Car payment relief during Coronavirus + incentive programs such as 'zero interest' and deferred payments

Thanks, and let me update my post

Yes. This is what I am expecting all leasing companies to do - Dealerships are closed, and there is no other way to return cars. Assuming that the lessee wants to give the car back, the only thing they can do is extend the lease for free or pick the car up somehow.

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I just paid $22 for PNO :slight_smile:

https://g20.bimmerpost.com/forums/showthread.php?t=1706255

" Lease accounts (at least mine which is up in June):
Similar to financeā€¦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."

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In Colorado if you let it expiry and lease something new(or get a rid of that car) you just throw the plates away, no late fees! They arenā€™t quite up to California ahole standards yet.(plates stay with the owner, not the car)

I want to return my bmw. Itā€™s due back on the 31st. Tag sticker shows April.

Thing is - I specifically booked a pre-return inspection with the dealer- who specifically spoke to me that they had had their limited opening hours (closed Saturday through Tuesday), so made it for today - Wednesday 25th. No problem for me- booked it with them - and turned up to do it today as planned. No one was there to do the inspection. I was basically told I was SOL and they werenā€™t doing inspections or returns. No phone call to cancel or anything. Waste of a 45 min each way journey.

Now I donā€™t know what the charges are going to be for lease return damage (3 alloys curbed - not crazy bad curbing- one per wheel - largest is maybe 5ā€ long - but Iā€™m certain Iā€™ll have to pay something).

I wanted to see if it was going to be a rip off in the lease return charges, or if it was going to be reasonable- then decide if I should get them fixed before hand back. Now I donā€™t have that option, so kind of annoyed about the situation.

Anybody know the charges for curbed alloys at BMW? My VW was like $100/ wheel IIRC - if it is that much then I wouldnā€™t mind and just hand it back.

I can confirm this extension is available in NJ as well. A friend of mine called to report dealers closed in NJ and was offered free extension for a month with free 1000 miles as well.

You basically have a free BMW for probably 2+ months, if thatā€™s not 1st world problems I donā€™t know what is.

Get your wheels fixed in that time by a good wheel repair shop and you donā€™t have to waste your time doing a pre-inspection.

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Call BMW and extend your lease a couple months. Things should (hopefully) start opening back up by June

Can we merge this with the Car payment relief during Coronavirus threadā€¦maybe it will help with the cause

ā€œFirst world problemā€?? Was that even necessary :roll_eyes: - the difference between a $500/ wheel repair charge and a $100/ wheel charge is pretty significant - perhaps you like pissing away your money.

Also Iā€™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 ā€œdeferred payments for two monthsā€ with ā€œfreeā€. Thatā€™s not the case - you still need to make the 2 x payments at the end.

Iā€™ve called BMW to get clarity, and the BMW forums concur - as stated in a previous post

Lease accounts:ā€¦ up to two lease payments can be deferred and they will become due at the time your lease is up ā€¦

Until thereā€™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.

Caveat emptor

I called too and the 2 payments are due at lease end or when the accounts terminates (for example if you transfer the lease you must pay those 2 payments first)

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The govt already gave my stimulus check to someone else. So I canā€™t commit on a forum to giving it away.

:bat:

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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 Iā€™m glad TFS is offering this option for folks that are struggling.

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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 ā€˜registration expertsā€™ on this site.

I wonder what the stipulations are for small business owners. Or maybe we are just ruled out entirely

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5 Banks deferring mortgage payments.

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Got this email from Hertz today.

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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 ā€œdeferring paymentsā€.

However, at the end of the 90 days the full balance of three months is due.

Iā€™m sure this is helpful in certain scenarios, but not really for most folks.

Perhaps what they are offering now is different.

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