E90Post
 


Euromotive Performance
 
BMW 3-Series (E90 E92) Forum > BIMMERPOST Universal Forums > General BMW News and Cars Discussion > Current BMW Financing and Lease payment deferral information



Reply
 
Thread Tools Search this Thread
      03-23-2020, 09:19 PM   #1
chenry
Lieutenant Colonel
833
Rep
1,655
Posts

Drives: BostonWhaler, M340
Join Date: Feb 2012
Location: SoCal

iTrader: (7)

Current BMW Financing and Lease payment deferral information

BIMMERPOST
     Featured on BIMMERPOST.com
Here is what I was told today by BMW financial services:

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
Appreciate 12
      03-24-2020, 06:10 AM   #2
cb804
Lieutenant
932
Rep
523
Posts

Drives: 340 xDrive, M2C
Join Date: Jul 2014
Location: Chicago

iTrader: (0)

Thank you!
Appreciate 0
      03-25-2020, 11:38 AM   #3
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Great post... FYI for all....

This option is always available by any lending institution or bank.

The consumer must ask, then sign an extension to the original note, thus allowing the extension.
Appreciate 1
Miko M5777.00

      03-25-2020, 11:39 AM   #4
ChOy BoY
Captain
ChOy BoY's Avatar
United_States
295
Rep
871
Posts

Drives: 2020 G20 Twilight Purple M340i
Join Date: Sep 2007
Location: Brooklyn, NY

iTrader: (8)

how do you defer the payments on the lease? do you have to call in or is that feature available online?
__________________
2020 G20 Individual Twilight Purple M340i xDrive
2017 F80 30 Jahre ///M3 -- Retired
2012 E93 ///M3 -- Retired
2013 F30 M Sport EBII ActiveHybrid3 -- Retired
2011 E92 M Sport 335i xDrive -- Retired
Appreciate 1
      03-25-2020, 11:40 AM   #5
psuibmw
Colonel
psuibmw's Avatar
United_States
1531
Rep
2,254
Posts

Drives: 2017 F15/2011 F10/2008 E90
Join Date: Feb 2011
Location: Baltimore, MD

iTrader: (0)

Garage List
2011 BMW F10 535  [4.00]
2008 BMW E90  [0.00]
For leases, they are postponing the payment, which is good but for finance, it sounded like they trying to incur additional interest, disappointing
Appreciate 2
Mehim54.00
ChiTownM145.00

      03-25-2020, 11:41 AM   #6
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Quote:
Originally Posted by ChOy BoY View Post
how do you defer the payments on the lease? do you have to call in or is that feature available online?
Call their customer service.

Tell them you need a two month break.

The downside is interest continues to accumulate.
Appreciate 0
      03-25-2020, 11:42 AM   #7
ChOy BoY
Captain
ChOy BoY's Avatar
United_States
295
Rep
871
Posts

Drives: 2020 G20 Twilight Purple M340i
Join Date: Sep 2007
Location: Brooklyn, NY

iTrader: (8)

Quote:
Originally Posted by ///M TOWN View Post
Call customer service.

Tell them you need a two month break.

The downside is interest continues to accumulate.
sorry i edited my post it's for my lease not the finance
__________________
2020 G20 Individual Twilight Purple M340i xDrive
2017 F80 30 Jahre ///M3 -- Retired
2012 E93 ///M3 -- Retired
2013 F30 M Sport EBII ActiveHybrid3 -- Retired
2011 E92 M Sport 335i xDrive -- Retired
Appreciate 1
///M TOWN2977.50

      03-25-2020, 11:43 AM   #8
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Quote:
Originally Posted by psuibmw View Post
For leases, they are postponing the payment, which is good but for finance, it sounded like they trying to incur additional interest, disappointing
That's unfortunately how installment loans work.

No break on interest being collected.

REFI will reset the interest ‼️
Appreciate 0
      03-25-2020, 11:45 AM   #9
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Quote:
Originally Posted by ChOy BoY View Post
Quote:
Originally Posted by ///M TOWN View Post
Call customer service.

Tell them you need a two month break.

The downside is interest continues to accumulate.
sorry i edited my post it's for my lease not the finance
It's the same on both as far as asking for extension.

No interest penalty on lease if delayed like an installment loan.
Appreciate 0
      03-25-2020, 11:48 AM   #10
BigSky702
Captain
BigSky702's Avatar
499
Rep
757
Posts

Drives: 2016 M4 Sakhir Orange
Join Date: May 2016
Location: Ohio

iTrader: (0)

It doesn't get reported to the credit bureau?
__________________
Current: 2020 M340i

Previous: 2016 M4 Sakhir Orange

Not too distant future: ///M3 or ///M5 (ED)
Appreciate 1
      03-25-2020, 11:55 AM   #11
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Quote:
Originally Posted by BigSky702 View Post
It doesn't get reported to the credit bureau?
Lates will not appear on credit if you sign an agreement for such extension.
Appreciate 1
F85MTuNED605.00

      03-25-2020, 11:55 AM   #12
mymfive
Registered
0
Rep
1
Posts

Drives: BMW M5
Join Date: Mar 2020
Location: Brooklyn NY

iTrader: (0)

Garage List
2019 M5  [0.00]
Quote:
Originally Posted by BigSky702 View Post
It doesn't get reported to the credit bureau?
This is my main concern
Appreciate 0
      03-25-2020, 11:58 AM   #13
SoCali E36
BMW Client Advisor
SoCali E36's Avatar
United_States
413
Rep
3,358
Posts

Drives: X5 40e/e36 M3 Sedan
Join Date: Jan 2008
Location: Where the road takes me...

iTrader: (10)

They are also offering a 60 day grace period if your lease is up right now.
__________________
Appreciate 0
      03-25-2020, 12:00 PM   #14
F85MTuNED
Captain
F85MTuNED's Avatar
605
Rep
842
Posts

Drives: ///Ⓜ️
Join Date: Mar 2015
Location: NY / NJ

iTrader: (0)

Quote:
Originally Posted by BigSky702 View Post
It doesn't get reported to the credit bureau?
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.
__________________
IM POOR..
Appreciate 5
///M TOWN2977.50
SCS5554.00
M3 MT67.50

      03-25-2020, 12:00 PM   #15
MindFusion FX
Private
United_States
38
Rep
97
Posts

Drives: 2017 BMW 530i
Join Date: Aug 2014
Location: United States

iTrader: (0)

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?
__________________

'20 Portimao Blue M340i Coming Soon
'17 Dark Graphite 530i Current
'14 Alpine White 328i Retired
Appreciate 0
      03-25-2020, 12:03 PM   #16
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Quote:
Originally Posted by MindFusion FX View Post
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?
Ask for 90 days.

Tell BMWFS the timing is bad currently.
Appreciate 0
      03-25-2020, 12:05 PM   #17
Balazzo556
WOLF Pack Member
Balazzo556's Avatar
United_States
29
Rep
51
Posts

Drives: 2012 BMW 535i w M Package
Join Date: Dec 2012
Location: Bowie, MD

iTrader: (0)

Garage List
What do I have to do to get that extension ... call BMWFS????
Appreciate 0
      03-25-2020, 12:07 PM   #18
MindFusion FX
Private
United_States
38
Rep
97
Posts

Drives: 2017 BMW 530i
Join Date: Aug 2014
Location: United States

iTrader: (0)

Quote:
Originally Posted by ///M TOWN View Post
Quote:
Originally Posted by MindFusion FX View Post
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?
Ask for 90 days.

Tell BMWFS the timing is bad currently.
Not a bad idea. The Mexico plant shut down so who knows when I'll get
The m340 I have on order.
__________________

'20 Portimao Blue M340i Coming Soon
'17 Dark Graphite 530i Current
'14 Alpine White 328i Retired
Appreciate 0
      03-25-2020, 12:10 PM   #19
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Quote:
Originally Posted by MindFusion FX View Post
Quote:
Originally Posted by ///M TOWN View Post
Quote:
Originally Posted by MindFusion FX View Post
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?
Ask for 90 days.

Tell BMWFS the timing is bad currently.
Not a bad idea. The Mexico plant shut down so who knows when I'll get
The m340 I have on order.
Why not.

We all have to be extremely flexible during these extremely difficult and challenging times.
Appreciate 0
      03-25-2020, 12:11 PM   #20
Y3MUR
New Member
2
Rep
10
Posts

Drives: X3 M40i
Join Date: Feb 2020
Location: United Kingdom

iTrader: (0)

Hi guys im in uk and currently on a pcp deal am I entitled too for this many thanks
Appreciate 0
      03-25-2020, 12:18 PM   #21
Ramesses
New Member
United_States
21
Rep
6
Posts

Drives: 13' 750Lix M-Sport
Join Date: Nov 2018
Location: Canton

iTrader: (0)

As a BMWFS employee i can say we are taking this situation seriously!
Appreciate 12
///M TOWN2977.50
chenry832.50
Mr Burns148.50
SCS5554.00
530iDriver1412.00
sikotic111.50
spuntyb1334.50

      03-25-2020, 12:22 PM   #22
///M TOWN
.
///M TOWN's Avatar
2978
Rep
2,973
Posts

Drives: ///M
Join Date: Aug 2018
Location: North America

iTrader: (0)

Quote:
Originally Posted by Ramesses View Post
As a BMWFS employee i can say we are taking this situation seriously!
We're all in this together.

It's a time to invest in relationships like never before.
Appreciate 5
chenry832.50
Dimitri205.00
SCS5554.00
530iDriver1412.00

Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 12:04 AM.




e90post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2020, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST