attack you either.

[scott135i]

Originally Posted by lemmegetatthat

yea makes sense. I wasnt trying to attack you, just really curious. Ive never had a new car before, got mine used. Thanks for the explanation, may have to use this strategy when Im ready to lease

Ha, don't worry man. I didn't take it as an attack and I wasn't being defensive. Sorry if it came off that way!! It's a good strategy. PM me if you need help with a lease.

[scott135i]

Originally Posted by juxtapose

Scott i contacted you a few months ago about going through you for a z4 for a lease and you never got back to me. I'm not offended, I'm just a bit curious why you decided to block my calls and stop responding. Not trying to attack you either.

Hey man,

I never blocked your calls or stopped responding. I never heard back from you. I did have some trouble with my number around that time due to migrating my number from Verizon to AT&T - so, I apologize.

If you still need help, PM me or text or call.

Thanks.

[scott135i]

BUMP.

[scott135i]

BUMP.

[mjsbmw]

This is a beautiful 335. Curious about how to handle a NJ registration. Does NJ expect to be paid sales tax even though you have the NY sales tax already in the lease payment?

[kckc1016]

regardless of what state this goes to you will have to pay sales tax again. I took over a lease in NY, im also from NY, and they charged additional sales tax.

Tax was charged at Total monthly payment x months x NYS sales tax rate. Sux since you are paying sales tax on total monthly payments including the tax already in the payment. You either have to pay bmw finance or the dmv directly.

[scott135i]

Havent bumped this thread in 3-4 months. If anyone is interested, will post updates, just PM me.