[YoungGuna86]

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Also posted in General Forum but looking for answers quick...

Anyone familiar with Lease Buyouts?


I am buying a 335 from a gentleman who was still on a lease. he purchased the vehicle from BMW and then is selling it to me...however the title came in BMW name transferred to him. Now he must send title to Albany for them to transfer it to him so he can sign to me...I called ALbany to see if there was any way to expedite it and they are saying you cant send it directly to ALbany you have to get a sales tax receipt from local DMV who sends papers...NOw i am all confused and have no car since i sold mine to pay for his...Anyone with experience or knows sum1 in industry who can help me??? Located in Queens, NY

Very much appreciated

[335fourdoor]

Originally Posted by YoungGuna86

Also posted in General Forum but looking for answers quick...

Anyone familiar with Lease Buyouts?


I am buying a 335 from a gentleman who was still on a lease. he purchased the vehicle from BMW and then is selling it to me...however the title came in BMW name transferred to him. Now he must send title to Albany for them to transfer it to him so he can sign to me...I called ALbany to see if there was any way to expedite it and they are saying you cant send it directly to ALbany you have to get a sales tax receipt from local DMV who sends papers...NOw i am all confused and have no car since i sold mine to pay for his...Anyone with experience or knows sum1 in industry who can help me??? Located in Queens, NY

Very much appreciated

the OP you bought the car from needs to go to DMV with you with the title ,transfer it to your name,at that time you pay all fees applicable(sales tax,registration fee if needed).DMV will register the car in your name and procure a new title with your name on it(you might need to wait for hard copy).hopefully this helps.good luck.

[YoungGuna86]

Originally Posted by 335fourdoor

the OP you bought the car from needs to go to DMV with you with the title ,transfer it to your name,at that time you pay all fees applicable(sales tax,registration fee if needed).DMV will register the car in your name and procure a new title with your name on it(you might need to wait for hard copy).hopefully this helps.good luck.

Thanks for your efforts but that is only if the title is in his name and then i can transfer it to me. The title has BMW as seller and him as buyer, now he must wait for a title to come in his name as sole owner so that i can sign as buyer. Thats the part that takes about a week which has left m with no car. Any other ideas though are welcome...Wish i had a connect up in Albany!

[DrDomer]

Your stuck waiting, BUT in the state of Iowa there are laws that allow you to drive on his registration for up to 30 days. You can also get a temporary registration in most states to let you drive while you wait for the title. I'll be buying a 330ci off someone tomorrow, he has to wait to get title from BMW but I'll get car tomorrow, and I could drive it if I needed to.

[YoungGuna86]

Originally Posted by DrDomer

Your stuck waiting, BUT in the state of Iowa there are laws that allow you to drive on his registration for up to 30 days. You can also get a temporary registration in most states to let you drive while you wait for the title. I'll be buying a 330ci off someone tomorrow, he has to wait to get title from BMW but I'll get car tomorrow, and I could drive it if I needed to.

I called the DMV here in NY and it seems like they can do this temporary registration while we wait for the title. Thanks so much for your help! NOw i just gotta hope this lady isnt an idiot and the dmv tomorrow morning actually does this for me or ill be pissed i took off work.