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      02-15-2015, 09:20 PM   #1
Buhd
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Arrow Looking for a Lease Takeover - M6 or M6 Gran Coupe

Hello All,

I just joined this forum and I'm looking for an M6 or M6 GC (preferably GC).

I really want a San Marino Blue M6 GC - extremely rare it seems.

Anyway, I have never done a 'lease takeover' or 'lease transfer' before.

Can anyone shed some light on whether taking over someone else's lease is safe and/or advisable?

Does anyone here have experience with Swapalease and/or Lease Trader?

Swapalease seems to want a paid membership ($60) just to contact the seller(?).

Does anyone know of a San Marino Blue M6 (or M6 GC) available for a lease transfer?

Thanks in advance.
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      02-15-2015, 09:23 PM   #2
M6-Coupe
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Talk to this guy:
http://www.6post.com/forums/showthread.php?t=1086206
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      02-15-2015, 09:54 PM   #3
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That's cheap compared to lease trader. Which is 250 I believe.

Other charges involved- 500 credit run/transfer fee.

It's also harder to get approved for a take over than a new vehicle. You can't be more of a liability than the current owner (credit/income) otherwise they'll deny the app.

Cheapest method (monthly) is going through an auto broker (best buy auto group for example) and having them find you a vehicle through BMW. They get referral fees so you pay nothing.

Just my 2 cents (I assumed my m6 but the previous owner told me a lot of people tried to take over it before me- but because he was a neurosurgeon taking home upwards of 900k a year, the regular tier 1 applicant would get denied with it)
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      02-15-2015, 11:30 PM   #4
aj1985
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I took over my m6 coupe using swapalease.com and i will always use that avenue in the future if theres a car available i like. Very smooth transaction. It took 2 weeks to push the paperwork back and forth so that was an anxious period but well worth it.

The great thing about these lease transfers are that theres usually no, or little down payment and in most cases the seller will give u money to take over the lease. Also the lease term will be shorter since the previous owner used up some of the months. Just have to make sure youre comfortable with the mileage allowance thats left. Can be higher or lower than the 1000 monthly allowance given in the lease.

The transfer was done through bmw financial and they really seemed only interested in the credit score. As long as it was above 700 and there werent any items of concern on there then you should be good. On the application it asked about income but they dont ask for supporting documents. Also i had a previous m6 that had a payment of over 1000 a month, so it showed that i had a history of paying a high payment which might have helped too.

Good luck
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      02-16-2015, 01:53 AM   #5
Buhd
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Quote:
Originally Posted by aj1985 View Post
I took over my m6 coupe using swapalease.com and i will always use that avenue in the future if theres a car available i like. Very smooth transaction. It took 2 weeks to push the paperwork back and forth so that was an anxious period but well worth it.

The great thing about these lease transfers are that theres usually no, or little down payment and in most cases the seller will give u money to take over the lease. Also the lease term will be shorter since the previous owner used up some of the months. Just have to make sure youre comfortable with the mileage allowance thats left. Can be higher or lower than the 1000 monthly allowance given in the lease.

The transfer was done through bmw financial and they really seemed only interested in the credit score. As long as it was above 700 and there werent any items of concern on there then you should be good. On the application it asked about income but they dont ask for supporting documents. Also i had a previous m6 that had a payment of over 1000 a month, so it showed that i had a history of paying a high payment which might have helped too.

Good luck
This is great information!

Thanks a lot for that.

I will do some research on finding the right car on Swapalease and go from there!

Is the $60 fee a one-time thing or is it monthly for Swapalease.com?
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      02-16-2015, 10:39 AM   #6
aj1985
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Pretty sure the 60 dollars is a one time membership fee
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