BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > Regional Forums > Canada
 
GTB Performance
Post Reply
 
Thread Tools Search this Thread
      08-23-2012, 10:02 AM   #1
Gjm127
Lieutenant
Gjm127's Avatar
United_States
9
Rep
505
Posts

 
Drives: BMW 435i xDrive M-Sport
Join Date: Nov 2011
Location: Montreal, QC

iTrader: (0)

Garage List
Lease take-over from USA

Hey guys, here's a tricky one:

The current lease on my 328xi coupe ends this November.
I want to drive an E92 M3 until the F82 comes out in 2015. That means for 2 years or so.
Leasing is my best and only option...

Since leasing a new M3 here in Canada is overly expensive (let alone a 2-year lease) and I can't find any lease take-over options in Canada, I was wondering if I could take-over an American lease. I have the American citizenship but I am living in Canada.

Is that possible? What's the catch?

Here's one of the take-over options from the US: http://www.swapalease.com/lease/deta...x?salid=750426
Appreciate 0
      08-23-2012, 01:05 PM   #2
crunchy_frog
Private
crunchy_frog's Avatar
Canada
2
Rep
90
Posts

 
Drives: 2008 E92 M3
Join Date: Apr 2012
Location: Toronto

iTrader: (0)

So... you want to lease the car in one country and drive it for 2 years in another country, right?

how were you planning to handle auto insurance for the car? which address were you planning to give the insurance company (us or canada)?

when you take over the lease what address were you planing to give the leasing company? which bank account were you planning to use.

when you drive across the border with this car the first time, when the border agent asks "anything to declare? purpose of the trip?" what answer are you planning to give?

i think if you answer these questions, the answer will become clearer to you.
Appreciate 0
      08-23-2012, 01:30 PM   #3
bobblehead
Brigadier General
bobblehead's Avatar
Canada
50
Rep
3,763
Posts

 
Drives: warp speed
Join Date: Aug 2009
Location: Toronto, On

iTrader: (0)

^ that's so true.

The very first call you should make is to ask your insurance company, if you can't even be insured with that car in Canada, you can simply write off the idea.
Appreciate 0
      08-24-2012, 02:01 PM   #4
goldminer
Lieutenant
Canada
7
Rep
453
Posts

 
Drives: 2011 SG E92 M3, 6MT
Join Date: Feb 2006
Location: Toronto, Ontario, Canada

iTrader: (0)

There are ways to import a new car into Canada from the US but it is not always easy (depending on make and model). In order to title it up here you will need to have certain work done on it to make it meet Transport Canada regulations. Your leasing company, which owns the car, may not allow it. If they do allow it, they may demand that you return the car to US spec when the lease is up.

Also, you won't get it titled until the taxes on it are paid (HST, import duties, etc.). I don't think the leasing company will pony up for that.

In order to have the warranty honored up here you may need to have that work done at a BMW dealer. That may not be cheap and the leasing comapny may demand it to protect their investment.

Will the leasing company even allow the car out of the country? That may depend on how difficult they think a repo might be from Canada.

I'm not so sure this sounds like a good idea.
Appreciate 0
      08-24-2012, 05:23 PM   #5
Gjm127
Lieutenant
Gjm127's Avatar
United_States
9
Rep
505
Posts

 
Drives: BMW 435i xDrive M-Sport
Join Date: Nov 2011
Location: Montreal, QC

iTrader: (0)

Garage List
I see things are much clearer now! Thanks for the advice guys
Appreciate 0
      08-24-2012, 06:16 PM   #6
py0413
Major
py0413's Avatar
Canada
19
Rep
1,178
Posts

 
Drives: 2012 M5
Join Date: Jul 2008
Location: BC

iTrader: (2)

I am pretty sure it's not do-able on a lease. Why not buy a pre-owned and use it for the time you want in such case, you won't suffer too much from new car depreciation problem.
__________________
Must stop eating..............
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 03:16 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST