01-01-2016, 10:01 PM | #1 |
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Simple lease transfer question regarding proration
I'm mid lease and transferring it to another person. Assume my payment is Jan 22, 2016 and he's assuming the lease Jan 10.
Are lease payments for the month that just passed or the coming month? This impacts the proration calculation and whether I pay him or he pays me. |
01-01-2016, 10:46 PM | #2 | |
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01-02-2016, 08:03 AM | #3 |
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IIRC it is up to both parties to figure out proration since BMW does not, perhaps because you pay in advance on a lease. When I relinquished a lease once I remember having just made my payment and a few days later the paperwork went through. The guy I was dealing with understood that he was legally the owner of my car regardless of me having just made a payment but he did give me back the remaining prorated month. Some folks might not be as accommodating since they legally have no mandate to do so. Definitely something you might want to agree upon beforehand.
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01-02-2016, 08:58 AM | #4 | |
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01-02-2016, 10:04 AM | #5 | |
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01-02-2016, 10:46 AM | #6 | |
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