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      05-17-2020, 10:37 PM   #1
evoiii90
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2018 M3 CS Lease Transfer; White; $813+tax; CA;$0 Down; 1,182 miles/m; 5,180 miles

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Looking to transfer out the Lease of my 2018 BMW M3 CS located in Santa Clarita, CA 91355 (Los Angeles)


NOTE: Transfer is pending. New leasee has been credit approved by BMWFS, so unless something exceptional happens, the car is most like gone.


Bought in March 2019, MSRP: $101,845

NOTE:

Color: Alpine White on Black / Silverstone Bicolor Leather interior
Options:
Executive Package:
- Power Rear Sunshade
- Rear manual side window shades
- Park distance control
- Adaptive Full LED Lights
- Automatic High Beans
- Heads-up Display


Monthly Lease payment (pre-tax): $813.47 + Tax
No / Zero down payment except BMW’s Financial Services transfer fee ($500). They charge that.

Current mileage: 5,180 (will increase very slowly)
Maturity mileage / Total Mileage Allowed: 30,009
Remaining mileage on Lease: 24,829
Average Effective miles per month: 1,182
Maturity date / Lease end date: 03/12/2022
Remaining months on Lease: 21 (until next lease payment on 06/12)
Residual Value: $62,125
Current Lease Payoff until 06/09: $73,934.25
No MSDs, ie, I didn’t put down any Multiple Security Deposits.

Car Condition: Since a couple of people asked me, the car has no issues whatsoever, no damage anywhere, no body panel has been repainted or any other damage inside or outside the car. The car still looks like it roll out from the showroom. It still even has the window sticker and the blueish protection transparent film on the door sills and dead pedal.

When I got the car I added the brakes under the maintenance program, which added only $17 per month ($600 total) and since I was planning to track it, but never did, I only did one local autocross. This worked well for me when I got my original 2011 1M back then, which I still got. BMW replaced the 1M brakes twice for me back then.

Reason for transferring, need an SUV since some relatives just moved with me, but still keeping two other Ms including the 1M and E46 M3.

Attached at the end of the post is BMW FS’s “Assumption Process Overview and FAQ” PDF document that explains in detail the Lease Transfer process, which is probably going to answer many questions you might have on the process itself if you are considering taking over a lease and haven't done it before.

It usually takes BMW FS more or less two - three weeks to complete the lease transfer process, although there are ways to expedite it.

Attached Images
         
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File Type: pdf BMW_FS_Letter_04-20-20_4258.PDF (113.8 KB, 190 views)
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2011 Valencia Orange 1M
2003 E46 M3 (daily driver)
2011 E92 M3 track car (fun)

Sold: 1990 Euro Brilliant Rot Sport Evolution E30 M3

Last edited by evoiii90; 05-20-2020 at 06:49 PM.. Reason: Edit Title; Edit payoff amount; edit desc.
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      05-18-2020, 05:11 PM   #2
clevemont
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Wow, this might be the lowest monthly payment that I’ve ever seen for a CS with no MSDs. Timing is tough with COVID but I’m assuming this will be a great deal for someone that has been holding out for a cheap CS lease takeover.
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      05-18-2020, 11:02 PM   #3
18340i
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how much is the mileage penalty? (0.25/mile or more?)
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      05-19-2020, 01:25 PM   #4
evoiii90
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I think it's $025 per mile, but at lease end if you need more miles you can buy them at a discount with BMW's Extra Mileage Purchase Policy, which I think it's $0.22.

Quote:
Originally Posted by 18340i View Post
how much is the mileage penalty? (0.25/mile or more?)
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2011 Valencia Orange 1M
2003 E46 M3 (daily driver)
2011 E92 M3 track car (fun)

Sold: 1990 Euro Brilliant Rot Sport Evolution E30 M3
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      05-24-2020, 12:12 AM   #5
IB M
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2013 BMW M3  [10.00]
In for 1M and E46 pics.
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      05-27-2020, 11:11 PM   #6
Djenvzn
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Is this still available?
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      05-28-2020, 04:51 PM   #7
CRtoE92
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Quote:
Originally Posted by evoiii90 View Post
I think it's $025 per mile, but at lease end if you need more miles you can buy them at a discount with BMW's Extra Mileage Purchase Policy, which I think it's $0.22.

Quote:
Originally Posted by 18340i View Post
how much is the mileage penalty? (0.25/mile or more?)
All M cars are 0.30/mile for penalty, obviously you can get 20% off if you purchase prior to lease end
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      06-04-2020, 04:43 PM   #8
jsalazarM3
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Available?
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      06-04-2020, 08:44 PM   #9
evoiii90
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Lease transfer just started Stage 3 with BMW FS, so it's 99% gone... Once transfer is complete, I'll mark it as Sold here.
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2011 Valencia Orange 1M
2003 E46 M3 (daily driver)
2011 E92 M3 track car (fun)

Sold: 1990 Euro Brilliant Rot Sport Evolution E30 M3
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