WA to FL transfer:
Credit app submitted and approved: Sep 10th.
Stage 1 overnighted by both parties: Sep 11th
Stage 2 completed: Sep 19th
Assumption complete and car is good for release: Sep 28th
BMWFS account off credit report on Oct 2nd.
As an update - as of today according to BMW FS they are in the process of reviewing/preparing stage 3 for September 18 (stage 2 complete) lease transfers…they have well over 1000 in line still.
At least you got your Stage 2. You sent your correction in at the same time as me, and yet you somehow have Stage 2 completion before me. Who knows wtf is going on over there.
No rhyme or reason—I share your frustration.
CA to AZ Transfer
Credit App Submitted and approved - 9/1
Stage 2 Documents Received by seller/buyer - 9/2 - BMW ordered CA title
Stage 2 Documents Received by BMW - 9/4
Stage 2 Documents Completed but waiting on CA DMV copy of title - 9/14
Stage 2 Complete after receiving copy of title from CA DMV - 9/21
Stage 3 Complete email - 10/7
Hang in there!
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Your timeline masks sense, as BMW told me yesterday that they were processing Stage 2 completions from the 21st.
To update everyone, I got my Stage 2 Completion, finally, this Tuesday. As I mentioned above, BMW is about 2 weeks behind on sending out Stage 3 docs. As of 10/7, they told me they were processing those who completed Stage 2 on 9/21. She said they are trying to move through as quickly as possible, sometimes they catch up 1 day per day, sometimes they catch up 2 days per day. She told me realistically to expect about 2 weeks for Stage 3.
2 weeks between stage 2 and 3 or 2 weeks in addition to their quoted “10-14” BDs?
right now about 2 weeks from stage 2 completion to stage 3. Their quoted time is accurate.
Called today for an update. We completed Stage 2 on 10/05 and the rep said they’re moving through their backlog at a decent speed. Said 7-10 business days from stage 2 to stage 3 completion. But if there were any delays the max time she’s seen is 12 business days. So, hoping they can get these done on the low side of the timelines! Glad they’re giving everyone accurate information, all seems to be consistent.
Update for you fellas!
Credit app 9/9/20
Credit app approved 9/9/20
Docs recvd - 9/15
Stage 2 completed - 9/24, bmwfs email says will be completed 5 biz days(bs!)
It’s 6 biz days now, so i dont know…
Stage 3 - no update as of 9/24.
Stage 3 complete today! 10/9
Congratulations! We are pleased to inform you the lease assumption is complete and the documents required to register this vehicle has been sent to you via Federal Express. This email confirms that you are authorized to take possession of the vehicle.
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One question generally–why the need for overlapping insurance during the pending transfer? My transferee had to put insurance on for Stage 2 and then with the long delay I am still insuring the car too–so theoretically if it exploded in my garage BMW collects twice? (Joking, but seriously, does the transferee not have the same 30 day grace period to add the car on his or her insurance like if you take the car home new?)
Generally speaking. When you buy from the dealership they always ask for some sort of insurance (at least with every car I’ve bought). Doesn’t need to be for that car specifically, but they ask for proof of a policy that you’re covered under and use that.
No understood but why is that not good enough? The stage 2 paperwork requires transferee to add the car to their insurance at that time.
Why would BMWFS assume whatever grace period you’re referring to applies in all 50 states and/or all insurers?
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Anyone have any timing updates/recent experience on the 2 to 3 gap? I am coming up on 10 business days since Stage 2 approval (if you ignore the day of approval, even though it came first thing in the morning)…
10 days is tomorrow for me. Looking like they’re sticking to the 12-14 day timeline. Hopefully completed next week!
Same here (tomorrow). Fingers crossed.
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I called BMWFS today to check the status of my transfer (stage 2 complete, awaiting stage 3), and can echo some of the comments here. They said they’re still working on 9/25 stage 2 approvals, and quoted 12-14 business days. My stage 2 was complete 9/30, so tomorrow will be day 12. For reference, it’s been a month since the transfer was first initiated (9/14).
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Let us know if yours completes tomorrow. Would give the rest of us a good timeline! I also started on the 15th so you’re lucky you’re a few days ahead lol.
Credit app 9/1
Credit app approved 9/1
Stage 2 received - 9/2
Stage 2 filled out/sent - 9/3
Stage 2 BMWFS received - 9/4
Stage 2 completed - 9/16
Stage 2 Issue - 10/2 (clowns said my signature doesn’t match my own account nearly 3 weeks after the Stage 2 complete email, at 5pm on a friday (10/2). 9am on 10/5, I spend an hour yelling at them threatening getting a lawyer and what do you know, they admit it’s their fault for saying its incomplete 3 weeks later.
Stage 2 complete (Again) - 10/5
Stage 3 complete - 10/5 (After yelling it looked like they straightened out.)