I had someone wanting to takeover my lease a few weeks ago that fell through. He was at one point interested so I began the lease process by calling BMW and shared his email. My understanding is that he would need to pay the $400 assumption fee + $100 app fee upfront to begin the process. He stopped answering so I assumed it fell through. I just checked my statement and BMW put the $500 fees mentioned above on my statement. Can I get these fees removed? Something I’m thinking is that he filled out the application and told them I’d pay for it.
If he never filled out the app, call BMW and ask what the deal is. I find the people at BMWFS are generally helpful. None of us can tell you for sure what the deal might be in your particular case.
When I assumed my BMW lease, I was required to pay the $500 before filling out the assumption credit application online. The person would not be able to tell BMW Financial Services you were paying the fees. That would have to be a separate, private transaction (i.e., you would have to reimburse him independently of BMW).
However, I have attached a copy of the Assumption Process Overview. Pay close attention to Stage 1.
I am curious what happened, so I hope you post back upon their reply.
I’ll be sure to reply back Monday after I speak to them. I’ve done a lease transfer before and the applicant had to pay the $500 upfront and it showed as a payment on my account. I’m now thinking it was put on account after I submitted their email to BMW as a pre-bill for the assumption process.
