[hyperspeed]

What would need to happen if I wanted to sell my lease to a buddy of mine at the end of my lease agreement?

Would my friend just deal with BMWFS directly? Or do they pay me, and I buy the car from BMWFS and then turn it around and sell it to them? And if that's the case, would there be double sales tax? I would think it wouldn't be that difficult to accomplish, but can't find much details on it.

I'm hoping it can be relatively easy, and BMWFS can directly issue the title to my friend and he can just pay the residual value left on my car instead of some dealer markup after it gets taken back.

TIA!

[rmizzle101]

Pretty sure they would purchase from BMW since you do not own the title.

[hyperspeed]

Any other advice?

[gregthegr8]

There's no double tax in CA if you sell it within 10 days, and BMW won't sell it directly to him. When you send in the buyout amount, which can be a cashier's check from his bank, you can elect to not pay the sales tax in CA, and then you transfer title to him and he pays the tax when he registers it. I don't think BMW will send the title in someone else's name than whoever is on the account.

If you still have 6 more months on the lease though, they can also assume your lease on approved credit if that helps your situation.

[BEM-S4]

The easiest thing to do for all involved, if your dealer will work with you, is have them buy the car out and sell to friend. Can do anytime for payout or at end for your residual. They may even be able to get the car bought for less if it's within 120 days of end of lease.

[hyperspeed]

Originally Posted by gregthegr8

There's no double tax in CA if you sell it within 10 days, and BMW won't sell it directly to him. When you send in the buyout amount, which can be a cashier's check from his bank, you can elect to not pay the sales tax in CA, and then you transfer title to him and he pays the tax when he registers it. I don't think BMW will send the title in someone else's name than whoever is on the account.

If you still have 6 more months on the lease though, they can also assume your lease on approved credit if that helps your situation.

perfect. this is exactly what i was looking for thanks!!

[xlover]

Originally Posted by hyperspeed

perfect. this is exactly what i was looking for thanks!!

Dealer can actually cpo the car for your friend as well if you negotiate that in