The Ultimate Guide for a BMW Lease Transfer

Anthony October 23, 2019

The Ultimate Guide for a BMW Lease Transfer

If you’re trying to figure out how to do a BMW lease transfer, you might have a ton of questions on how to do it properly. I’ve been involved with 3 different lease transfers, with one of them being a BMW lease transfer. A guy on the west coast had a 650i Gran Coupe, with an MSRP of 102k. I got an insane deal on the lease transfer. So much in so that it led me to wanting to start Lease Transfer Club. After speaking with several people throughout the years, I’ve found no one really understand lease transfers. So with a chance to get a killer BMW by doing a BMW lease transfer, I feel everyone should be informed of it’s potential. While lease transfer are not for everyone, going through the BMW for a lease is horrible. The price you pay is insane! There’s another way, hence I hope this BMW lease transfer guide helps you in your process.

In this BMW lease transfer guide, I will go over the following

How to Do a BMW Lease Transfer
How Much is the BMW Lease Transfer Fee
How to Speed Up the BMW Lease Transfer Timeline
How is the BMW Lease Transfer Process
Transfer my BMW Lease – Help

How to Do a BMW Lease Transfer

If you’re the seller, the first step in doing a BMW lease transfer is to speak with your lease holding company (chances are it’s BMW Financial Services). If you’re not sure, simple check your BMW statement and call the number on the statement. Ask the BMW rep what’s involved in a lease transfer. That rep will sent you information (PDF file or a link to an article) about the steps involved. This will give you the exact steps needed in your specific situation on what’s involved to transfer your BMW lease.

There are certain restrictions when it comes to BMW lease transfers. For one, you need at least 6 months left on your lease in order to complete a BMW lease transfer. Additionally, your account with BMW needs to be in good standing (this holds true for all lease holding companies actually).

How Much is the BMW Lease Transfer Fee

Every lease holding company charges a lease transfer fee. BMW makes billions of dollars a year, so they know exactly how to squeeze more and more dollars out of you! The BMW lease transfer fee is $500. A step further , the part that’s a little annoying actually, is if you’re the potential buyer. In order to takeover a BMW lease, a buyer needs to pass BMW’s credit approval. So you have to pay to a BMW lease transfer fee even if they reject you! Granted you’re not paying the full $500 BMW transfer fee, you’re still paying part of it to get rejected. That’s a buzz kill!

How to Speed Up the BMW Lease Transfer Timeline

Sellers are eager to get out of their car lease & buyers are eager to get into it. The hold up, is how long it takes the BMW lease transfer timeline. After your credit check is approved 1-2 business days, after both parties review & sign BMW’s lease transfer paperwork, it’s a matter of BMW sending both the buyer & seller an executed lease transfer. At that point, and only at that point, is the BMW considered transferred to the new buyer. At that time, the buyer & seller can move forward with physically taking the car over (shipping  / pick up). The biggest holdup of the BMW lease transfer timeline is the actual buyer & seller. As long as both parties properly (key word is properly) fills out the paperwork, the BMW timeline is rather quick, about a week a so. The trick I’ve found, is to call the lease holding company & get a status of the transfer. I remember when I took over my BMW 650i, I called BMW literally every day. I always wanted to be in the know & the best way to do that, is from the source directly!

How is the BMW Lease Transfer Process

Believe it or not, BMW is amazing at lease transfer. The BMW lease transfer process is so smooth, so well informed, so well communicated, that it’s one of the better companies to do a lease transfer with. It’s not one of the cheapest, but what else would you expect from BMW! As mentioned before, the best part about the BMW lease transfer process is the ability for the buyer to be on the phone with the lease transfer company. By being able to speak with a live person & get instant updates, it makes that BMW lease transfer process incredibly smooth!

Transfer My BMW Lease – Help

You find yourself asking how to transfer my BMW lease. It’s critical you’re informed by guides like this & by speaking to your BMW lease holding company. After you know the parameters & are educated, it comes time to finding a buyer to takeover your BMW lease. This is always the hardest part. Kind of like selling a house, while your house might be amazing, you’re competing against so much inventory out there.  The best advice I can give you when you’re trying to transfer my BMW lease is as follows:

  1. List your BMW on a lease transfer site  – I know this is shameless plug! You need to put your BMW out there (think of it as a dating profile!) By listing your BMW lease at Lease Transfer Club, you get instant access to a set of unique buyers. Ones in which are looking to takeover a car lease. If history has taught you anything, the pool of these types of buyers is small, but growing.
  2. Create a Killer Profile – Similar to a dating profile, you need your BMW lease to stand out. Take TONS of pictures, inside & out. Take clear picture during the daytime, plus even some at night time.  Provide as much information on your BMW lease as possible. Don’t be too vanilla in your profile either! After all, you’re dealing with a person that is looking at tons of cars.
  3. Offer an Incentive – since the competition is fierce, you will want to offer some sort of incentive. A person taking over a BMW lease will be more inclined to reach out if he knows he’ll get cash to takeover your lease.

Conclusion

As you can probably guess by now, I’m not a fan of car dealerships. The amount of overhead, the amount of time and the horrible deals presented to you are just insane. Instead of going through a BMW dealer to get your car lease, go directly to a buyer that is eager to take over your BMW lease. While the process might take some time, the results is a win-win for everyone involved. You can check out a list of BMWs available for lease transfers here.

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