Lease Assumption and Registration Question

jwzimm · 02-22-2017, 03:09 PM

Hey all,

I have listed my car for lease assumption to a new lucky owner. The one part of the process that I am fuzzy on is how to handle the registration with Washington State. I know I will need to report to the state that I am no longer the registered owner but I cannot find any guidance as to how to do that. I have found the forms for a report of sale but I am not selling the car.

Can anyone who has done a lease transfer share their experience in that regard? Preferably in WA but in general is helpful too.

Thanks!

Fast4d · 02-22-2017, 03:51 PM

I am in CA.

I assumed a BMW lease. AAA took care of all the paper work for me.

as far as the original lessee BMW would have taken care of that for you.

porshah · 02-23-2017, 11:15 AM

Part of paying the lease transfer fee of $500 to BMWFS, they will take care of your lease and registration termination. I have taken over and transferred multiple leases. You will just have to surrender the license plates to your local DMV.

mdavis3 · 04-19-2017, 09:59 AM

Quote:

Originally Posted by porshah

Part of paying the lease transfer fee of $500 to BMWFS, they will take care of your lease and registration termination. I have taken over and transferred multiple leases. You will just have to surrender the license plates to your local DMV.

Have you ever taken the car before you received the stage 3 registration papers? I want to have the car as soon as I am liable for it. But I've heard people say they got the car as soon as they got the email saying there items were mailed.

porshah · 04-19-2017, 10:26 AM

Yes. Last two I was able to get as soon as I received stage 3, and had proof of insurance. Registration is a pain in the ass in NJ so I was able to get the car with old NJ plates I had. You have to just work with the buyer to see if he/she will accommodate you. I did the same for my 650 lease that someone took over. I didn't have a problem, as long as they had the car covered by their insurance effective the date they picked up the car from me.

02-22-2017, 03:09 PM	#1
jwzimm Colonel 693 Rep 2,770 Posts Drives: '16 M3 Join Date: Jun 2011 Location: Renton, WA iTrader: (17)	Lease Assumption and Registration Question Hey all, I have listed my car for lease assumption to a new lucky owner. The one part of the process that I am fuzzy on is how to handle the registration with Washington State. I know I will need to report to the state that I am no longer the registered owner but I cannot find any guidance as to how to do that. I have found the forms for a report of sale but I am not selling the car. Can anyone who has done a lease transfer share their experience in that regard? Preferably in WA but in general is helpful too. Thanks! __________________ 2008 Honda S2000 - Current 2016 F80 M3 - SOLD!! 2011 e92 X-Drive Coupe - SOLD!!
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02-22-2017, 03:51 PM	#2
Fast4d Captain 271 Rep 885 Posts Drives: 325 Join Date: Jan 2012 Location: So cal iTrader: (0)	I am in CA. I assumed a BMW lease. AAA took care of all the paper work for me. as far as the original lessee BMW would have taken care of that for you.
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02-23-2017, 11:15 AM	#3
porshah Lieutenant 200 Rep 597 Posts Drives: M4, R8, Huracan - All topdown Join Date: Mar 2010 Location: Fairfield, NJ iTrader: (5) Garage List 2018 Audi R8 V10 Sp ... [0.00] 2021 BMW 330e xDrive [0.00] 2017 Lamborghini Hu ... [9.50] 2016 BMW M4 Convert ... [0.00]	Part of paying the lease transfer fee of $500 to BMWFS, they will take care of your lease and registration termination. I have taken over and transferred multiple leases. You will just have to surrender the license plates to your local DMV.
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04-19-2017, 10:26 AM	#5
porshah Lieutenant 200 Rep 597 Posts Drives: M4, R8, Huracan - All topdown Join Date: Mar 2010 Location: Fairfield, NJ iTrader: (5) Garage List 2018 Audi R8 V10 Sp ... [0.00] 2021 BMW 330e xDrive [0.00] 2017 Lamborghini Hu ... [9.50] 2016 BMW M4 Convert ... [0.00]	Yes. Last two I was able to get as soon as I received stage 3, and had proof of insurance. Registration is a pain in the ass in NJ so I was able to get the car with old NJ plates I had. You have to just work with the buyer to see if he/she will accommodate you. I did the same for my 650 lease that someone took over. I didn't have a problem, as long as they had the car covered by their insurance effective the date they picked up the car from me.
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