I purchased my mini with the mini select loan. I now may need to get rid of the car to qualify for a new home loan. Can anyone tell me if I can just advertise it as a take over payments? I'd lose my down and last year of payments but I'll do what I need to do to get the home loan through.
Any feedback or personal experience with this would be appreciated.
Thanks......

 

Most loan's and leases explicetly prohibit transferring them...cause the lender looses control. Besides, if you sell the car, pay off the loan, it will better in a few ways!!

 

I am not sure for loans but for lease is possible. When I was looking to buy mine last year, I explored the possibility of just getting a lease to try the car for a while and then order a new one with all the gadgets I wanted, but I found my clubman almost the way I wanted for a killer price
The site I was using to look for a lease was lease trader (www.leasetrader.com) and it looks like BMW-Mini financial services allow you to transfer leases:
"Comments:
Mini Financial takes on average 2-4 weeks to complete the lease transfer paperwork.

Cannot transfer in the first and final 6 months of lease.
Other Policy Information:
Mini Financial charges a $350 disposition fee. This fee is charged when a leased vehicle is turned in at the completion of the lease term and the purchase option is not exercised."

I will say contact Mini financials and explain them your situation (no harm on trying).