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      04-05-2008, 05:36 PM   #1
yahtzee
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leasetrader.com vs. handling on your own

I have someone that is interested in assuming my 535i lease. I am trying to determine which route is quicker to get this done and if leasetrader.com is really needed in this situation. The person is giving me 2K out of pocket so naturally I would want that in hand to assume she isnt going to back out of the deal. After about 3 weeks (that is how long BMW financial said it would take if we did it on our own but also how long it is supposed to take through leasetrader.com).

Any suggestions?
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      04-06-2008, 06:10 PM   #2
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anyone? does a contract need to be put into place for that three week waiting period or is 1/2 of the 2k good enough?
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      04-06-2008, 07:49 PM   #3
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Im in a similar situation. I placed an order for the M3 after being in the waiting list for about 6 months, but I have a lease that I would like to get rid of. Anybody have any experience with the lease trader process in addition to yahtzee's question? (or any other ideas of how to best get rid of a lease for that matter?)
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      04-06-2008, 08:18 PM   #4
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My intentions tomorrow are to get BMWFS on the phone with the interested buyer (or lease assumer) and hash out the details. I will then go to my dealer and ask him to give me a firm 3 week number on my trade just in case the lease assumption doesnt go through.
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      04-06-2008, 09:04 PM   #5
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I've used lease trader. The only advantage is having your car out there for people to look at. After you initiate a deal, they tell you to contact your leasing company to consummate the deal. If you have a buyer and are using BMWFS, it should go smoothly and you don't need leasetrader.

BMWFS will ask you to pay a fee for transferring and they will need to qualify. Who pays this fee is up to you and the other person to negotiate - I ended up paying it to make the deal go through.
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      04-06-2008, 09:10 PM   #6
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If you already have some to assume the lease, then you have no need or use for leasetrader/swapalease.

Those sites only find people to assume your lease (or let you assume someone else's lease).

After that, all of the paperwork and lease transfer is handing by the bank or financial entity that owns the lease.
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