Are BMW Financial Leases “assumable”
08-23-2005, 07:00 PM
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My Ride: 04 545 jet black/beige, smg sport,premium,sunshades,logic7,cwp,nav,pdc,bluetooth,16.0,light tint all around,Pirelli PZeroNero
yes,they are.takes about 4 weeks and costs 400 or 450 $.You can call BMWFS and they will send/fax you applcation.I am about to do it in next 3-4 weeks.Good luck!
08-23-2005, 07:02 PM
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Yes ...as long the 'assumer' has equal or better credit ... however you will be on the hook still till after the lease.... basically you will be the back up if the assumer defaults....
your other option is find payoff and sell at / above / below payoff to relieve all responsibilities.....
your other option is find payoff and sell at / above / below payoff to relieve all responsibilities.....
Originally Posted by 545 Driver' date='Aug 23 2005, 08:50 PM
left my paperwork at the office (BMW financial is closed right now) and I'm curious...
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08-23-2005, 07:10 PM
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My Ride: 2002 325i - SOLD
2006 525i - PCD in August '05
1999 CVPI - My work car
Originally Posted by RAS1398' date='Aug 23 2005, 10:02 PM
Yes ...as long the 'assumer' has equal or better credit ... however you will be on the hook still till after the lease.... basically you will be the back up if the assumer defaults....
08-23-2005, 07:26 PM
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this is NOT TRUE, if you transfer the lease with BMWFS, you are no longer liable whatsoever....
Originally Posted by RAS1398' date='Aug 23 2005, 10:02 PM
Yes ...as long the 'assumer' has equal or better credit ... however you will be on the hook still till after the lease.... basically you will be the back up if the assumer defaults....
your other option is find payoff and sell at / above / below payoff to relieve all responsibilities.....
[quote name='545 Driver' date='Aug 23 2005, 08:50 PM']left my paperwork at the office (BMW financial is closed right now) and I'm curious...
your other option is find payoff and sell at / above / below payoff to relieve all responsibilities.....
[quote name='545 Driver' date='Aug 23 2005, 08:50 PM']left my paperwork at the office (BMW financial is closed right now) and I'm curious...
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08-23-2005, 07:32 PM
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My Ride: 2002 325i - SOLD
2006 525i - PCD in August '05
1999 CVPI - My work car
I didn't think it was.. is there anywhere where it proves yes or no? I am really curious now.
08-23-2005, 09:46 PM
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With most leasing companies, if you have someone assume your lease, you still are liable, only for that which they cannot get from the assumor. Let's say Sam Smith takes over your lease, but stops payments - they go after him, but can't get him. Guess where they go next??
08-24-2005, 12:11 AM
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I transferred my BMW lease a couple of months ago and have the documentation.... you can also called up BMWFS's lease assumtion department and ask for it.... my account with BMWFS is closed, and it's no longer associated with my credit.... some companies will keep you on the hook, but BMW doesn't......
Originally Posted by Vitacura' date='Aug 23 2005, 10:32 PM
I didn't think it was.. is there anywhere where it proves yes or no? I am really curious now.
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