Call BMW and extend your lease a couple months. Things should (hopefully) start opening back up by June
Car payment relief during Coronavirus + incentive programs such as 'zero interest' and deferred payments
Can we merge this with the Car payment relief during Coronavirus thread…maybe it will help with the cause
“First world problem”?? Was that even necessary - the difference between a $500/ wheel repair charge and a $100/ wheel charge is pretty significant - perhaps you like pissing away your money.
Also I’d rather deal with as few people and not interact as much as possible. My trusted wheel repair places are shut or not taking booking s.
Please check your facts as the lease extension is not free
People are conflating “deferred payments for two months” with “free”. That’s not the case - you still need to make the 2 x payments at the end.
I’ve called BMW to get clarity, and the BMW forums concur - as stated in a previous post
Lease accounts:… up to two lease payments can be deferred and they will become due at the time your lease is up …
Until there’s written proof from BMW that it is indeed free for two months, then all should assume they are on the hook for the bill.
The govt already gave my stimulus check to someone else. So I can’t commit on a forum to giving it away.
Toyota Financial (TFS) can/will offer those who are affected financially a 30 to 60 day deferral of payment(s). This deferral will move your maturity date 30 or 60 days from the original contract date.
This deferral does not change the maximum amount of mileage you are allowed to drive the vehicle as indicated in your lease agreement and you are responsible for any registration due, insurance, etc.
They are not obligated to offer any financial assistance but I’m glad TFS is offering this option for folks that are struggling.
Just and FYI, the penalty for driving a PNO is over $400 plus the cost of registration - You would have been better just not registering - its a fix it ticket with only a $25 fee. But, I guess there are a lot of ‘registration experts’ on this site.
I wonder what the stipulations are for small business owners. Or maybe we are just ruled out entirely
5 Banks deferring mortgage payments.
Props to them.
I contacted Chase about this last week. They said I can pay as much or none of my mortgage payment for the next 3 months. No penalties, no fees, no credit reporting. They were very clear that what they are offering is not “deferring payments”.
However, at the end of the 90 days the full balance of three months is due.
I’m sure this is helpful in certain scenarios, but not really for most folks.
Perhaps what they are offering now is different.
That’s not really all that helpful for folks who are just now starting to see cash flow problems and are really going to be in the lurch at the end of those 90 days.
How is that not deferred payment(s)?
They are not adding three months to the loan maturity. Just allowing you to be flexible. The total is still due after 3 months. The others are adding the deferral to loan maturity.
11 posts were merged into an existing topic: Desperate Times Call for Desperate Measures (THE CORONAVIRUS LANDFILL THREAD)
So it’s a deferral. An extension would change the maturity. A payment deferral is Wimpy’s rules for : I’ll gladly pay you in 3 months for my car lease today.
Can some one confirm if the consumer has to pay interest on the deferred payments when the time comes? ( I tried calling BMWFS about this but couldn’t get hold of a rep)
While this isn’t a new lease deal it’s still a pretty slick deal anyway…
BMW FS just extended my lease 1 month for free and gave me prorated extra mileage until the end of May.
They said it’s because my dealership is closed that they are able to offer me that option.
OP updated with links to incentives such as ‘zero interest’ and 90-120 day deferral of payments