Hello forum members!
(I am not exactly sure if this is the right category to post; if not, please move it to wherever you see appropriate)
I am writing to share my experience with the recent bmw lease assumption process during COVID-19.
I think this may help out those of you who are looking to transfer out or take over BMW lease at this time.
4/20 Monday: Called BMWFS and found out lease assumption was back open and initiated the process. Transferee filled out Credit app in the morning of 4/20 and got immediate approval. Few hours later in the afternoon, both parties received stage 2 documents via e-mail.
4/21 Tuesday: Both parties have completed the physical paperwork that came thru e-mail and sent out paperwork to BMWFS using USPS priority mail (2 days).
4/23 Thursday: Received e-mail that stage 2 docs have been received by BMWFS. Shortly after received another e-mail that stage 2 is now completed.
4/24 Friday: Received the final e-mail from BMWFS that stage 3 has now been completed. Called BMWFS to see if there is anything else we need to wait on before handing over the vehicle to the new owner. They told me they sent over all paperwork necessary to register the vehicle using Fedex air; so once that is received by the new owner, it is safe to hand over the vehicle.
I think I may been one of the very first assumption applicant after they re-opened and this process could not have been more simple or easier than this.
Good luck to all of you that are looking to transfer out/in of lease at this time!
PM me for any additional question.
I’d be happy to answer any that I can.