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      04-27-2016, 08:39 PM   #1
BiscottiGelato
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Drives: 09 135i M Sport 6MT
Join Date: Nov 2006
Location: GVA

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BMWFS does not allow a 2nd transfer over life of lease???

This is seriously crazy and ridiculous. I assumed a lease last December because my 135i totalled due to some other idiot's fault. Payout from insurance was great, but getting a new vehicle have been a nightmare getting worse.

So after 2 months of not having a vehicle amidst situation in life in major flux, I decided that the safe way to play it is to pick-up a lease with as few months remaining as possible. This turned out to be a 328i xDrive, Imperial Blue on Red, with 18 months left at the time. I was thinking to myself that this avoids the problem of losing out big time on tax if I buy a used vehicle and then resell it later. I can always just pay the transfer fees and get someone else to assume the lease if I decide that I don't want the vehicle no more.

So personal circumstances changed some more over the last 4 months and I am to leave the country. Getting rid of my rental apartment was easy. So I looked onto listing my vehicle on LeaseBusters.com, but was advised that I might have problems because BMWFS have policy against a 2nd transfer of a lease. LeaseBusters told me to contact BMW and get written pre-approval from them before wasting my money listing the vehicle on LeaseBusters.

A few calls to BMWFS was completely unhelpful. The representative was like an automated answering machine, repeating the following points:
- Yes, there is policy against a 2nd lease transfer
- Under exceptional circumstances, a 2nd lease transfer maybe permitted
- There is no way to do anything without a dealer to initiate a transfer process, and then only at that point can it be determined whether a 2nd lease transfer will be allowed.

I was advised to talk to a dealer instead. So I did. And the dealer was just as unhelpful.
- From his experience, leaving the country have never been a sufficient reason for BMWFS to approve a 2nd lease transfer.
- There is nothing more they can do. I can go ahead and try to start a lease transfer process anyways, but likelihood is it won't be approved.

This policy makes absolutely no sense. As the potential alternative for me here is to stop lease payment and let them bad credit me, since I might not come back to Canada anyways. This would be a lose-lose situation for both me and BMWFS.

I also looked over the documents I have signed, and at least on those papers directly, none of them said that a 2nd lease transfer is explicitly prohibited. I was not verbally advised of this either when I signed the papers initially during the first lease transfer. In fact I just did a quick Google search and I cannot find anything anywhere saying that a 2nd lease transfer is not allowed.

Anybody with experience on this? This is ludicrous and makes no sense. Please help. Thanks!
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