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BMW 3-Series (E90 E92) Forum > E90/E92/E93 Marketplace (For Sale / Trade / Wanted) > Private Owners For Sale / Trade / Wanted > Cars for Sale > FS: 2009 335xi Space Grey, Black Dakota, Nav - LEASE ASSUMPTION



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      08-04-2010, 11:12 AM   #1
bonwit904
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FS: 2009 335xi Space Grey, Black Dakota, Nav - LEASE ASSUMPTION

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Hi All

I have floated the idea before but am now ready to move forward with this due to a change in personal circumstances (need an SUV - will likely get an X5). I am looking to have someone assume the lease, through BMW FS, on my 2009 335i xDrive Sedan, details:

LEASE PAYMENT: $559 a month WITH 7% NJ TAX INCLUDED

20 MONTHS REMAINING (due back March 31st 2012 - just in time for the F30!!)

This is a 12k mile a year lease but I Purchased 7 thousand additional miles at the beginning of the lease (it makes more sense then take a 2% hit on residual with a 15k lease) - which gives you 22,500 miles, or a little over 1100 miles a month between now and the end of the lease. Additional miles can be purchased at $.16 a mile UP TO 5 MONTHS BEFORE LEASE END IF YOU NEED MORE

Space Grey
Black Dakota Leather
Dark Wood
Navigation
Cold Weather Package (including heated steering wheel)
iPod / USB Adapter
Satellite Radio
Premium Package
6 Speed Steptronic Auto Transmission
BMW Assist with Bluetooth
TIRE AND WHEEL INSURANCE FOR 4 YEARS WITH NO CAP (transferrable)

20,400 Miles

The car is in immaculate condition - if any of you know me, you would know how fanatical I am about detailing my cars. This car just received a full detail (from me of course..) less than a week ago (the mid-summer refresher) that included a Klasse AIO topped with Dodo Supernatural. I constantly maintain the leather with Leatherique Pristine Clean (it truly looks brand new, with that matte finish, no creasing, etc...) as well as the steering wheel for a brand new look and feel (I hate when they get that shiny look to them...). The car is truly flawless - I welcome anyone local to come look at it, drive it, etc... You will agree that the car looks like it has no more than 3-4k on it.

This car has not been modded and has had no aftermarket work done to it (aside for the hard-wire installation of my Valentine 1, and Escort Laser Shifter ZR4 - which is not being sold with the car - all of this work was done at Samm Sound in West Caldwell, NJ).

The car was purchased and has been serviced according to the BMW Maintenance Schedule at Paul Miller BMW in Wayne, NJ. I also had them update the iDrive to the newest software specification a few weeks ago.

No accidents, garage kept, never tracked, never smoked in

This is a closed-end lease (typical BMW lease) at $559 a month. I think you will find that this is one of the better prices out there. To get this price I put down 2k, got the car at $250 over invoice, and took advantage of a BMW loyalty program in March 2009 for 1k.

Given that I purchased an additional 7k miles (for $1,120), put down $2,000, and purchased the Tire and Wheel Insurance for $795 - Total of $3,900 - I am going to ask for $1,100 dollars from the individual assuming the lease (I think this is fair and very much in the buyers favor given that I am assuming the majority of the cost and have used less than half the lease and mileage)

There are also 8 MSD (multiple security deposits) that come to I believe $4800 that will be returned to the indavidual assuming the lease at the conclusion of the lease (can not be kept by BMW for any reason) - this will also have to be given to me upon the assumption as will. This is standard practice - I wont go through an explanation as I am assuming most are well versed in this (if any questions please contact me)

Please contact me to see the car, speak on the phone etc..

Scott


Last edited by bonwit904; 08-04-2010 at 11:52 PM.
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      08-04-2010, 12:53 PM   #2
nissan
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Nice price on that, but please make sure you have an attorney draft a solid agreement on the MSDs. ~2 years is a long time from now and with all the dishonest ppl out there, it could turn into a headache collecting that $ from the lessee. Doubt 99% of the ppl on this forum would pull something like that, but ppl have scammed/been scammed here before.
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      08-04-2010, 01:07 PM   #3
bonwit904
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The contract is with BMW Financial Services - the leasee would enter into a contract with them to receive the identical amount at lease end they would pay me upon transfer. Essentially my hands are wiped clean of the lease, and it is as if the indavidual assuming had been in it from the start. BMW is very good about this - they are very receptive to transfers. No attorney needed. In fact the person assuming makes out better - they got to keep the interest on the MSD principal for the past 16 months!!

It would make no sense for me or the individual assuming to work out any type of contract that would have no MSD money exchanged until lease end - too much risk for both of us.
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      08-04-2010, 01:14 PM   #4
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      08-04-2010, 01:49 PM   #5
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Got it, I missed the part that the full MSD amount was to be paid @ time of transfer.
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      08-04-2010, 02:48 PM   #6
bonwit904
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^ sorry for my amature mistake - it's an e90 sedan.
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      08-05-2010, 08:33 AM   #7
bonwit904
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Forgot to mention that I just replaced two of the tires (due to wear) and was planning on doing another two later this month. You will have 4 new tires.
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      08-05-2010, 08:32 PM   #8
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no sport ?? whats the current buyout ?
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      08-06-2010, 05:23 PM   #9
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Quote:
Originally Posted by nyc4runnin View Post
no sport ?? whats the current buyout ?
No Sport - on XI models it adds nothing but a different wheel style, seats, and a steering wheel, no difference in the way the car drives.

I am not sure what the current buyout is - It is not going to be good though, with such a strong residual that got me into a 559/mo payment the buyout is bound to be not so great.
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      08-10-2010, 09:56 PM   #10
bonwit904
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BUMP
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      09-24-2010, 12:53 PM   #11
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Interested- please email pics and information
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