BMWFS Lease Assumption Process and Timeline

Here’s the letter I received today about cancel the license plates…thoughts? This is different from release of liability.

Thank you for completing the paperwork for the lease assumption. This letter will serve as confirmation that lease account number 400xxxxxx is now in the name of ****** At this time, you should cancel the license plates for the referenced vehicle. Many states use plate registration as an indicator to bill tickets and/or property tax. Please contact your local Department of Motor Vehicles for the plate cancellation process. You will be responsible for the payments, charges, and fees incurred prior to 05/08/2024. Please retain the enclosed documents for your permanent records.

Mine took 3 weeks from start to finish-very fast!

Based on my call this morning, BMW has changed how payment is made to start the assumption process. Now the current lessee is responsible for the payment rather than the one assuming the lease.

License plates stay with the car in California, so they do not need to be cancelled. As mentioned above, you do need to submit the Notice of Transfer/Release of Liability form.

The letter from BMW appears to be a standard letter that does not fit all situations.