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      03-18-2021, 10:51 AM   #1
Mr Friese
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Private party buying out lease?

Hey everyone, I currently have my car up for lease transfer and I have someone who would like to buy it out instead. Does anyone know if that's possible without me buying it out first? I really have no interest in fronting 72k, so I'm just curious if there is another way.
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      03-18-2021, 10:59 AM   #2
dms-01
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Quote:
Originally Posted by Mr Friese View Post
Hey everyone, I currently have my car up for lease transfer and I have someone who would like to buy it out instead. Does anyone know if that's possible without me buying it out first? I really have no interest in fronting 72k, so I'm just curious if there is another way.
AFAIK yeah its possible, they would need to write a check for the payoff amount and when you receive the lien release from BMWNA sign that and the title over to them. Its basically the same as you buying it out but the check(payoff) simply comes from them.
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      03-20-2021, 10:36 PM   #3
TheBingoBalls
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If it's a lease, any dealership should be able to facilitate the 3rd party buyout.
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      03-21-2021, 04:18 AM   #4
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Check the laws in your state. In California, you don't need a dealer to facilitate the buyout. If the buyer pays BMW Financial Svcs the full payoff, BMW will send title to you and you can then sign the title over to the buyer. If you transfer the car to the new buyer in 10 days, only the new buyer has to pay the sales tax on the transfer.

Since you're in Baltimore, you should check to see what the laws are in Maryland.
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