Hi all,
Just wanted to share my experience trying to assume a lease from one of the members on this board, in hopes to shed some light on what else could have been done, or to make sure others dont waste their time.
This is not to flame the member, as I wont mention his name unless someone asks, but just sharing my experience to see if I was in the wrong, or if I was right in not going any further with him.
He currently has a 2014 M235i on the classifieds as a lease takeover. I messaged him and it took over a week for him to get back with me via message. No problem, totally get it, people have lives. He finally called me 1.5 weeks later to discuss meeting up to look at the car and get the process started. We live/work close so I figured this would be a painless process to assume the lease on a great car for a great price. We texted, and ended up talking on the phone. We set up a meeting tonight to look at the car.
All was going well until he asked/told me that I would be required to pay half of the MSDs to him ($1750 up front - 7 MSDs for $3500) via check. We would then start the application process, and I would give him the rest of the MSDs upon key turnover.
Now, I understand MSDs and have no problem giving $3500 to the person giving over the lease, knowing that I will get the $3500 at the end of the lease now that it is in my name. However, giving, for all intents and purposes, a complete stranger, $1750 via check before anything is in writing, was completely crazy to me.
He told me this was a "sign of good faith" and "to let him know I was serious", and that "this isnt going to work out without trust" and my response to that is that no one who isnt serious, its going to pay the $530 application fee to BMW to start the process. If he is asking to trust him, than he should trust me that I'm serious about the process and paperwork and the $3500 will be paid over at key turnover/paperwork being signed. I even offered to put the money in escrow as a sign of good faith, which is much safer than just giving someone a check, if this was something he really required now instead of in 2 weeks when the lease transfer was approved.
I brought this up to him, and his response was "ok I understand, I will require $500 upfront and we can figure out the rest during the phase of the lease transfer"
He kept on stressing that hes under no pressure to get rid of the lease, that he can sell it to someone else on the forum, that he can sell the car to carmax, I cant get a M235i for this price anymore, etc.
It was at this point that I told him I would not be pursuing the vehicle as I would not, under any circumstances, be giving him any cash or check up front. He then wished me good luck on my car search, sent me a picture of his car invoice for some reason, told ME that I wasted HIS time, and that was that.
I am at work and I'm sure I left out some details as im in sales and its crazy here at the end of the month, and to be completely honest, I'm still dumbfounded over the conversation I just had with the board member, so please ask if something doesn't make sense. I also took screenshots of all the conversations.
Once again, I am new to the BMW lease process and this is not to flame the user, but it seemed, to be completely honest, to be a complete scam, unless I am missing something.
Just wondering what you guys thought, and if I dodged a bullet on this or I am overreacting? And if it does seem fishy, to warn others against dealing with this member.
Just wanted to share my experience trying to assume a lease from one of the members on this board, in hopes to shed some light on what else could have been done, or to make sure others dont waste their time.
This is not to flame the member, as I wont mention his name unless someone asks, but just sharing my experience to see if I was in the wrong, or if I was right in not going any further with him.
He currently has a 2014 M235i on the classifieds as a lease takeover. I messaged him and it took over a week for him to get back with me via message. No problem, totally get it, people have lives. He finally called me 1.5 weeks later to discuss meeting up to look at the car and get the process started. We live/work close so I figured this would be a painless process to assume the lease on a great car for a great price. We texted, and ended up talking on the phone. We set up a meeting tonight to look at the car.
All was going well until he asked/told me that I would be required to pay half of the MSDs to him ($1750 up front - 7 MSDs for $3500) via check. We would then start the application process, and I would give him the rest of the MSDs upon key turnover.
Now, I understand MSDs and have no problem giving $3500 to the person giving over the lease, knowing that I will get the $3500 at the end of the lease now that it is in my name. However, giving, for all intents and purposes, a complete stranger, $1750 via check before anything is in writing, was completely crazy to me.
He told me this was a "sign of good faith" and "to let him know I was serious", and that "this isnt going to work out without trust" and my response to that is that no one who isnt serious, its going to pay the $530 application fee to BMW to start the process. If he is asking to trust him, than he should trust me that I'm serious about the process and paperwork and the $3500 will be paid over at key turnover/paperwork being signed. I even offered to put the money in escrow as a sign of good faith, which is much safer than just giving someone a check, if this was something he really required now instead of in 2 weeks when the lease transfer was approved.
I brought this up to him, and his response was "ok I understand, I will require $500 upfront and we can figure out the rest during the phase of the lease transfer"
He kept on stressing that hes under no pressure to get rid of the lease, that he can sell it to someone else on the forum, that he can sell the car to carmax, I cant get a M235i for this price anymore, etc.
It was at this point that I told him I would not be pursuing the vehicle as I would not, under any circumstances, be giving him any cash or check up front. He then wished me good luck on my car search, sent me a picture of his car invoice for some reason, told ME that I wasted HIS time, and that was that.
I am at work and I'm sure I left out some details as im in sales and its crazy here at the end of the month, and to be completely honest, I'm still dumbfounded over the conversation I just had with the board member, so please ask if something doesn't make sense. I also took screenshots of all the conversations.
Once again, I am new to the BMW lease process and this is not to flame the user, but it seemed, to be completely honest, to be a complete scam, unless I am missing something.
Just wondering what you guys thought, and if I dodged a bullet on this or I am overreacting? And if it does seem fishy, to warn others against dealing with this member.
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