[SimpleMan]

BIMMERPOST / Classifieds

Asking Price:

None

Item Interest

I'm looking to transfer my lease. What's the exact procedure? I know I can do it but I don't know exactly how.

If someone can fill me in that would be much appreciated.

[tryangles]

Honestly, your best bet is to call BMWNA. They can provide you with some in depth information and a more thorough response than what you can anticipate here.

[Bart@AUTOcouture]

www.leasetrader.com

[SimpleMan]

Here's the response from BMWFS if anyone else is wondering:

Thank you for contacting BMW Financial Services regarding the assumption of your lease. We will be happy to assist you.

The assumption process works as follows:

- The person who wishes to assume your lease must fill out a credit application and be approved by our Credit Department.
- Before the credit application can be processed, an assumption fee of $450.00, plus any applicable sales tax, must be paid in order to begin the process.
- The vehicle must remain in your possession and on your insurance policy until you receive your confirmation letter, which will confirm that the assumption has been completed.
- The account must remain current at all times during the assumption process. This includes all charges billed to your account in addition to your monthly payment, such as personal property taxes, late fees, parking tickets, administrative fees, etc.
- After the process is complete, you will no longer be liable under the terms of your contract should the account ever go into default.
- This process takes about 30 days to complete.

If you wish to proceed with the assumption process, you may reply to this e-mail so that we may send you a link to the online application. You may then forward this link to your interested party so they may submit their credit application. At the time the link is generated, the $450.00 (plus tax) assumption fee will be billed to your account. The fee must be paid before the system will accept a credit application.

You may also call the number below to have your account put into assumption status and to authorize a third party to submit a credit application. Upon calling to authorize the assumption, the $450.00 fee would be billed to your account.

In either event, if you opt to cancel the assumption before a credit application is submitted, we will remove the $450.00 billing for the assumption fee. If the assumption is canceled after an application has been submitted, or if the applicant's credit has been declined, $100.00 of the assumption fee will be non-refundable.

We are committed to providing the highest level of service. If you have any further questions, please respond to this e-mail or consult a Customer Service Specialist at (800) 578-5000, Monday through Friday from 9:00 a.m. to 9:00 p.m. ET.