Leased Car / Title Question

avatar220 · 10-23-2013, 01:35 AM

Hey Guys,

So I'm leasing my first BMW (2013 335i xDrive M-Sport). I signed the paperwork and drove it off late August.

So far, I have made 2 payments on the car. Recently in the mail, I got the title of the car from NY DMV. It is the original copy of the title. The VIN matched and everything. The weird thing is on the bottom, where the leinholder's name is suppose to be, it says "No Liens Recorded" .

This is really weird since technically I do not own the car. My last lease was a 2010 Mazda 3 and I never even got the title. What does this mean? Was this an error?

Thanks for all your help!

Sedan_Clan · 10-23-2013, 01:38 AM

That is weird. I've never had that occur living in California. Maybe NY handles things differently.

Kabrich · 10-23-2013, 02:00 AM

Quote:

Originally Posted by avatar220

Hey Guys,

So I'm leasing my first BMW (2013 335i xDrive M-Sport). I signed the paperwork and drove it off late August.

So far, I have made 2 payments on the car. Recently in the mail, I got the title of the car from NY DMV. It is the original copy of the title. The VIN matched and everything. The weird thing is on the bottom, where the leinholder's name is suppose to be, it says "No Liens Recorded" .

This is really weird since technically I do not own the car. My last lease was a 2010 Mazda 3 and I never even got the title. What does this mean? Was this an error?

Thanks for all your help!

Its a screw up. You should never have been sent the title in any form or fashion on a lease.

Is the title in your Name or BMW Financial Services?

trey100 · 10-23-2013, 07:50 AM

Congrats on paying off your new BMW!

avatar220 · 10-23-2013, 09:42 AM

Quote:

Originally Posted by Kabrich

Its a screw up. You should never have been sent the title in any form or fashion on a lease.

Is the title in your Name or BMW Financial Services?

That's the weird thing, the title's name and address of the owner is under my name only. There's no BMW financial services listed anywhere.

avatar220 · 10-23-2013, 09:48 AM

Quote:

Originally Posted by trey100

Congrats on paying off your new BMW!

hahaha i wish!!

alex2364 · 10-23-2013, 09:49 AM

Whoever did the paperwork made a mistake, but congrats...you own the car free and clear now!

kyleb350 · 10-23-2013, 09:51 AM

Stop the payments and runnn!

JK, you'll probably have to send the title back.

btbossman · 10-23-2013, 09:57 AM

LOL awesome news OP...maybe you get a free car...its about time NY state pays back it loyal citizens

Cyberdemon · 10-23-2013, 10:05 AM

FYI the exact same thing happened to me when I was financing my Acura. I got a title with no liens on it and thought "Jackpot"

The bank called me furiously 3 days later insisting I needed to shred it and got the corrected title sent. The NY DMV just sucks.

Ironically, I never shredded it and I just found the spare key. I should probably just drive over to the new owners house, drive off with it and get myself a free TL-S! Off to the DMV to re-register it in my name and sell it again! Lol best car thievery ever.

Cliffnotes: Expect a panicked call from BMWFS in the next few weeks once they realize they haven't received the title.

carzaddict · 10-23-2013, 10:16 AM

yeaaaaaaaaaaaaaa..........thats never happened to me.

keep us updated on what happens and how long it takes for someone to call you about it

F32 · 10-23-2013, 10:39 AM

Go to your nearest grimey casino and get a marker against the title. Bet it all on red. Collect.

avatar220 · 10-23-2013, 01:45 PM

Yeah definitely I'll keep you guys updated. It was just weird that I got it in the mail with me listed as the only owner.

If it is a lease vehicle, shouldn't it not have my name on the title at all since it's like me "renting" the vehicle?

Thanks for all your input guys! Let's see how long it'll take before I get that phone call lol

Eric SS · 10-23-2013, 02:37 PM

OK, don't listen to anyone on here saying to take the money and run. Title screw ups happen all the time (Thanks DMV!) and you will never be able to convince a court that every other piece of paperwork that the dealership provides is falsified. Just call BMWFS and let them know what happened.

Cyberdemon · 10-23-2013, 02:56 PM

Foot in mouth.

Deleted853 · 10-23-2013, 05:12 PM

Quote:

Originally Posted by Cyberdemon

You are not "renting" the vehicle, that's one of those things that people say about leases that is not correct.

You legally own the vehicle and are indebted to BMWFS under certain terms.

Those terms are you agree to make payments each month for X months and at the end of your agreed upon terms (36 months) you will either return the vehicle in an agreed upon condition, or purchase the vehicle for a pre-agreed price. That's why the vehicle is registered in your name on your insurance.

When you rent a car you just drive around someone else's vehicle and agree to give them some money. They are completely responsible for the vehicle and you agree to pay them for a different set of terms.

I don't believe this is correct. In California at least, BMW FS is on the title.

FotiosF90M5 · 10-23-2013, 05:20 PM

Quote:

Originally Posted by Mwm1166

Quote:

Originally Posted by Cyberdemon

You are not "renting" the vehicle, that's one of those things that people say about leases that is not correct.

You legally own the vehicle and are indebted to BMWFS under certain terms.

Those terms are you agree to make payments each month for X months and at the end of your agreed upon terms (36 months) you will either return the vehicle in an agreed upon condition, or purchase the vehicle for a pre-agreed price. That's why the vehicle is registered in your name on your insurance.

When you rent a car you just drive around someone else's vehicle and agree to give them some money. They are completely responsible for the vehicle and you agree to pay them for a different set of terms.

I don't believe this is correct. In California at least, BMW FS is on the title.

MA as well. BMW FS on reg.

Steve33 · 10-23-2013, 06:10 PM

Call BMW and say you're not making anymore payments since you have the title just to see their response

Kabrich · 10-25-2013, 10:26 AM

Though you "legally" own the car, BMW could file a lawsuit which they would win hands down and you would end up paying all kinds of legal costs. Better to just get it straightened out.

10-23-2013, 01:35 AM	#1
avatar220 New Member 2 Rep 17 Posts Drives: 2020 M340i Join Date: Aug 2013 Location: NY iTrader: (0)	Leased Car / Title Question Hey Guys, So I'm leasing my first BMW (2013 335i xDrive M-Sport). I signed the paperwork and drove it off late August. So far, I have made 2 payments on the car. Recently in the mail, I got the title of the car from NY DMV. It is the original copy of the title. The VIN matched and everything. The weird thing is on the bottom, where the leinholder's name is suppose to be, it says "No Liens Recorded" . This is really weird since technically I do not own the car. My last lease was a 2010 Mazda 3 and I never even got the title. What does this mean? Was this an error? Thanks for all your help!
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10-23-2013, 01:38 AM	#2
Sedan_Clan Law Enforcer 24973 Rep 22,265 Posts Drives: '22 Chalk Gray Porsche C2S Join Date: Jun 2006 Location: ..in your rearview!!! iTrader: (26)	That is weird. I've never had that occur living in California. Maybe NY handles things differently.
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10-23-2013, 07:50 AM	#4
trey100 Colonel 1125 Rep 2,564 Posts Drives: 2020 M2 Competition Join Date: Jul 2007 Location: New York iTrader: (0)	Congrats on paying off your new BMW!
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10-23-2013, 09:49 AM	#7
alex2364 Colonel 2857 Rep 2,750 Posts Drives: 2020 M4 ZCP / 2023 X3 M40i Join Date: May 2005 Location: Northern VA iTrader: (2) Garage List 2020 BMW M4 [10.00] 2023 BMW X3 M40i [10.00]	Whoever did the paperwork made a mistake, but congrats...you own the car free and clear now!
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10-23-2013, 09:51 AM	#8
kyleb350 Brigadier General 424 Rep 4,709 Posts Drives: '21 X3MC Join Date: Jun 2008 Location: Milwaukee iTrader: (6)	Stop the payments and runnn! JK, you'll probably have to send the title back.
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10-23-2013, 09:57 AM	#9
btbossman Banned 104 Rep 1,715 Posts Drives: 2013 335xi M sport--2014 M6 Join Date: Jul 2013 Location: Charlotte, NC iTrader: (0)	LOL awesome news OP...maybe you get a free car...its about time NY state pays back it loyal citizens
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10-23-2013, 10:05 AM	#10
Cyberdemon Brigadier General 1538 Rep 3,331 Posts Drives: 2020 X5 40i, 2018 M3 Comp Join Date: Jun 2012 Location: Long Island NY iTrader: (3)	FYI the exact same thing happened to me when I was financing my Acura. I got a title with no liens on it and thought "Jackpot" The bank called me furiously 3 days later insisting I needed to shred it and got the corrected title sent. The NY DMV just sucks. Ironically, I never shredded it and I just found the spare key. I should probably just drive over to the new owners house, drive off with it and get myself a free TL-S! Off to the DMV to re-register it in my name and sell it again! Lol best car thievery ever. Cliffnotes: Expect a panicked call from BMWFS in the next few weeks once they realize they haven't received the title. __________________ Current: '20 X5, '18 M3 ZCP Previous: '11 E90 335i, '11 E90 M3, '16 VW GTI, '15 M235i, '13 335i, '08 TL-S, '00 Corvette
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10-23-2013, 10:16 AM	#11
carzaddict Lieutenant Colonel 158 Rep 1,573 Posts Drives: 2015 Cadillac Escalade ESV Join Date: Aug 2013 Location: NJ iTrader: (0)	yeaaaaaaaaaaaaaa..........thats never happened to me. keep us updated on what happens and how long it takes for someone to call you about it __________________ 2015i Cadillac Escalade ESV
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10-23-2013, 10:39 AM	#12
F32 Banned 20 Rep 688 Posts Drives: BMW Join Date: Jul 2013 Location: SF iTrader: (0)	Go to your nearest grimey casino and get a marker against the title. Bet it all on red. Collect.
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10-23-2013, 01:45 PM	#13
avatar220 New Member 2 Rep 17 Posts Drives: 2020 M340i Join Date: Aug 2013 Location: NY iTrader: (0)	Yeah definitely I'll keep you guys updated. It was just weird that I got it in the mail with me listed as the only owner. If it is a lease vehicle, shouldn't it not have my name on the title at all since it's like me "renting" the vehicle? Thanks for all your input guys! Let's see how long it'll take before I get that phone call lol
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10-23-2013, 02:37 PM	#14
Eric SS Lieutenant 195 Rep 467 Posts Drives: 2016 Chevy SS Sedan Join Date: Mar 2011 Location: Phoenix iTrader: (0)	OK, don't listen to anyone on here saying to take the money and run. Title screw ups happen all the time (Thanks DMV!) and you will never be able to convince a court that every other piece of paperwork that the dealership provides is falsified. Just call BMWFS and let them know what happened. __________________ 2011 335is Black/Oyster. 1 of 46 without moonroof (total of all years): JB4 E50 tune, gone 2013 335i M Sport JB4: Estoril Blue gone 2018 M4 ZCP: current 2023 X3M Comp: current
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10-23-2013, 02:56 PM	#15
Cyberdemon Brigadier General 1538 Rep 3,331 Posts Drives: 2020 X5 40i, 2018 M3 Comp Join Date: Jun 2012 Location: Long Island NY iTrader: (3)	Foot in mouth. __________________ Current: '20 X5, '18 M3 ZCP Previous: '11 E90 335i, '11 E90 M3, '16 VW GTI, '15 M235i, '13 335i, '08 TL-S, '00 Corvette Last edited by Cyberdemon; 10-23-2013 at 05:47 PM..
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10-23-2013, 06:10 PM	#18
Steve33 Captain 50 Rep 808 Posts Drives: 2018 SQ5 Join Date: Apr 2013 Location: SoCal iTrader: (0)	Call BMW and say you're not making anymore payments since you have the title just to see their response
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10-25-2013, 10:26 AM	#19
Kabrich Banned 354 Rep 1,986 Posts Drives: '13 AH3 (335IH) 3F93 MSport Join Date: May 2013 Location: Florida iTrader: (6)	Though you "legally" own the car, BMW could file a lawsuit which they would win hands down and you would end up paying all kinds of legal costs. Better to just get it straightened out.
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