My current 2017 X3 lease ends on March 27th, but due to Covid-19 i am thinking to extend the lease for a 1 month or two. I am 12-13% below my mileage limit of 12k 36 months. I have called BMW, they said they can extend it for 2 months with the same monthly payment. I believe the maintenance expires 3 year 36k mile (just did full maintenance 2 months ago)but what about the warranty, is it 4 year 50k?
Do you think its a good idea to extend for a month or two? What are the draw backs. Please let me know.
Potential registration costs if you can’t transfer your plate to your new car. I guess if you’re paid up currently and aren’t due for renewal, you’d be ok here. If tires are close, you might have to spring for a set. Warranty is covered so you’re ok there. If brake pads are close, you might have to get those.
Thanks. I am good with registration and tires. I called BMW to extend, they are happy to do for 2 months, no questions asked.
In addition, regards to wear and tear charge. While discussing with BMW, said they don’t charge anything for curb rashes on Rims. Is that correct? I was thinking to get it fixed but now this discussion with BMW makes me wonder. I have seen some forums , where folks suggesting to repair it before return. Attched are the pics, any thoughts if this would be charged.20200310_132453|666x500
Get the lease end inspection done prior to turning in. This will tell you if there will be excessive damage charges and the cost. You can then see what they charge, and get a third party estimate on repair and compare the two costs. If third party is cheaper, get it repaired before turning in. If BMW charges less (if anything) turn it in as-is and pay them with your final bill.
Perhaps things have changed however when I extended my BMW lease it was 1 or 2 months at a time up to 6 months total. Just keep in mind the tires and factor that in to your decision making. It’s also pro rated so if you turn it in mid-month the extra just goes towards the disposition fee.
I have insurance through a big name company that has something called (MBI) which is an extended warranty on top of the 3/36 I already have. So after the 3/36 is done and if I decide to buy the car or extend the lease I’m still covered under this insurance up to 100k miles or 7 years, which ever comes first.
Also with everything going on in the economy between. Job losses and trillion dollar stimulus packages there is going to be a collapse in new car sales so going into the next 6 months the consumer has plenty of power in the new car department. I think it’s great your lease is up because you will be finding some great deals and lots of dealerships willing to make a deal. Remember now the tides have turned and everything from cars to houses to big renovations is now in favor of us the consumer and not the big suit and ties.
Or with plants and factories shut down both in the states and overseas, dealers will have the only inventory on hand which they have now which means dealers may not need to worry about deals.
What about folks losing their jobs? What about small business owners? If I were in OP’s shoes, given the current conditions, I would extend my lease for at least 3 months. It will give them some cushion.
Regarding car deals, at the end of the day, we are at the mercy of car manufacturers. If supply decreases, while demand increases then I doubt there will be “lots of dealerships” looking to make LH deals.
There could be better finance deals on new cars. Who knows?
This is not necessarily true. There will be some deals, yes, but dealers will not sell loser deals just to get cars off the lot. That’s not how the business works. It will be cheaper for them to let them sit and rot, or send them to auction. It’s been discussed by several salesman and sales managers on this site. If the captive programs aren’t there to support great deals, you’re dreaming if you think you, as the customer, have all the power and can just pick a car and get 30% off. In fact, you can likely expect the opposite effect, as dealers will want to safeguard profit, especially if they want to keep the lights on in an uncertain economy.
Further, while there will be fewer people buying a car, there will also be less inventory with parts shortages and plants closing, leaving you at parity.
As with 2008, expect much better finance offers and fewer lease deals, as captives will want to lessen their portfolio and not take on the risk.
I purchased Bmw lease return protection package with my lease. Will it also extend for an additional month with my lease extension
or is it valid only for a fixed 3 year lease?
Don’t ask the same question across multiple threads.