Lease Transfer Questions - Down Payment Collection

[trendy26]

For those of you who have completed Lease Transfers in the past, and collected a down payment - At what part of the process did you collect the down payment? I am in Stage 2 of the Lease Transfer, and not comfortable signing the papers until I collect the down payment, as once BMW confirms all information, and puts it into Stage 3, the Lease Assumption is pretty much complete.

The transferee wants to hand the down payment over at the time of delivery of the car, of which I am not comfortable with, so kind of a stand still now and not sure how to proceed. Sure, we can write something up, but then that person can go tell me to "F" myself, not pay and be legally entitled to the car. At which time my only recourse would be legal action which is not worth the time and/or money in this case.

Any insight is greatly appreciated.

Thanks

[Ex_Stig]

It sounds like both you and the new owner are trying to make sure that no one gets taken advantage of. In my opinion, both of you are right to be concerned.

If I were you, I would check into some type of escrow account to put the money in to until the transaction is completed. That way both of you have your interests protected.

[Frozen]

Just do it at the time of delivery. That's what we all have done here with our lease transfers. Stop overthinking it. If you don't trust the guy who you are transferring the car to then don't do the deal at all.

[AIRHEIR]

I did it at time of delivery of car. It was substantial amount(7 msds).

I was the one getting the car if that helps.