you may find this helpful if you are looking to swap into or get out of a lease…
I found someone to take over my Audi lease (yes, yes, I remain liable for it, boo VW), and Audi Financial Services told me today that none of the leasing companies can transfer leases in NY and NJ because the DMVs are indefinitely closed, and there is no way for new lessees to register the car/get new plates! They said that lease assumption processing would begin again pending DMV reopening in NY…maybe may 15? Really no clue. I remember BMW closed their transfers for a bit. Anyone else heard about this with other brands?
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Makes sense. What can they do about it. Car would remain registered to and insured by you while someone is driving, otherwise. That’s not something you want, I’m sure.
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Their hands are tied. The lessor simply cannot transfer the lease without proper registration documents
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I just completed a transfer of a BMW from NJ to NJ. I drove the car to his house on my plate, then took it off. He won’t be able to legally drive the car until the NJ MVC reopens and he gets registration/plates.
That worked out for you as the seller. Not so much for the buyer.
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MVC is supposed to reopen on May 15th (at least that’s what he said), and I had literally just paid the next month’s payment, which he reimbursed me for 50% of. I think it was fair.
I’m not saying you did anything unfair.
But buyers beware that they can’t get plates or drive their cars until MVC/DMVs reopen in their states.
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