BimmerFest BMW Forum banner

1 - 20 of 20 Posts

·
Registered
Joined
·
82 Posts
Discussion Starter #1
I am traveling to Munich in the near future for business. A colleague of mine is about to renew their BMW lease and I was wondering if there would be a way for me to pick up the car for him in his name, so he can take advantage of the ED discount and so I can have a BMW to drive around in while in Europe. If this is possible, what do I need to do to make it happen?
 

·
Freude am Fahren
Joined
·
19,692 Posts
I am traveling to Munich in the near future for business. A colleague of mine is about to renew their BMW lease and I was wondering if there would be a way for me to pick up the car for him in his name, so he can take advantage of the ED discount and so I can have a BMW to drive around in while in Europe. If this is possible, what do I need to do to make it happen?
Not possible unless you buy the car and then sell it to the friend.
 

·
Registered
Joined
·
4,072 Posts
Or have your friend include you as an owner on the car.
 

·
Freude am Fahren
Joined
·
19,692 Posts
I'll just quote the exact response from BMW NA from the other thread that The Other Tom quoted

The vehicle has to be registered in the U.S. to the person that picked it up in Germany
 

·
Registered
Joined
·
82 Posts
Discussion Starter #6
what about on a lease? can i lease the vehicle and then immediately transfer it to my colleague once back in the US?
 

·
Freude am Fahren
Joined
·
19,692 Posts
what about on a lease? can i lease the vehicle and then immediately transfer it to my colleague once back in the US?
Quite possibly but you need to look into the sales tax liability as it exists in your state, I would think.
 

·
Registered
Joined
·
8,180 Posts

·
Freude am Fahren
Joined
·
19,692 Posts
I suppose the OP could do a standard lease transfer but it would not be immediate since, as BMW NA already told us, the car has to be registered in the same name as the person taking delivery at the Welt.
 

·
Registered
Joined
·
2,384 Posts
why do you say no?

He can originate the lease in his name, pick up the car, then immediately transfer the lease to his friend once he returns stateside.

When I say immediately, of course it will take a little time for BMW to process the transfer, but isn't it just a week or two process with relatively simple paperwork?
 

·
Using SPF 45
Joined
·
3,669 Posts
How about doing this instead:

Do a "boys weekend" in Munich. Go over a couple days early with him for a long weekend. Pick up the car with him. Do the drop-off paperwork. You turn in the car at the end of your stay, after he's flown home (obviously he trusts you enough to do this). Win-win, without all the lease transfer shenanigans. Keep in mind that ED really is meant for people who want delivery in europe, not someone who's just looking to arbitrage the price difference between US and europe delivery.
 

·
Registered
Joined
·
8,180 Posts
When I say immediately, of course it will take a little time for BMW to process the transfer, but isn't it just a week or two process with relatively simple paperwork?
Because BMWFS won't do it until they have the title. This can take months from lease inception for the DMV to get it to them. If you call them, they will say they can't do a transfer within the first 6 months, due to this reason. But if they get it earlier, they can do it. This is based on personal experience last year.

Remember - title processing isn't started until you pick up the car from the dealer in the US.
 

·
Registered
Joined
·
6,033 Posts
The idea is great but the logistics and legal liability is high for both of you in the event of a serious accident while on ED.
Cheaper to buy a rail pass or rent a car on your trip.
 

·
Registered
Joined
·
2,384 Posts
Because BMWFS won't do it until they have the title. This can take months from lease inception for the DMV to get it to them. If you call them, they will say they can't do a transfer within the first 6 months, due to this reason. But if they get it earlier, they can do it. This is based on personal experience last year.

Remember - title processing isn't started until you pick up the car from the dealer in the US.
You're telling me it takes MONTHS in your home state to get a title issued to the lessor? We have 2-3 day turn around in Michigan, and it is done electronically.

That seems bizarre, what happens if the vehicle is stolen, totalled etc. in the first six months, and the lessor doesn't even have a title?!
 

·
Registered
Joined
·
2,384 Posts
The idea is great but the logistics and legal liability is high for both of you in the event of a serious accident while on ED.
Cheaper to buy a rail pass or rent a car on your trip.
the legal liability is zero as long as he is named as an additional insured.

You don't have to be on title to the vehicle in order to have insurance coverage, the last lease I did was in my wife's name only (I had no ownership interest in the vehicle) yet I was obviously an insured under the Allianz policy.
 

·
Freude am Fahren
Joined
·
19,692 Posts
The idea is great but the logistics and legal liability is high for both of you in the event of a serious accident while on ED.
.
Not really - all parties involved would be covered by the Allianz insurance.

FYI, I am not endorsing the idea of a lease swap here but it probably does happen from time to time so I am being realistic.
 

·
Registered
Joined
·
8,180 Posts
You're telling me it takes MONTHS in your home state to get a title issued to the lessor? We have 2-3 day turn around in Michigan, and it is done electronically.

That seems bizarre, what happens if the vehicle is stolen, totalled etc. in the first six months, and the lessor doesn't even have a title?!
No, I'm telling you that is what BMWFS told me in mid-2008. You can call them if you like, though I have heard others iterating the same information.

I should clarify that they wait for the electronic version, not the paper version. It also sounded strange to me, but I didn't pursue it further at the time, since they already had the title in hand for my car. Another reason may be they want to leave things for a month or two in case there is an issue concerning the titling of the car. For example, the dealer made a mistake on the registration of my car. This may be problematic to fix if they had already transferred the lease to someone else. I'm just speculating here.

Bottom line is - if BMWFS is not comfortable with some aspect of the transfer, no matter what, there is no obligation on them to allow the transfer. So they may have internal guidelines that minimizes their risks and work, that may not mimic logic. For example, the inability to transfer a lease in the final 6 months of its term. This is a BMWFS dictated rule, rather than one mandated by any regulatory authority.
 

·
Registered
Joined
·
369 Posts
Well I kind of did this with my ED. I went over to Munich in June to pick up my car. All the Euro Delivery docs were in my name however all the finacing docs were in my dads name. I did this so I could have a lower insurance rate by being added to the insurance on the car while not being the registered owner of the car! I used Irv and he said that was fine so I would ask someone like Irv Robinson the king of ED's I'm sure he can answer this question for you !
 

·
Registered
Joined
·
82 Posts
Discussion Starter #20
Well I kind of did this with my ED. I went over to Munich in June to pick up my car. All the Euro Delivery docs were in my name however all the finacing docs were in my dads name. I did this so I could have a lower insurance rate by being added to the insurance on the car while not being the registered owner of the car! I used Irv and he said that was fine so I would ask someone like Irv Robinson the king of ED's I'm sure he can answer this question for you !
This sounds perfect. I will look into doing this as well. As you did, I'll see if I can put my colleague on all the financing docs and put all the Euro Delivery docs in my name. Thanks for letting me know about this option.
 
1 - 20 of 20 Posts
Top