I am approaching the maturity date on my 2018 340xi. It was originally due back in February but I was able to extend for 6 months.
When I spoke with BMW FS the rep said if I do not turn in the vehicle by the maturity date I will be charged $12 per day late fees (pro-rata of lease payment). I asked how long I could do this, and they said while they don’t recommend it as long as the registration and insurance is current it is legal, and to let them know that I will not be returning it on the date and when they can expect to receive the car back. These per day late fees can be applied to payout if purchasing.
Just wanting thoughts here. While I do not intend to do this for an extended period of time it is appealing for a couple months.
Appreciate any insight from others experience.
Other Data Points:
- Dealer Payoff $38,400
- Best Third Party offer: $33,000
- Warranty: Exp 2/2022