Hello All,
It’s time for us to transfer the lease of our very well-equipped 2016 340i Sedan. The car is in excellent condition. We have a lot of mileage left on the lease and the payment is only $403+tax per month. Not too shabby for a 340i with an original MSRP of $54,945. Well below the 1.0% rule (it’s actually just under 0.8% WITH my 8.25% tax included).
This is a clean lease transfer where we’re simply looking for someone to take over payments for the remaining 7 months (only 6 payments left). No MSDs or down payments to worry about. Plus, we’re covering the BMW transfer fee to keep things simple and efficient.
This car had an original MSRP of $54,945. I have included the original options list below for your reference:
2016 340i Sedan RWD
8 Speed Automatic
Mineral White Metallic
Black Dakota Leather w/ Oyster Highlight
19" Alloy Sport Wheels
Driver Assistance Package
-Rear view camera
-Park Distance Control (front/rear parking sensors)
Driver Assistance Plus
-Active Blind Spot
-Active Driving Detection
-Side and top view cameras
Luxury Package
Heated Seats
Navigation System
Wheel Locks
TOTAL MSRP: $54,945
Original Lease Term: 36 months
Allowed Mileage: 10k/year (30K total)
Current Vehicle Mileage: 18,608 (mileage will increase since my wife is still daily driving it around 30 mi/day)
Months Remaining: 7 (only 6 payments remaining)
Remaining Miles: 1,627/month (11,392 total remaining for lease term)
Excess Charge Per Mile: $0.25
Lease Start Date: 7/13/2016
Lease End Date: 7/13/2019
Residual: $36,263.70
Current Payoff: $38,389.81
Factory Warranty until July 13th, 2020.
Monthly Lease Payment: $403.33 + Tax (My CA tax is $33.27/month, which is 8.25%. Yours will vary based on your location)
NO DOWN PAYMENT OR MSDs!
BMW Lease Transfer Fee: $541.25 paid out to BMW directly, not me. However, I will reimburse the full $541.25 cost at the completion of the lease transfer to the new owner.
The lease transfer process takes roughly 10-14 business days to complete. The process time can be as quick as 7 business days if both parties are quick to fill out forms, talk to BMW, etc. I will work closely with the buyer to ensure a quick and smooth transaction.
Here is how the lease transfer process works:
Step 1: I will have BMW send you a credit app to complete. You will receive the link via email and be asked to pay a $541.25 transfer fee online directly to BMW. If you do not meet their credit requirements, BMW will refund $400 of the $541.25 back to you. They will keep the remainder for their processing fees. I will not reimburse any funds paid/lost due to a rejected credit application. If your credit is approved, then we move forward to Step 2.
Step 2: After your credit is approved, BMW will email both you and I a few forms to complete. These forms need to be signed/completed and mailed back to BMW. Once they receive the forms from both sides, they will send each of us email confirmations stating the documents have been received and are under review. If there are any corrections that need to be made on the documents, BMW will inform us during this stage. Once everything looks to be completed accurately, we will then move to Step 3.
Step 3: This is the final step in the process. BMW sends us both an email confirming all documentation has been reviewed and completed accurately, which then allows me to release the vehicle to you. When you come to pick up the vehicle, I will provide you with cash or a check for $541.25 to cover your transfer/application fees. I can also send to you via PayPal if you prefer.
So basically, I am looking for a clean transfer. No down payments or security deposits to worry about. Plus, I’m covering the $541.25 acquisition fee. The car is located in Danville, CA and is available immediately. I am open to shipping the vehicle if buyer sets up the shipping logistics and pays all shipping costs.
Please reach out to me with any questions. Thanks!
