10-26-2017, 02:23 PM | #1 |
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Lease Assumption / Transfer Process California
I've decided to document my experience here in hopes that others see this on the vast internets.
I've decided to assume a lease from someone else here in California in hopes to make the process smooth and easy. BMW has a reputation for being the easiest to do a lease transfer - but I have had the opposite experience. They say to give up to 3 weeks for the process to be complete, so in essence I'm still within my allotted time frame - however everywhere that I've read online, peoples experiences are as quick as 3 days as long as you are fast, efficient and great at filling things out. Day 1 - I looked at car. Decided I wanted it. Owner let BMW know he was releasing the car. I got an e-mail with a link to a credit app. Filled out app and was approved next business day in the AM. Paid $500 + CA Tax. Day 2 - Both myself and owner had to fill out paperwork. We both decided to overnight the paperwork (to Ohio) to try and speed up the process. Also e-mailed the assumptions dept. with attached scans of the paperwork. Got responses that it was filled out correctly and they will notify us when hard copies were received. Day 3 (Friday) - Hard copies received. E-mailed and let me know "sorry but we will not be able to process this today. Day 4 (Monday) - Received e-mail - "Sorry, there is another huge delay. We have to now request a paper title from the DMV, which according to them is 7-10 business days, if not longer due to a back log". We're up to Day 6 now with no word back. I called and the title isn't there yet. Here is what sucks - they could have requested a "rush title" service, which the $500 should have covered (and if not, would have gladly paid for it if asked, but wasn't). I found this out after calling the DMV after a few hours on hold. So - be warned. Uncertain if this is just a California thing, but BMW FS does not hold paper copies of titles, just have an electronic lien. This slows down the process quite a bit. While we're still well within the allotted 3 weeks, I'm just bitching and moaning because I figured we'd get the same "3 day turnaround" that most others had online. Will keep this thread up to date for those interested. |
10-30-2017, 08:38 PM | #2 |
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I am doing the lease transfer now. The transferee has already overnighted the mail today and i am doing to do it tomorrow (have to collect my MSD today).
BMWFS told me it could take up to 30 days for them to get the actual title but also mentioned California is a electronic title state. So i am not sure exact how long would it take to complete the transfer. Hopefully soon that i wont need to pay another payment. Keep me updated. Also anybody has any experience transferring/taking over lease in california? Please share your time line with us |
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10-30-2017, 09:42 PM | #3 | |
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Some states are electronic title, so the process is quicker. I'm still waiting... called BMW FS today and still "no title". Still miffed they didn't opt for the "rush title" option. Good luck with your xfer. I'm driving a rental waiting for the assumption to complete. |
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10-30-2017, 10:11 PM | #5 |
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Damn, that sucks.
When I did a lease transfer of my M4 back in 2015 it only took 11 days/9 business days; started the lease assumption on 05/04/2015 and was completed on 05/15/2015. Such a smooth and quick transaction. I'm in San Diego and the transferee was located in LA.
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10-30-2017, 10:12 PM | #6 | |
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Do you recall during the process them alerting you that they had to request the paper title? |
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10-30-2017, 10:22 PM | #7 | |
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Here are the emails from BMW, although they don't help much. Lol. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- 05/06/2015 Assumption Stage 2 Documents Received Dear Dut: 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. Once we receive the lease assumption documents from both parties, we will communicate this to you via email. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- 05/11/2015 Assumption Stage 2 Complete Dear Dut: 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. This will be completed within five (5) business days and an email will be sent to you when these documents have been placed in the mail via United States Postal Service. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- 05/15/2015 Assumption Complete Dear Dut: We are pleased to inform you the lease assumption is complete and a confirmation letter for your records has been sent to you via United States Postal Service. This email confirms that you are authorized to give the vehicle to Blah Blah.
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10-30-2017, 10:27 PM | #9 |
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When we started the lease assumption, I do recall I was informed the process may take up to 3 weeks.
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11-01-2017, 11:59 AM | #10 |
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Day 9 now (business days) - (14 days counting every day). No title yet at BMW. Called to check status - every time I call it's a new experience, now being told the title wasn't requested until the 23rd, and it can "take up to 30 days for a title to show up".
Man this experience sucks. Last edited by narkotic; 11-05-2017 at 12:51 PM.. |
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11-01-2017, 06:30 PM | #11 | |
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My title was requested the day they approved the application (stage 1) |
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11-07-2017, 11:52 AM | #14 |
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OK - I called in Monday to check status as I hadn't heard anything. I was told the same story - the title hasn't shown up yet and to expect a 30 day turnaround process from start to finish. Interesting as I was originally told max 3 weeks. No one seems to have their story straight on the process.
I reminded her that we were past our "10 business day" wait time for the Title, and she put me on hold to talk to someone. After several minutes, she said "OK - we got your title and are currently processing it". Asked for clarification and she said this part will eventually wrap up "Phase 2" which takes care of re-registering the car, when they will eventually then send out a packet of paperwork that concludes the process which she said may not show up until Saturday or Monday. Most of this could have been avoided if they simply requested a rush title option, something I would imagine should be included in the $500 transfer fee, but at the very least should be presented as a "option" to the transferee. So - we're at Business day 13 and Calendar day 20 and no car yet. Hoping someone finds this thread useful in case they are interested in a transfer. |
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11-09-2017, 04:49 PM | #16 |
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Received a call from a manager at BMW FS. Nicer person, apologizing for the delay, and that all he could do was change from "FedEx 2 Day" to "Fedex Next Day" for the phase 3 documents so that I could get my car this week. Said I'd get a follow-up email with what we discussed.
No email next day. Called the following day and was told "we just got the title to our department and are processing it now, and that once it's ready they will send phase 3 docs over via overnight". I felt a disconnect, again, so I asked to speak to the guy that called me (Cole). The guy said he'd escalate. Then took me off hold, asked "why do I want to escalate". Answered - because there is another disconnect from what Cole told me. A guy gets on the phone, he was not pleasant at all. Robotic, careless, and said he could make no promises that Cole would call me back. How nice. Guy hates his job. So I'm basically in the blind again until today, Day 15. I get an e-mail out of the blue from BMW FS (thinking, yay, it's finally done) but no, it's a FedEX overnight label with nothing else. They call and say "yeah, we had the guys name wrong in our system and it didn't match what was on the title, so as a convenience (LOL) we're sending you a courtesy (LOL) overnight label to get new docs off to us, which both you and the owner need to do. Begin the twilight zone music.... |
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11-10-2017, 09:01 AM | #17 |
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And Today - I get an e-mail from them as if we are starting the entire process over, full documents, letter requesting fill out and send in, etc.
I wish I had a contact of someone in management there. BMW FS is frustrating to say the least. |
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11-10-2017, 11:01 AM | #18 |
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Btw, doc 3 is useless. They will email you when process finish and vehicle can be switch to another person WITHOUT receive the doc 3.
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11-11-2017, 12:46 PM | #19 | |
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Unfortunately we're stuck in "Phase 2" because BMW FS made a clerical error on the persons name. The onus was on us to re-send in documentation. Unbelievable. No e-sign capabilities, have to sign actual papers and mail them in. In 2017. |
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11-11-2017, 09:30 PM | #20 |
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I just did a lease assumption to new buyer 3 months ago,
Took nearly 3 weeks exactly and that's with both parties overnighting docs. The wait for DMV to send title was painful. Unfortunately you're at DMV CA's mercy lol. |
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11-11-2017, 09:56 PM | #21 |
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I think I would have been done @ 3 weeks for me if it weren't for their screw-up on the paperwork
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11-13-2017, 05:26 PM | #22 |
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