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      05-11-2015, 02:15 AM   #1
beefbowl
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Getting approved for lease transfer/ assumption

I have not been able to find a clear answer on this matter. While maybe the answer is purely common sense, when assuming a lease, does BMW Financial approve the assumption based on what is left in the lease? For example, say the MSRP is 115k, 23mo left to go at 1200 = approximately $27,600 you will be required to pay over X amount of months. Or does the actual MSRP come into play when deciding whether or not your income/credit score etc meets BMW’s requirements. Or maybe none of the above..

So are you essentially getting qualified for, in my example 27k, or am I way off base here?

I’ve heard some say you must make more per year than to MSRP to qualify regardless of what amount your “borrowing,” others state you must make more than the original lessee regardless …

And has anyone had any experience applying through their application online, can you go to a BMW center and apply in person for transfers?

If anyone can shed some light on this it would be much appreciated.
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      05-11-2015, 10:03 AM   #2
smithf80
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Just put in the application. The decision usually comes back in less time then it will take for you to get a reply to this post.

It would make sense that you would only need to be approved for the actual line of credit for the amount you would owe.
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