Vehicle Registration Issue

Portimao Blue M440ix · 08-21-2024, 08:42 AM

I just came to realize that there is a registration issue with my leased vehicle. The leased vehicle was registered in my name as the owner of the car. Normally the name on the registration as the owner of the vehicle would be the leasing company. I don't have any experience with leased vehicles so I'm wondering what my position is on this. If I'm the registered owner is the car mine? How can the lease company get the car back if I don't sign the ownership over. I live in Ontario, Canada if that helps.

cmyx6go · 08-21-2024, 08:51 AM

I don't know how it works in Canada. Here it varies from state to state who shows on the registration. But the registration does not reflect ownership, the title does.

I just bought out my lease. The registration was in my name during the lease, but the title is in the leasing company's name. They signed the title over to me. I did not need to re-register.

Hope this helps.

spazzyfry123 · 08-21-2024, 08:52 AM

Registration does not equal title.

Same for anyone that would finance a car - registration would be in their name, but the title is the bank’s.

Lady Jane · 08-21-2024, 09:52 AM

I lease my X3 for business reasons. Both my registrations and insurance slip show me and BMW as lessee and lessor. Maybe you have a different system in Ontario.

Portimao Blue M440ix · 08-21-2024, 09:53 AM

The way its here. If I was to return the lease I would have to sign the ownership/title because I'm the owner the way they registered the car. If I wanted to keep the car it's the opposite the title is in my name already.

Lady Jane · 08-21-2024, 10:00 AM

Quote:

Originally Posted by Portimao Blue M440ix

The way its here. If I was to return the lease I would have to sign the ownership/title because I'm the owner the way they registered the car. If I wanted to keep the car it's the opposite the title is in my name already.

Yes, same here. When I return the vehicle at the end of the lease, I sign the registration over to the dealer and BMW Canada sends you a letter that they no longer have interests in the vehicle.

vreihen16 · 08-21-2024, 10:02 AM

Why don't you try to keep it at the end of the lease, and let us know how it works out for you?????

Portimao Blue M440ix · 08-21-2024, 11:13 AM

Quote:

Originally Posted by vreihen16

Why don't you try to keep it at the end of the lease, and let us know how it works out for you?????

I just might. I'll let them chase me to get the car back lol

08-21-2024, 08:42 AM	#1
Portimao Blue M440ix Private First Class 102 Rep 133 Posts Drives: Bmw m440i g22 Bmw 335i e92 Join Date: Mar 2024 Location: Toronto iTrader: (0)	Vehicle Registration Issue I just came to realize that there is a registration issue with my leased vehicle. The leased vehicle was registered in my name as the owner of the car. Normally the name on the registration as the owner of the vehicle would be the leasing company. I don't have any experience with leased vehicles so I'm wondering what my position is on this. If I'm the registered owner is the car mine? How can the lease company get the car back if I don't sign the ownership over. I live in Ontario, Canada if that helps.
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08-21-2024, 08:51 AM	#2
cmyx6go Colonel 16814 Rep 2,088 Posts Drives: 2022 X6///M Comp Join Date: Aug 2015 Location: NYC iTrader: (2) Garage List 2019 X6 ///M [10.00]	I don't know how it works in Canada. Here it varies from state to state who shows on the registration. But the registration does not reflect ownership, the title does. I just bought out my lease. The registration was in my name during the lease, but the title is in the leasing company's name. They signed the title over to me. I did not need to re-register. Hope this helps. __________________ I thought I was a good person but the way I react when people drive slowly in the left lane would suggest otherwise
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08-21-2024, 08:52 AM	#3
spazzyfry123 Lieutenant Colonel 4993 Rep 1,973 Posts Drives: Here and There Join Date: Jul 2013 Location: North Georgia Mountains iTrader: (1) Garage List (2)11 BMW E90M Stri ... [10.00] (1)11 BMW E90M Stri ... [10.00] 98 Lexus LS400 [10.00] 16 Toyota Land Cruiser [10.00] 97 Toyota Land Cruiser [8.33]	Registration does not equal title. Same for anyone that would finance a car - registration would be in their name, but the title is the bank’s.
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08-21-2024, 09:52 AM	#4
Lady Jane Cailín gan eagla. 81713 Rep 1,048 Posts Drives: 2024 X3 M40i and R1200RT bike. Join Date: Mar 2020 Location: Atlantic Canada. iTrader: (0)	I lease my X3 for business reasons. Both my registrations and insurance slip show me and BMW as lessee and lessor. Maybe you have a different system in Ontario.
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08-21-2024, 09:53 AM	#5
Portimao Blue M440ix Private First Class 102 Rep 133 Posts Drives: Bmw m440i g22 Bmw 335i e92 Join Date: Mar 2024 Location: Toronto iTrader: (0)	The way its here. If I was to return the lease I would have to sign the ownership/title because I'm the owner the way they registered the car. If I wanted to keep the car it's the opposite the title is in my name already.
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08-21-2024, 10:02 AM	#7
vreihen16 Recovering Perfectionist 20540 Rep 1,005 Posts Drives: BMW-less :( Join Date: Jun 2019 Location: Orange County, NY iTrader: (0) Garage List 2014 Mighty Freight ... [0.00] 2000 Audi TT Quattro [0.00] 1967 Formula Vee [0.00]	Why don't you try to keep it at the end of the lease, and let us know how it works out for you????? __________________ Currently BMW-less.
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