BMW lease transfers

Rob_G77 · 02-15-2023, 02:58 AM

I did a lease transfer (to another person) on my 2022 Z4 last August and one thing that struck me as very odd was that I never signed any paperwork. Heck, I didn't even see any since my dealership did everything.

I was complacent because I thought as long as I didn't sign anything, I would always have the last say before keys were handed over. Then at one point the other guy was given the car by the dealership - suddenly it's now a done deal. And I was left thinking WTF? So I contacted BMW Financial who contacted the dealership. I got reamed out by the dealership for making them look bad, like that is all that mattered.

So 6 months have gone by and this just isn't sitting well with me. Water under the bridge you may think, but I keep wondering how on earth someone can take possession of a car I leased without my signature? So I contacted BMW Financing again today and kept asking them for the signed documents with my signature. They told me they don't have any copies of the documents and kept telling me to get that from the dealership. Either the person I am corresponding with from BMW is a moron, they don't give a fuck, both or something super fishy is going on here. I found a PDF for BMW USA lease assumptions (I'm in Canada) and it specifically states there are 3 phases where phase 2 both parties have to complete and sign paperwork. But, I never saw any paperwork, let alone signed anything.

It's part of a much bigger issue I have with my dealership that has been exasperated by other shit going on lately. It's just so frustrating and I'm tired of it all.

Anyone who has done a lease transfer to someone else. You had to sign paperwork right?

edit: Apparently it looks like I did sign papers. I think it was done while I was signing other papers which is why I don't specifically remember this. That's the only explanation I can think of.

Rob

tturedraider · 02-15-2023, 12:43 PM

You should definitely keep pursuing this!

Westside Guy · 02-15-2023, 01:22 PM

Rob, I don't think that you are wrong and screw the dealer for saying that you made them look bad!

MurrayB · 02-16-2023, 09:43 AM

They may have used the Power of Attorney that you signed when you originally leased the car.

chad86tsi · 02-16-2023, 10:47 AM

You also never owned it, you were merely renting it in a way. The leasing company is the only entity on the title. Not all that different form renting a car at an airport, you don't have to sign away ownership rights when you turn it in.

There is still some financial entanglement that needs sorted out, but as to signing away your release, it may not require much to relinquish your possession for the purpose of re-sale/re-lease.

Rob_G77 · 02-16-2023, 04:04 PM

........

Rob

chad86tsi · 02-16-2023, 05:59 PM

Glad to hear you are free of financial responsibilities in it.

quandary · 02-19-2023, 12:27 AM

There is a lease transfer contract that has to be signed and a transfer fee (I think it was $400.) I've done it. Without it being formalized, you still have liability at the end of the lease e.g. the the driven kms exceed the annual allowance or if the new lease terminates early. Both BMW finance and the dealer must have a copy if it exists.

itrocks4u · 02-19-2023, 03:56 AM

I did a lease transfer at Pfaff BMW. When both parties were sitting at the finance office, I signed a few papers (or maybe one) that indicated the transfer of vehicle. Regardless, since it was done at a dealership, I wouldn't worry too much about it.

In the US, the process is completely remote so a lot more signatures required.

02-15-2023, 02:58 AM	#1
Rob_G77 Major 1316 Rep 1,495 Posts Drives: Nothing Join Date: Feb 2020 Location: Regina, SK iTrader: (0)	BMW lease transfers I did a lease transfer (to another person) on my 2022 Z4 last August and one thing that struck me as very odd was that I never signed any paperwork. Heck, I didn't even see any since my dealership did everything. I was complacent because I thought as long as I didn't sign anything, I would always have the last say before keys were handed over. Then at one point the other guy was given the car by the dealership - suddenly it's now a done deal. And I was left thinking WTF? So I contacted BMW Financial who contacted the dealership. I got reamed out by the dealership for making them look bad, like that is all that mattered. So 6 months have gone by and this just isn't sitting well with me. Water under the bridge you may think, but I keep wondering how on earth someone can take possession of a car I leased without my signature? So I contacted BMW Financing again today and kept asking them for the signed documents with my signature. They told me they don't have any copies of the documents and kept telling me to get that from the dealership. Either the person I am corresponding with from BMW is a moron, they don't give a fuck, both or something super fishy is going on here. I found a PDF for BMW USA lease assumptions (I'm in Canada) and it specifically states there are 3 phases where phase 2 both parties have to complete and sign paperwork. But, I never saw any paperwork, let alone signed anything. It's part of a much bigger issue I have with my dealership that has been exasperated by other shit going on lately. It's just so frustrating and I'm tired of it all. Anyone who has done a lease transfer to someone else. You had to sign paperwork right? edit: Apparently it looks like I did sign papers. I think it was done while I was signing other papers which is why I don't specifically remember this. That's the only explanation I can think of. Rob Last edited by Rob_G77; 02-16-2023 at 10:05 PM..
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02-15-2023, 12:43 PM	#2
tturedraider Major General 6672 Rep 7,212 Posts Drives: 2018 340i M Sport Join Date: Apr 2006 Location: Chicago, Edgewater (via Texas & Tennessee) iTrader: (0) Garage List 2006 BMW 330i Sport [7.17] 2018 BMW 340i M Sport [8.89] 2020 BMW M340i xDrive [9.00] 2018 BMW 340i M Sport [8.00] 2004 BMW 330i ZHP [7.83] 2000 BMW 328i [6.17]	You should definitely keep pursuing this! __________________ www.bmwcca.org member #388003 - Use me as a referral & you could win a one day ///M Driving School!! notice: I don’t suffer fools ___________________________________________
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02-15-2023, 01:22 PM	#3
Westside Guy Major General 8719 Rep 5,877 Posts Drives: 22 Z4 M40i, 21 228i Retired Join Date: Sep 2021 Location: Hallandale Beach, FL iTrader: (0) Garage List 2022 BMW Z4 M40i [9.72]	Rob, I don't think that you are wrong and screw the dealer for saying that you made them look bad!
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02-16-2023, 09:43 AM	#4
MurrayB Private First Class 102 Rep 150 Posts Drives: 2020 BMW M340ix Join Date: Dec 2018 Location: Tampa Bay/Longport NJ iTrader: (0)	They may have used the Power of Attorney that you signed when you originally leased the car.
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02-16-2023, 10:47 AM	#5
chad86tsi Captain 1608 Rep 699 Posts Drives: 2019 BMW M760i P60 Greyblack Join Date: Apr 2022 Location: Portland metro iTrader: (0)	You also never owned it, you were merely renting it in a way. The leasing company is the only entity on the title. Not all that different form renting a car at an airport, you don't have to sign away ownership rights when you turn it in. There is still some financial entanglement that needs sorted out, but as to signing away your release, it may not require much to relinquish your possession for the purpose of re-sale/re-lease.
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02-16-2023, 04:04 PM	#6
Rob_G77 Major 1316 Rep 1,495 Posts Drives: Nothing Join Date: Feb 2020 Location: Regina, SK iTrader: (0)	........ Rob Last edited by Rob_G77; 02-16-2023 at 10:02 PM..
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02-16-2023, 05:59 PM	#7
chad86tsi Captain 1608 Rep 699 Posts Drives: 2019 BMW M760i P60 Greyblack Join Date: Apr 2022 Location: Portland metro iTrader: (0)	Glad to hear you are free of financial responsibilities in it.
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02-19-2023, 12:27 AM	#8
quandary Private 14 Rep 67 Posts Drives: X5 Join Date: Apr 2017 Location: Ontario iTrader: (0)	There is a lease transfer contract that has to be signed and a transfer fee (I think it was $400.) I've done it. Without it being formalized, you still have liability at the end of the lease e.g. the the driven kms exceed the annual allowance or if the new lease terminates early. Both BMW finance and the dealer must have a copy if it exists.
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02-19-2023, 03:56 AM	#9
itrocks4u Colonel 661 Rep 2,478 Posts Drives: F80, F36, E90 Join Date: Aug 2011 Location: Bay Area iTrader: (3)	I did a lease transfer at Pfaff BMW. When both parties were sitting at the finance office, I signed a few papers (or maybe one) that indicated the transfer of vehicle. Regardless, since it was done at a dealership, I wouldn't worry too much about it. In the US, the process is completely remote so a lot more signatures required.
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