View Full Version : Lease Transfer Question
03-11-2009, 12:59 PM
If anyone on here work at the BMW dealership, please help out. My sister is on my Lease as a co-sign and i want to take her off the lease. What has to be done?
03-11-2009, 02:27 PM
Is that legally doable? The lease was based on those conditions for a guarantor.
03-11-2009, 02:41 PM
Are you sure you would even qualify for a lease on your own? Most likely if you had a co-signer that means you didn't qualify on your own.
Call your dealer, speak to them.
03-11-2009, 06:51 PM
i have a co-signer bcuz the dealer told me that my credit was fresh and not used, still confused. So the dealer asked me to get a co-signer, and my sister helped me out. I talked to BMW Canada about this and they told me if my payments and work history is fine i can take the co-signer off and they have an admin fee of $500. Now i want to go to the right dealer to deal with this. I hate the sales rep. i had and don't want to go see him or talk to him regarding this. Please let me know a good person i can deal with if anyone knows.
03-11-2009, 07:03 PM
Ok..initially when you leased your car your credit score is not high enuf .. therefore
you need a co-signer.
The question now is.. why do you want to spend $500 to get her off yr lease?;if your payment is good. it shoud not affect yr sis's credit rating...
Why do you want to take her off it? Sibling fallout?
Unless you're worried you can't pay and will affect her credit, go with it.
03-11-2009, 07:56 PM
I'm pretty sure you would have to re-apply as a new lessee. I really wouldn't advise you to do this for many reasons. The main reason is if you didn't have sufficient credit before to lease the vehicle then i doubt during the course of the lease your credit improved so much that you would be able to put the vehicle under your name. It also depends on the amount outstanding. But in reality if you already have the car why on earth would you want to mess up your credit by putting it under your name. every time you apply for a credit check its a knock off your credit rating, I'm just saying is it really worth the hassle?
03-12-2009, 03:20 AM
i have to do this bcuz my sister wants to get a new house and open a new business. This is affecting her bcuz she's got a few properties, suv and my lease under her name.
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