BMWFS Lease Assumption Process and Timeline

I received the same email Monday of last week and I still haven’t gotten the s3 confirmation. Just wait it out.

Still waiting for stage 3 email from bmw…almost 10 biz days.

Absolutely wait until Stage 3 email before handing over or transporting. It’s your vehicle until that point and your insurance covering it.

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Yeah I called BMW and they told me it may take 12 business days and to not transfer the car until stage 3 is completed since the person can still back out. I spoke to the transferee and they are going to put the pick up on hold.

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Talked to BMWFS today. Stage 2 email 8/27, she said could be another 7-10 biz days for stage 3 complete email. They are swamped with assumptions.

For me it took 10 business days last month (CA to CA)
stage 2 email: 7/27
stage 3 email: 8/7

Did you get your stage 3 completed yet?

I did today. I called them yesterday and had a nice conversation. I would encourage you to call and explain why you need it sooner rather than later. :slight_smile:

They’re closed now… I called on Wednesday and they said it’d take 10 days (they were reviewing stuff from August 26th). Today would me the 9th day since stage 2 completed. I’ll wait till Monday and see. Thank you.

amazing! I just called AAA, they said they don’t do registration for leasing assumption.

could I know which AAA branch you went to ?

thanks

They told me the same thing when I called. I’m in Southern CA and went to the Diamond Bar branch. It was quick and EZ.

CA to CA transfer. Started on August 24th. Completed today Sep 21.
I’ll go to AAA and see what happens.

CA to CA
Stage 2 Completed: Sept 9th

Today is Sept 22th, yet to get the stage 3 notification.

AAA in Tustin market place (Orange County) did the transfer in 10 minutes. $23 transfer fee.

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This isn’t my first assumption/transfer so I’m frustrated things are taking this long. The buyer was credit approved back on 8/27, Stage 2 docs received on 9/4.

Since then we’ve been in this limbo stage of trying to understand what the hold up is on receiving updates on the status. I’ve been told by BMWFS they are so backlogged they no longer send out email updates on status. This seems odd as it leaves us blind. When I call they confirm both sets of docs are there and under review. We have tracking that proves it too, but yet 3 weeks have gone by and no progress.

Suggestions? Just keep waiting?

This is also what I am experiencing. TX to CA timeline below:

Credit app sent 9/8 8:12am CT; submitted by transferee later that day
Credit approval 9/11 1:13pm CT (some business about my prior applicant who did not pass credit gumming up the system)
Stage 2 docs received 9/15 9:49am CT; overnighted 11:00am same day (transferee sent his the next day via overnight)
Delivered 9/16 9:23am ET per Fedex (transferee’s delivered 9/17 at 3:52pm ET)
Stage 2 docs received email 9/18 9:27am CT (transferor set)

No further emails since. Both me and the transferee called BMWFS and they confirmed they had the transferee’s docs as of 9/22 and needed “3-5 business days” to review. From there they would need 7-10 business days for stage 3. They said they aren’t sending email confirms anymore (weird) and that they have over 1,000 transfers being handled by a 5 person team right now. I am sure this will stretch on forever now…

Stage 2 rework (transferee docs) email 9/25 11:08am CT…

Hi asfarr,
Any word from bmwfs with your stage 3?
On the same situation lol.
Thanks

Von - No. The revised doc (apparently one signature by the transferee was not “clear” enough) was overnighted Friday 9/25 and delivered Saturday 9/26. As of today I called BMW FS to check on status and they said they had still not gotten around to mail from Friday or Monday but hoped they could confirm later today…I won’t hold my breath.

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I called BMWFS this afternoon as well. Things are not looking good with assumption timelines guys…be warned. Stage 2 docs received 9/4, and they still haven’t cleared Stage 2. Once they have…I’m told by COB Friday assuming no re-work then its 10-14 business days until Stage 3!!!

This is my second transfer in 2020 and I’m truly shocked by the length of time and horrible communication about status. Message from customer services was 300+ pending Stage 2 transfers and a 2 person team.

All of this said, BMWFS is still one of the best to deal with and this ability to transfer makes lease hacking better for both sides. But wow…they need to get it together.