03-23-2020, 10:19 PM | #1 |
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Current BMW Financing and Lease payment deferral information
Featured on BIMMERPOST.com Finance accounts: Presently offering the opportunity to defer two payments - payments will be added to the end of your existing contract and you will still accrue interest for the months deferred. Your contract will be extended by the number of payments you deferred. Lease accounts (at least mine which is up in June): Similar to finance....presently up to two lease payments can be deferred and they will become due at the time your lease is up however your lease term is not extended. They act like a balloon payment payable at the end of your lease term. That said you can of course make these payments anytime before the end of your lease if you wish. Disclaimer: This is simply what was shared with me today by the rep I happened to get on the phone |
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03-25-2020, 12:39 PM | #4 |
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how do you defer the payments on the lease? do you have to call in or is that feature available online?
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03-25-2020, 12:40 PM | #5 |
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For leases, they are postponing the payment, which is good but for finance, it sounded like they trying to incur additional interest, disappointing
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03-25-2020, 12:41 PM | #6 | |
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Tell them you need a two month break. The downside is interest continues to accumulate.
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03-25-2020, 12:43 PM | #8 | |
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No break on interest being collected. REFI will reset the interest ‼️
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03-25-2020, 12:45 PM | #9 | |
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Quote:
No interest penalty on lease if delayed like an installment loan.
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03-25-2020, 12:48 PM | #10 |
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It doesn't get reported to the credit bureau?
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550imsport201429.50 |
03-25-2020, 01:00 PM | #14 |
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No it does not... most banks are doing this not just BMW so you guys really need to jump at the opportunity. It doesn't matter how much money you have right now everyone can use a bit of help in these rough times.
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03-25-2020, 01:00 PM | #15 |
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My lease is due back 4/20. I previously saw they were extending leases with a complimentary 30 days if your return was coming up. Anyone spoken to bmw about this?
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03-25-2020, 01:03 PM | #16 | |
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Tell BMWFS the timing is bad currently.
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03-25-2020, 01:07 PM | #18 | |
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Quote:
The m340 I have on order.
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03-25-2020, 01:10 PM | #19 | ||
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We all have to be extremely flexible during these extremely difficult and challenging times.
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03-25-2020, 01:18 PM | #21 |
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As a BMWFS employee i can say we are taking this situation seriously!
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03-25-2020, 01:22 PM | #22 | |
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It's a time to invest in relationships like never before.
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