BMWFS lease early pay off without taking ownership of the vehicle

Thanks friend, very helpful.
One last question hopefully😜
When paying in advance, you just pay monthly times remaining month or they quoted a new payoff amount with interest recalculated.
The representative I talked said they do not quote one payment amount unless buy the whole car and take the ownership

Yes, just take your monthly payment times the number of months left and send that amount in and youll be cool with BMWFS.

Hopefully some of the other more credit savvy members can join in with this conversation and fill in the gaps. I’m certainly not an expert on it, so I can only report on what I have seen on my end.

Do you have a time constraint for when the payment needs to show $0 on your credit reports, or will the lender on the investment property manually verify that the lease has been paid off?

I don’t really have a follow-up question based on your answer, I’m just looking a couple of steps ahead to see if there are any assumptions that should be validated if you plan to pay it off.

You must have been reading my mind @trism …I was hoping you would join into this thread✔️

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Relative flexible timeframe at this moment and plan to payoff the lease 4-6 weeks before a new application submit to underwriter. In case the credit profile still show account open or with small balance, my loan agent may send the proof of payoff or the latest statement as supplement documents.
Anyway, clean credit report still preferred. That would save time and paper to explain all details to the underwriter

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