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      11-13-2017, 05:43 PM   #23
narkotic
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Alright. Losing track of which day it is.

Owner and I got new docs off to BMW FS. Called today to check status since they don't call us to give us a status.

Say - Oh yeah, we just got your docs. But we're on hold because the car now is owed a car payment by the owner.

??

Call the owner and he is current on payments and it's not due until the 16th.

This is super weird.
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      11-14-2017, 08:13 PM   #24
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Owner called BMW FS - they said "everything looks fine, we're now moving to Phase 3 - please allow 3-5 business days for processing".

Weird.
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      11-15-2017, 11:42 PM   #25
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Today got a random call from BMW FS - saying "we are returning your call, please call us and anyone can assist you, thanks".

I never called.. figured it was some sort of survey thing.

Called back, and the system recognized my social - so I thought, wow interesting - things seem to be progressing.

Person picked up - and said, yes, your car is ready and the assumption was completed last night. I said - was anyone going to call me? They said "You should have received an e-mail". The owner nor I received anything... Luckily I called!

Picked up the car today. Finally! Best of luck to anyone else that goes through this.

Oh - and the Phase 3 paperwork includes the DMV stuff so now I need to go spend time at that horrible place to wrap it up - and uncertain if there will be any more fees and/or taxes owed.

Hope anyone doing a lease assumption reads this thread so they know what they may be getting into and that it helps.
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      11-16-2017, 02:00 AM   #26
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Quote:
Originally Posted by narkotic View Post
Today got a random call from BMW FS - saying "we are returning your call, please call us and anyone can assist you, thanks".

I never called.. figured it was some sort of survey thing.

Called back, and the system recognized my social - so I thought, wow interesting - things seem to be progressing.

Person picked up - and said, yes, your car is ready and the assumption was completed last night. I said - was anyone going to call me? They said "You should have received an e-mail". The owner nor I received anything... Luckily I called!

Picked up the car today. Finally! Best of luck to anyone else that goes through this.

Oh - and the Phase 3 paperwork includes the DMV stuff so now I need to go spend time at that horrible place to wrap it up - and uncertain if there will be any more fees and/or taxes owed.

Hope anyone doing a lease assumption reads this thread so they know what they may be getting into and that it helps.

So the DMV processes are only applicable to the party taking over the lease.
The party transferring the car over has no business at the DMV. Can you confirm this?
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      11-16-2017, 09:12 AM   #27
narkotic
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Quote:
Originally Posted by 818M3 View Post
So the DMV processes are only applicable to the party taking over the lease.
The party transferring the car over has no business at the DMV. Can you confirm this?
Confirmed - the onus is on the transferee (new owner). Honestly surprised this is not included in the $550 assumption fee... they basically send blank forms, partially filled out - as well as a BMW power of attorney so that I can sign on their behalf at the local DMV shop.
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      11-16-2017, 10:23 AM   #28
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Quote:
Originally Posted by narkotic View Post
Confirmed - the onus is on the transferee (new owner). Honestly surprised this is not included in the $550 assumption fee... they basically send blank forms, partially filled out - as well as a BMW power of attorney so that I can sign on their behalf at the local DMV shop.
Thanks.
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      11-16-2017, 12:48 PM   #29
narkotic
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I was sent a random BMW customer satisfaction survey - must be an automated thing after calling X amount of times (Probably up to 15 for this process) - to which I was very transparent with the whole process and how I felt I didn't get what I paid for.

Surprisingly, received a call this morning in response to this survey - to which they were robotically apologetic, they could not offer any sort of refund, discount or compensation for all of the mishaps. They are more interested in the money than the reputation.

They even went as far to say "If you reverse the charges on your credit card, the fees will simply be tacked onto your monthly billing cycle". Ballsy.

Caveat Emptor...
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      11-16-2017, 04:47 PM   #30
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OK - Went to DMV via AAA, they were confused on the process since it happens maybe once a year, but the process to change the registration over cost $23.
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      11-20-2017, 10:54 PM   #31
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A rough process you went through man. Glad you finally got the car. Thank you for sharing your progress and the hiccups along the way.

I just finished stage 2 via confirmed with email sent by BMW FS. I'm just waiting on Stage 3 docs now.
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      11-30-2017, 11:24 AM   #32
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I guess I was lucky. in 2015 I assumed a lease and it took less than 2 weeks. not a single hitch or delay. Went faster than I anticipated.

we were both in CA. AAA handled the dmv paper work.
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      12-10-2017, 12:58 PM   #33
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Also - for those not in the know, if you perform a lease transfer, for some reason BMW
no longer transfers the maintenance program over. I don't understand this, as it was paid for as part of the original deal. Kind of crappy if you are assuming a lease with 1 or more years left on it, as it will need oil changes and such.
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      12-11-2017, 11:24 PM   #34
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so we gonna see the car or what
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      05-03-2018, 10:31 AM   #35
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narkotic & Fast4d ...

I just received my Stage 3 documentation from BMWFS. I'm located in LA and just wanted to confirm with either one or both of you... all of the remaining steps -- registration, transfer of liability, title stuff -- can all be taken care of at a local AAA office? I would love to be able to avoid having to go to a CA DMV office.

Thanks
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      05-28-2018, 10:59 PM   #36
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yes I did mine at the AAA office.
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      06-23-2020, 10:18 AM   #37
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assumption during corona (california)

Here is how the process is going for me.

June 4, 2020: Credit Decision, approved
June 4, 2020: Paperwork emailed from BMW
June 4, 2020: Overnight mailed to Ohio with the transferor.
_____________

June 9, 2020: We would like to inform you that one set of lease assumption documents has been received. We will perform a quality check on this set of documents and contact the appropriate party if anything is missing.

_______________________________

June 17, 2020: We are pleased to inform you that both sets of lease assumption documents have been received. Both sets of documents are accurate and complete. We will begin preparing the final set of documentation.
_________________________________

June 23, 2020: Still waiting for final stage 3 email. its been 4 business days.
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      06-23-2020, 07:34 PM   #38
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Quote:
Originally Posted by antdizzle View Post
A rough process you went through man. Glad you finally got the car. Thank you for sharing your progress and the hiccups along the way.

I just finished stage 2 via confirmed with email sent by BMW FS. I'm just waiting on Stage 3 docs now.
how long did it take for stage 3 to be completed?
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      07-11-2020, 10:50 PM   #39
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Just assumed my friend's M3 CS lease here in California:

June 22 - Credit check / approved

June 23 - Stage 2 documentation received from BMW

June 29 - BMW received Stage 2 documentation from both parties

July 8 - Stage 2 complete, waiting on stage 3 documentation

July 14 - Stage 3 completion email received

*** Took approximately 14 BUSINESS days ***

P.S: If anyone is looking to assume a white 2018 M3 CS, let me know. Lol.
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Last edited by dut; 07-14-2020 at 04:56 PM..
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      07-14-2020, 05:38 PM   #40
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Dut! shoot me the details bro.

Quote:
Originally Posted by dut View Post
Just assumed my friend's M3 CS lease here in California:

June 22 - Credit check / approved

June 23 - Stage 2 documentation received from BMW

June 29 - BMW received Stage 2 documentation from both parties

July 8 - Stage 2 complete, waiting on stage 3 documentation

July 14 - Stage 3 completion email received

*** Took approximately 14 BUSINESS days ***

P.S: If anyone is looking to assume a white 2018 M3 CS, let me know. Lol.
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