Financial institution: BMWFS
Transfer fee: $500
Out-of-state transfer allowed (yes/no): Yes
Vehicle condition (accidents, tire wear, etc.), options, and other details: Will likely need new set of tires in the next 5,000 miles. Car has been on TURO.
You can transfer a one pay lease. I have done it with my i3. All you do is collect a lump sum amount from person taking over the lease and all they have to do after transfer is approved is go to dmv and get the plates for themselves. BMW will send the paperwork they will need at the dmv as the title still remains in name of BMW financial.
what will happen is that after the lease is transferred, the bill that comes to you monthly showing zero due, will start going to the new lease holder. Tax however might be an issue if you transfer out of state. If done within same state than its much easier.
Well…
A) no one on this site buys their cars at lease end and if they do they certainly don’t pay contract buyout.
B) BMW residuals have been inflated over what their actual lease end value is for a long time
C) Everyone that asks a buyout on a BMW lease transfer thread…
Re A. Not in this eco climate. And on those vroom carvana threads how many times do you see BMW? Lexus/Toyota and Honda are good contenders. Not my first rodeo.
I read you can’t negotiate buyout prices anymore on BMWs at lease end. Dealers who sell the vehicle under buyout gets penalized. Some change that happened in 2018.
I was disappointed since we really love our 640i GT…
Edit: OP has two 740is he/she wants transferred, wtf