BMW M3 Lease Transfer - Specific Questions On Getting Approved

Ask the Hackrs
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62

yes, dad fully qualifies for the car, and if dad wants one he can probably afford it😁

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63

Without someone on the inside, we will probably never know what the differences are between new leases and assumptions. I do recall a few years ago though sweating if a transfer was going to go through when I was trying to take over a car. I was not concerned with anything on my end, only that the person I was taking it over from appeared to have such a high net worth ($50M+ I would guess…and I might be low…) that I figured the leasing company would have zero interest in transferring it to a grade 1 peon like me :slight_smile: But, it did actually go through no problem.

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64

DTI is very important and we don’t have that info. OP said his dad will be getting a mortgage soon, so I don’t think that will help his chances of getting approved.

65

Leasing an M3 certainly wouldn’t help with the mortgage approval. OP should probably hold off if thats the case.

66

It’s probably a catch 22. If one gets approved for the lease now, it will affect the home purchase. If the home purchase goes through first, it will then perhaps negatively affect the lease application. All of this says to me, too much risk, the universe says one is barking up the wrong tree.

4 Likes
67

Op has a better chance of getting a new car leased with his dad than getting a lease transfer approved. Bmwfs has more strict policies for transfers compared to new vehicle agreement.

68

1000% agee, for any m4s left :wink:

69

Fair Point…though they may be not be published, I wouldn’t be surprised if the credit score needed has risen 10-20 points in the last few months.

70

We should also discuss the deal at hand…

$899 for an 18 M3

That doesn’t sound so not. We’ve seen them sub 7 in NJ on the transfer forum if I recall

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71

Just a quick data point on a lease transfer.
Applied and got an instant approval on Jun 9.
Experian 701 with 3 previous leases completed.
But first time with BMWFS.
(However my Transunion score is 756.)
BMWFS only pulled from Experian. Im in Cali.

72

$659 effective not bad imo
Comp pack + exec pack

I also think OP is putting $6300 as MSDs

73

I only skimmed the thread but I didn’t see anyone mentioning anything about a 900 payment on this car

Maybe I missed it

74

My bad–think there’s a confusion
OP is leasing for $899 with $6300 MSDs
I was agreeing w you that his car is on the pricier end especially since he’s doing MSDs… and the deal I listed was just an example of what’s out there

just like this one. $797 a month for an 87k MSRP M3…balls to the wall loaded

75

There was a whole other thread on this yesterday.

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hey @Chris0622

is this the car? https://www.swapalease.com/lease/details/2018-BMW-M3.aspx?salid=1464643

hot spec, same as my M4----except mine’s full leather :slight_smile:

also “This M3 Competition package also comes with tune and down pipes producing 575 HP” DAAAAMN!!! & a M perf exhaust as well…nice

77

Thought it was 650 but he showed me his credit karma and fico scores and it’s 700+

78

Yes haha, it’s such a beautiful car

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Be aware that these are not always accurate. They tend to be a good bit higher than actual scores.

@trism has done a great discussion on the matter here: Covid19 lease payment deferral ruined my credit score - #36 by trism

80

Sadly BMW doesnt lease M3s anymore

81

It is competition package