Financing or Extending Your Current Lease
Not sure if you want to keep your current lease or select a new BMW? Lease extensions are available for up to 6 months from lease end.
Can I postpone my BMW payment?
BMW Financial Services offers eligible customers with the option to postpone one or more monthly payments. To find out if you are eligible for a deferment, please contact BMW Financial Services at 1 (800)578-5000 to discuss your options.
Will BMW finance a lease buyout?
We will help you purchase your vehicle outright with financing options through BMW Financial Services. Should you wish to purchase the vehicle that you are currently driving, you may do so by paying the residual value* shown on your original lease agreement.
Does BMW allow lease transfers?
Fortunately, BMW is one of the most accommodating manufacturers to work with when it comes to early lease termination, as they allow for lease transfers.
Can you extend BMW lease? – Related Questions
Can I sell my leased BMW to Carmax?
Yes! In most cases, you can sell your leased car in almost the same way as any other financed car. We’ll appraise the car, then contact the leasing company for a payoff quote and process any equity you might have.
Do you have to return BMW lease with run flat tires?
Tires with cuts or gouges will result in additional lease end charges. Please note: If your vehicle originally came equipped with run-flat tires, then your vehicle must be returned with run-flat tires. Otherwise you will be charged for new tires.
What credit score do you need for a BMW lease?
The average credit score for people who leased a vehicle in 2020 was about 729. At our South BMW Center, we typically consider 700 and above to be a good credit score for approval of a lease. It is possible to lease a vehicle when your credit score is lower, but that usually means it will be more expensive.
What does it mean to assume a lease?
A lease assumption allows one person to assume an in-process lease from another person. For example, if your neighbor had 18 months left on his car lease, and you wanted to take over his lease, you would simply assume his lease and start making the payments each month for the remaining 18 months.
Does lease transfer affect credit?
Find a new owner to take over your lease, if your contract permits transferring. You’ll have to pay a transfer fee, but your credit will not be impacted.
Is swap a lease a good idea?
A lease swap can be beneficial to everyone involved. The person getting rid of the lease can move on, and the person assuming the lease can meet a temporary vehicle need, potentially at a lower overall cost than a long-term lease or a car purchase.
Can I lease a car for someone else?
Yes! If you are a parent or a partner etc and you would like others to be able to drive this is fine as long as the leaseholder is the main driver on the insurance. Provided they are fully insured there won’t be a problem.
Can my girlfriend drive my leased car?
Q: Can someone else drive my leased car? A: Most lease contracts specify who is allowed to drive a leased car. Typically, that includes a spouse or immediate family. Lease companies usually require a request for permission for drivers outside your immediate family.
Can two people share a lease car?
Anyone in theory can drive your lease car as long as you trust them, so your friends and family most certainly can (although your dog can’t unfortunately). However, whoever the main driver is must be on the insurance policy and is responsible for who they give permission to drive their lease car.
Who is the legal owner of a leased car?
In the case of a lease vehicle, this will be the Finance Company and not the driver. When you lease a vehicle, you’re essentially renting it on a long term basis and will not become the owner of the vehicle at the end of the agreement.
What happens if you get caught speeding in a lease car?
If you receive a speeding ticket during your lease agreement then the finance provider will forward you the ticket to you by post.
When you lease a car do you own it?
You don’t own the vehicle. You get to use it but must return it at the end of the lease unless you decide to buy it. They include the cash price or a down payment, taxes, registration, and other fees.
Can you put a private plate on a lease car?
Yes, you can add your private plate to a lease car, if you get permission from the finance company. There are a few documents you need to obtain before adding your private registration on to your lease car.
Does a private plate affect insurance?
No. You are required by law to display a registration mark on your vehicle. A private number plate should not be considered a vehicle modification and your insurer should not change your premium as a result.
Do you have to tell your insurance if you change your number plate?
As well as updating the DVLA of the change, you’ll also need to update your insurance company. Just as if anything else on your policy changes, any insurance policy will need to be changed to ensure it’s covering the new plate, and not still attached to the old one.
Do I have to retain my old number plate?
Do I have to keep my existing registration number? No you don’t. The DVLA will allocate a replacement registration number to the car when you move your personalised number to your next vehicle. If your existing registration number is just a standard one, then you may be wasting your money paying to retain it.