Ship it. Transferee’s cost.
Yes, the letter comes after a week or so but your account shows closed pretty much as soon as you get the stage 3 email.
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You have to ship figure shipping cost into the deal, and then if you want to confirm the cars condition, the use of a remote car inspection service (like Carchex).
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Here’s how things have gone so far:
PA to NY
12/28 - Credit Application and Credit Decision (immediate approval)
12/31 - Stage 2 Documents emailed - sent out an hour later
1/4 - Stage 2 Documents received
1/13 - Stage 2 Completed
1/14 - Stage 3 Completed
Things seem to be moving along nicely, hopefully it stays that way!
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Hey guys,
Currently stage 2 completed, pending Stage 3…
Assuming a car out of state , shipping it to NY
What was your process with DMV and transferring plates ? I am in a current BMW lease returning as soon as I receive the transfer car. Did you go to DMV and request plate transfer, add the car to insurance and get temp registration? Should I transfer plates or get new? How did you return the existing car back to dealership?
also any shipping company recommendations ? do they take pictures before shipping?
From my experience in NJ. The person that assumed my lease received what necessary authorization from BMW FS to register the car and get plates at the DMV. When he came to pickup, he has those in his hands. Plates won’t transfer especially for an out of state transfer.
Once completed, the new owner, added the car to his insurance then I removed it.
Final timeline for us:
Adding this post to track my experience. I am the transferor.
Stage 1: Transferee Credit App
Applied: 12/21. Instant Approval.
Stage 2 : Transfer Documents
Documents Email Received: 12/21
Completed & Sent:
-Transferor Sent (UPS 2nd Day): 12/21, Received: 12/23
-Transferee Sent (UPS Overnight): 12/22, Received: 12/23
Stage 2 Received:
-Transferor: 12/23
-Transferee: 12/23
Stage 2 Complete: 12/31
Stage 3: BMW Processing
Stage 3 Completed: 1/8/2021
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Got it thank you for your reply
So my best way to register the new car with new plates, and return the old back to dealership and surrender those plates?
It seems like a timeline has come down to 10 business days now. So thats a very positive note.
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The BMW FS transfer timeline seems a LOT quicker in 2021 than it was in 2020. Below are examples for two pending transfers I’m doing right now:
FIRST TRANSFER (Total Time - 11 days start to finish)
Stage 1: Credit App
1/4 - applied and received decision in 1 minute
Stage 2: Transfer Docs
1/5 - email received with Stage 2 docs
1/6 - transferor docs mailed out to BMW FS
1/7 - transferee docs mailed out to BMW FS
1/8 - BMW FS received both sets of docs
1/12 - Stage 2 Complete
Stage 3
1/15 - Assumption Complete
SECOND TRANSFER (Total Time - 16 days start to finish)
Stage 1: Credit App
1/12 - applied and received decision in 1 minute
Stage 2: Transfer Docs
1/12 - email received with Stage 2 docs within one hour of credit approval
1/12 - transferor docs sent out
1/13 - transferee docs sent out
1/14 - transferor docs received
1/22 - transferee docs received (he used snail mail)
1/26 - Stage 2 Complete
Stage 3
1/28 - Assumption Complete
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Awesome… they must be caught up or have cleared the bottlenecks.
Side note: you’ve got way too much practice with this lol 
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You have no idea lol
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Step 1 Complete 1/6
Step 2 documents overnighted 1/7
Step 2 documents confirmed recieved and that they were accurate 1/12
Step 3 TBD
Excitedly waiting to take over a M5 lease!
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taking over a BMW lease and I am from NY. The car is out of state from Virignia. I am wondering do i wait for bmw to send final docs and then i go to dmv to register the car. Then pick it up? Also, will NYS DMV have me pay the tax on the remaining months(16months) or the 36 month term.
Or do i pick it up and then register it?
Yes, because otherwise you have no legal way to drive the car back from VA to NY (without reg and plates).
This process will answer your second question, because you’ll know by then if BMWFS has paid tax on your behalf or not.
Side note: VA tax on 4.25% of the selling price, then 8.875% of NY tax on all remaining payments, ouch.
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could you explain why VA tax on 4.25% of selling price?
Their state, their rules…
State tax law, plus property taxes.
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Just updated my post, this seems really fast but just got the “Assumption Complete” email from BMW FS, process took 2.5 weeks.
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For everyone who is transferring from out of state to NY how long did registration take if you submitted online? When did you get the temp registration?
Just updated my post - transfer finished in only 11 days! That’s a new record for me personally, especially during Covid times. I did a transfer around Sept/Oct which took 8 weeks. This made up for it.
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