My lease transfer is pending and we provided all docs to mercedes. The transferee is approved, mercedes customer service said initial review looks good and final decision is pending (which should be done by this friday).
the transferee already booked tickets to pick up the vehicle (out of state transfer). They want to pick up the car with my plates. They said they will take insurance and provide proof because there isnt enough time to get it registered.
what are the potential issues if I go through with it? please suggest
previous/first post: Can someone who has experience with mercedes lease transfer throw some insight on these:
I sent the credit application to the person who is going to assume the lease. How long will mercedes finance take to give decision on the application?
what happens to the already paid property taxes if the transferee is from a different state?
If the lease transfer happens in the mid of the month, Can I ask the transferee to pay half of the month’s lease payment to me?
not really…im assuming the person taking care of ur lease is doing u favor since you need to get rid of it. So as courtesy, let him enjoy that half a month for free.
I don’t think they are doing me a favor, it’s a business deal. I need to get rid of it, they need something with a short term lease and no downpayment.
but it makes sense to give half a month free and let them know that I am doing so as an incentive for goodwill. thanks!
My lease transfer is pending and we provided all docs to mercedes. The transferee is approved, mercedes customer service said initial review looks good and final decision is pending (which should be done by this friday).
the transferee already booked tickets to pick up the vehicle (out of state transfer). They want to pick up the car with my plates. They said they will take insurance and provide proof because there isnt enough time to get it registered.
what are the potential issues if I go through with it? please suggest
I’m in the process of my second transfer. Two things I caution you about. First, don’t rely on anything MBFS “says”. Wait for the final documents. Second, I do not think MBFS will allow the transfer to be completed without the vehicle being registered and insured.
Quote " First, don’t rely on anything MBFS “says”." - this is 100% correct
MBFS mentioned that the transfer would be finalized first (can’t reverse after this), then will send paperwork to transferee to get the registration done.
I’m going through the same process trying to take over a Mercedes lease. They are taking forever. I thought Lexus had an antiquated process, and Mercedes is giving them a run for their money.
I took over two MBZ leases and the transfer process is easy, long and you have to stay on top because MB Financial won’t alert you to pick up after they report to previous leaser. If the leaser doesn’t know to alert you to take over then you will have to wait longer. I also, requested to expedite the process on my last swap and it two took weeks vice 3-4 (that was after I was approved and everthing).
In my state at least, the plates belong to the person and not the vehicle. When I turned in my BMW and took over the Lexus, I just took the plates off the car and re-registered on the new car. I know that in some other states, the plates belong to the vehicle, so it might be worth a call to the local BMV/DMV to see what they say.
Thankfully, the person exiting the lease is very responsive. However, when MB says it will take them 5-7 days after I passed the credit check to email the docs to the current owner, it took every bit of that even with both of us calling. I’d love to expedite it as I turn my car in tomorrow, and can’t have the transport company pick up the new one for at least a couple of weeks now according to MB. I can have everything signed, insured, and transport arranged by tomorrow if needed.
Can you share the timeline for your lease transfer with MB Financial. I want to start the process and was wondering how long does it take. Also what did you finally end up with doing with the registration? Did you keep your plates on the car?
@rk284 I just completed my transfer with MBFS. It took 4-5 wks total. The most frustrating part was trying to find someone to takeover the lease – which was mostly due to Mercedes’ stringent credit-approval for lease transfers. But once they approved the other party, I had to keep on MBFS to send out the paperwork. MBFS handled the transfer of the registration directly with DMV (that is the last step). I didn’t have vanity plates, so I kept them on the car.
in the process of transferring right now. We have to have the paperwork notarized but it also says we can email it to the transferee and back to MBFS. so they dont need the actual embossed version?
That is correct, they don’t need original notarized document. It should be fine as long as you are able to see the notary details clearly in the scan copy
It took 5 weeks for me. I kept on calling mbfs transfers department for every step, or else it would have taken longer. for example, after filling the credit app and waiting for a couple days I called and they said, they never got the credit app. the person I am transferring my lease had to apply again.
Though the process is slow, you can call them and ask for updates. The transfer customer people are friendly and courteous. They are a small team probably because everytime I called, only two persons answered by call.
I kept the plates as I live in CT and transferred them to my new lease.
