I returned a leased car today. The CA DMV site says to complete a form (“If you return your leased vehicle to the lessor, you must complete a Notice of Transfer and Release of Liability and submit it to the DMV within five calendar days’”):
That DMV form asks for “New Owner” information (name, address), then “Sale information” (sales date and sale price) and finally Seller’s information (name, address). This form is clearly designed for sales transfers.
What do you enter in this when you have returned the car at end of a lease?
Do you recall if the “new owner” information you entered was the leasing company? Did you enter a sales price? Was your information “seller information”?
I’m no expert and have yet to return my lease but I took a look at the form online just thinking I should be aware of what will be required. Looking at the form my guess would be that the name and address of the leasing company to which you returned the car would be proper and n/a for the selling price because it was a lease return and not a sale. Looks like the form is a multipurpose from with not very clear directions. the FAQ are not much help except possibly this is relevant “Can the online NRL application be used if the buyer or seller is a business?
Yes. Start the business name in the last name field and continue into the first name field if necessary.”
Can’t believe no one at your at your leasing company could advise you :\
Sorry to bump this old thread and I can create a new thread if the mods prefer…
As I don’t want to wait any longer to transfer liability and BMW is closed, I’m wondering if anyone who leased a bmw in CA knows who to put for the “new owner”.
Is it bmw financial services? The dealer you lease and returned to?
@Billium Here is what Audi FS says to fill into those spots, BMW is likely similar. I would check to see if there’s an FAQ on the BMW FS website with details, that’s where I got the Audi info from.
I was under the impression this was all taken care of at the dealership. I returned a leased BMW to BMW and leased another BMW. Then, 5 months later, I received a notice from the DMV that my registration for my returned vehicle was overdue. I have leased several times before and this has never happened.
I just got my registration renewal, there is even a spot there to fill out and return if you are switching or a Non-Operating registration or disposing of the vehicle.
This means the car was sold out of state, and CA has no notification of that…so therefore you owe money.
I learned that on lease #2, now I always fill out that form after turning in my car.
Looked through my documents and the dealership provided a photocopy of the release form. Think they would waive it if I provided it to them? Also, I transferred my plates from the old lease to the new lease.
Snap! Did the notice you received from DMV have a mailing, email, fax for reply?
My move would be to photocopy the form the dealership gave you, send it back with the notice and a note that says something like “enclosed is a copy of the original that was submitted on my behalf to the DMV on $date, Along with registration paperwork for my new lease which transfer the plates from this car to the current one. please confirm your receipt and that any penalties or fees have been waived “
Just go online and fill out the form and backdate it, that’s what I did for #2
when I said ‘you owe money’ I mean DMV thinks ‘you owe money’ because the car wasn’t registered in CA to a new owner, therefore to them they think you still have it. Fill out the form online and all will be good.
