Feeler: Lease Assumption on 2008 135i Convertible

[Angry3]

BIMMERPOST / Classifieds

Asking Price:

None

Item Interest

I can hardly believe I'm here doing this, but when life throws you a curve ball you do what you have to do. My fiancee and I are parting ways and I have to get into a car with enough room for my 2 dogs (either by assuming out the 135 or buying a beater of some sort). I'm not 100% committed to parting with this car since there's no way I can get into another lease at terms even close to this one, but I still think doing so makes the most sense.

The car was delivered at New Motors BMW in Erie PA with 7 miles on the odometer. The car is a 4/08 build, I took delivery of it 2/28/09

The car is Blue Water Metallic, Black Top/Liner, Savannah Beige/Black Boston Leather Interior, Grey Poplar Trim. A great looking, very distinctive color combo that has the added benefit of being very easy to care for.

The car is very well optioned as follows:

-Metallic Paint

-Premium Package (Boston Leather, Power Seats/Lumbar, Lighting Pack, Bluetooth, etc.)

-Sport Package (Sport Seats, 18" 264 Wheels, M-Sport Steering Wheel w/ Paddle Shifters, Shadowline Trim)

-Cold Weather Package (Heated Seats/Washer Nozzles, Ski Bag/Pass Through)

-Steptronic Transmission

-Comfort Access System

-Ipod/USB Adapter

Basically all the good stuff save for Premium HiFi and Nav.

Lease Terms:

Lease Inception Date: 2/28/09
Lease End Date: 2/28/12
MSRP: $47,900
Sale Price: $42,750
Residual: 58%
Money Factor: .00029 (Base of .0005 less reduction for 3 MSDs)
Monthly Payment: $482.27 (plus tax, my 3% tax in payment is right at $497)

Current Miles:17,550
Alloted Miles: 36,007

Security Deposits: 4 X $500, $2000 total

In a nutshell, the party assuming the lease will step right into my shoes with BMWFS, and have what's effectively a 21 month lease with a bit over 18,000 miles remaining. The assuming party will need $2500 up front, $500 of which will go to BMWFS for their assumption fee, the remaining $2000 of which will go to me as reimbursement for the 4 security deposits on the car. That $2000 will be refunded in full at the end of the lease term as long as the lease guidelines are followed.

The car is in excellent condition, has been garaged since delivery and always 2 bucket washed by hand. I'll obviously go over specifics of the car's condition with any interested party.

As I understand this process BMWFS wants parties assuming leases to be at least a similar credit risk to the original lessee, if not better, so please have good credit or the ability to prepay some or all of the payments as needed. Also I would really like to deal with an assuming party in NC or a nearby state (SC, GA, TN, VA, MD, WV) if possible, as I'm not prepared to ship this car or deal with someone I can't meet in person.

I will post some pics of the car or forward them to interested parties, there are a few in my first post to the board which I will try to find a link to.

Thanks for reading, send me a PM if you're interested.

[Angry3]

Link to my purchase thread with a few pics of the car. Will have more this weekend after I have the chance to give her a bath.

http://www.1addicts.com/forums/showthread.php?t=249904