This is a deal that we did for a customer about a year ago… car was originally a loaner and is located in Los Angeles:
2019 BMW 440i Coupe (Alpine white / black leather)
MSRP: 59k: M-Sport, 19" wheels, black dakota leather, heated front seats,active blind spot detection, head up display,
Was a loaner at time of lease with 3600 miles
Condition: pristine with one of the back rims having very minor curb rash
Current mileage: 10,800
Allowed Mileage: 39,468
Lease ends: 12/14/21
Remaining Mileage: 28,668
Remaining months: 18.5
Miles/month: 1549
Miles/year: 18.5k
Monthly Payment: $405
**Payment upfront: $500 broker fee + $500 BMW transfer fee + $405 to customer (total of $1405)
Then there’s no incentive for anyone to take the car despite a good monthly payment - why would the new person be responsible for paying for someone else’s use of two months of this vehicle!? Sounds like someone is trying to get out of their vehicle for financial reasons which is fine but it’s not the new person’s responsibility. I know you’re the middle man but I can’t be the only one thinking this.
For whatever it’s worth, this is a 60k msrp 440i with m-sport with an artificially low $400 payment as the original customer bought it lower by putting down a large down payment of over $7k. In my opinion it’s a solid deal especially for someone who doesn’t want to commit to a 3 year lease in this environment.
Lease transfer cannot be initiated unless your account is current. No one is going to give you money to pay off your 2 payments before getting a credit app. This deal has way too many hoops to jump through for an average deal at best. There are much better deals on here with no strings attached.
The 2 deferred payments are $810 <— this will have to be paid by lease end
The remaining 1k are the $500 broker fee and $500 BMW transfer fee <-- this will be due at signing
Edit 6/8: one payment of $405 to customer is required upfront and customer will pay the other payment.
It was unbelievable, I think the original leasee had some reason for this approach as he was very business savvy. For me taking over the lease it was a thing of beauty. I think the payments were still in the $170 a month range even with this down payment back then though for a $56-57k (I think) 335.
With payment deferral, BMW doesnt consider it current. It will show a negative balance on your account but they just dont report it to the credit bureaus. To start the transfer process, you ll need to payoff your deferred payments to bring your acct to current. A call to bmwfs will confirm this.
