BimmerFest BMW Forum banner
1 - 5 of 5 Posts

·
Bimmerfest Founder
Joined
·
15,481 Posts
Discussion Starter · #1 · (Edited)
"BMW Group Financial Services and BMW of North America recognize our customers may continue to be impacted by the
coronavirus (COVID-19) global pandemic and may be in need of additional options as they approach Lease maturity.
Although our first goal is to put customers into a new vehicle, we want to ensure we are providing the tools and resources
to help keep customers mobile during this time.

Due to multiple shelter-in-place orders and dealer closures, BMW Group Financial Services and BMW of North America
recognize customers may experience a larger gap between the maturity of their current Lease and the delivery of their
next vehicle. BMW Group Financial Services is currently offering impacted customers up to a six (6) month Lease
Extension, without requiring a production number of proof of deposit. However, BMW Group Financial Services
recognizes certain situations may occur in which a Lease Extension does not provide sufficient time for customers, given
challenges in returning their current vehicle and viewing new vehicles.

Therefore, between now and June 30, 2020, BMW and MINI Financial Services customers may be eligible to participate
in the COVID-19 Customer Early- Out Re-Lease Program. This program will allow qualifying customers the
opportunity to Re-Lease their existing vehicle for an additional 12-month period. Customers will also be able to
terminate this new Lease contract during the 12-month term without incurring Early Termination liability."

Customer Eligibility:

This offer will be available for all credit approved BMW Group Financial Services Lease customers who have exhausted a
six (6) month Lease Extension and are prohibited from returning their vehicle due to unexpected delays relating to the
COVID-19 crisis. Re-Leases are only eligible for processing within the final 60 days to Lease Maturity.
In order to qualify for this program, in addition to the above, one of the below scenarios must also be met.

***8226; Customer has a new vehicle on order; however, the vehicle delivery is postponed due to
production/shipping delays.

***8226; Customer has a new vehicle on order; however, their dealer is closed and unable to facilitate delivery.

***8226; Customer intends to order a new vehicle; however, they are unable to place a new vehicle order due to a
dealer closure or a shelter-in-place order, as validated through Infobahn communication.

Customer Payment:

BMW Group Financial Services will exhaust all efforts to match the existing monthly Lease payment. In some situations,
the Re-Lease payment may increase from the original contract amount. These situations are, but not limited to, the
following:

***8226; Customer is over mileage on his/her current Lease. BMW Group Financial Services may be able to Re-Lease the
vehicle to this customer, but some of his/her excess mileage will be paid monthly in the Re-Lease.
Current contractual mileage allotments will not be modified.

***8226; Customer had a large Capitalized Cost Reduction or significant discount off of the original MSRP. If the
Capitalized Cost Reduction exceeds $2,500, BMW Group Financial Services may not be able to match the
current Lease payment.

In order to take advantage of the COVID-19 Customer Early Out Re-Lease Program, either the customer or
dealer will need to contact BMW Group Financial Services by calling (800) 959-4269.
 

·
Registered
Joined
·
490 Posts
Thanks for keeping us updated Jon. The 12 month re-lease program is a little hard to understand. From what I can tell, this is for current BMW leases that's already past their original end date and are in their 6 month extension period that will end by June 30, 2020. Is this correct?
 

·
Bimmerfest Founder
Joined
·
15,481 Posts
Discussion Starter · #3 ·
Thanks for keeping us updated Jon. The 12 month re-lease program is a little hard to understand. From what I can tell, this is for current BMW leases that's already past their original end date and are in their 6 month extension period that will end by June 30, 2020. Is this correct?
Customer Eligibility:

This offer will be available for all credit approved BMW Group Financial Services Lease customers who have exhausted a six (6) month Lease Extension and are prohibited from returning their vehicle due to unexpected delays relating to the COVID-19 crisis. Re-Leases are only eligible for processing within the final 60 days to Lease Maturity.

In order to qualify for this program, in addition to the above, one of the below scenarios must also be met.

(1) Customer has a new vehicle on order; however, the vehicle delivery is postponed due to production/shipping delays.

(2) Customer has a new vehicle on order; however, their dealer is closed and unable to facilitate delivery.

(3) Customer intends to order a new vehicle; however, they are unable to place a new vehicle order due to a dealer closure or a shelter-in-place order.
 

·
Registered
Joined
·
8,180 Posts
Announcing "COVID-19 Customer Early-Out Re-Lease Program"... (MORE)

Probably a lot of people were hoping to see (4) Anyone with a current cheap lease wanting to see if there will be some killer promotions coming and using Covid-19 as an excuse.

Looks like BMW has some smarts. I still applaud them from being proactive and thinking of a solution that seems more comprehensive than competitors.

Sent from my iPhone using Bimmerfest
 

·
Bimmerfest Founder
Joined
·
15,481 Posts
Discussion Starter · #5 ·
Probably a lot of people were hoping to see (4) Anyone with a current cheap lease wanting to see if there will be some killer promotions coming and using Covid-19 as an excuse.

Looks like BMW has some smarts. I still applaud them from being proactive and thinking of a solution that seems more comprehensive than competitors.
:thumbup:

I can see waiting until May 1st, but that should be it.

:angel:
 
1 - 5 of 5 Posts
Top