How it works
Seven steps from listing to release.
BMW Financial Services allows lease assumptions throughout the term, subject to credit approval. Takeover Board is where sellers and takers find each other and see the real numbers. The transfer itself happens with BMW FS.
Before you list
- At least six months left on the lease. BMW FS won't assume shorter terms, and we won't list them.
- Not an Owner's Choice or employee lease. Those can't be assumed.
- Four photos minimum, including one of the odometer. We verify the VIN against the model you enter.
- No phone numbers or emails in the description. Takers reach you through the board; your email is never shown.
The transfer
- Seller calls BMW Financial Services to start the assumption
The transferor (seller) starts it; the taker can't. BMW FS bills the seller the lease-assumption processing fee: $500 plus applicable tax. If the listing says the taker reimburses it, settle that between you.
- BMW FS emails the credit application to the taker
Standard credit check. Nothing is owed to BMW FS by the taker at this point.
- Taker is approved
Typically 3–7 business days. If the taker is declined or cancels after applying, BMW FS keeps $100 + tax and refunds the rest to the seller. Cancel before any application and the full fee comes back.
- Both sign the assumption documents
BMW FS sends them. Read the end-of-lease section: the taker now owns the disposition fee, excess mileage and excess wear.
- Inspect and hand over the car
Meet in person, check the odometer against the listing, photograph the car together. Agree in writing on the incentive payment and any MSD reimbursement before keys change hands.
- DMV registration
The taker registers the car in their name and county. California taxes each lease payment at the taker's rate, which is why the board recomputes the effective monthly for your city.
- Collect the release confirmation
The seller asks BMW FS for written confirmation that they are released from the lease. Keep it.
What things cost
| Fee | Amount | Who pays |
|---|---|---|
| Listing on Takeover Board (90 days) | $49 | Seller, flat, up front |
| Browsing, inquiries | $0 | Taker |
| Dealer quote audit | $39 | Whoever has the quote |
| BMW FS lease-assumption fee | $500 + tax | Billed to the seller; listings say if the taker reimburses |
| Seller incentive | Varies | Seller pays the taker directly. We never hold it. |
| Disposition fee, excess miles, wear | Per contract | Taker, at lease-end (disposition waived if you re-lease with BMW FS) |
| Success fee, commission, escrow | None | We don't charge or offer these |
How the effective monthly is computed
Effective monthly = advertised payment, retaxed at your rate, minus the seller incentive spread across the remaining months, plus any transfer fee you pick up spread the same way, plus the expected disposition fee and projected mileage overage spread the same way, minus any MSD reimbursement owed to the seller. The breakdown on every listing shows each line. Numbers come from the seller's contract, which we ask them to photograph; verify them before you sign.
All lease assumptions are subject to BMW Financial Services credit approval and policies. Takeover Board does not negotiate, hold funds, or arrange the transfer.