GM offering automatic lease extension due to Coronavirus

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Got an email from GMF yesterday with the following in it. Looks like you can extend your lease by one month without even contacting them:

One-month automatic lease extension - If you are unable or choose not to return your vehicle, we will process a one-month extension to allow you additional time. No need to contact us – if we don’t hear from you 10 days after your original termination date, we will automatically extend your lease for one month. You will receive notification of the extension at this email address. Later, if more time is needed, we will work with you on a solution that meets your needs.

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2 posts were merged into an existing topic: Desperate Times Call for Desperate Measures (THE CORONAVIRUS LANDFILL THREAD)

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These next few months should be interesting for the car world. My lease expires in September, so I’m following this rollercoaster closely as it all develops.

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It’s now on their website too: https://www.gmfinancial.com/en-us/coronavirus.html

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just a thought, wouldn’t you also have to renew your registration? My wife’s volt was up as well as her registration fees. So why extend it if you also have to renew your registration for another year?

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Precisely. You’ll end up paying a year’s worth of registration to drive the car for one additional month. Or just let it expire and shelter in place for a month with expired tags lol

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Friend just had his Land Rover DIsco Sport lease extended for 6 months, which can be returned at any time during those 6 months. They also extended the warranty for 6 months too.

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Not sure about other states, but in NJ registrations are automatically extended by 2 months.

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I am sure Mad Max did not have a valid registration on his car. Make sure your LTC is up to date though.

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I looked at the GM website. I am considering this, but had some questions:

  1. Does this apply to me? Lease ends June 1.
  2. Is this advisable/beneficial (I don’t have a problem returning the car on time), or are there gotchas?
  3. Do I need to pay extra? I did not find info on this.
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Yes it applies to you.
You might not have a problem, but dealers might not be able to ground the car.
Yes, you need to pay the monthly, but no extra charge for extending it.

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Yes, you need to pay the monthly

The lease was $12k for 3 years. I decided to put 5k down, and pay 155/mo. So… I just pay 155 for the extra month? Sounds weird since some might have a lower down payment and higher monthly.

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I just inquired to GMF about extending my lease and they said “do you want to extend just for one month, or for longer? We are allowing you to keep the car for one month for free due to COVID.”

I’m looking to extend up to 6 months so I didn’t go further down that route, but sounded like it was free to me for the single month.

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Would GMF extend lease, for a month free, even for one pay leases?

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I just called them and they are planning to begin lease transfers again on May 1

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Mine is a one pay and they sent me the email. I think it is a case of not wanting to return during COVID situation than anything else.

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What happens if you are close to miles. Do they give you extra miles along with that month?

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I highly doubt it. I think it’s basically a free month because a lot of people might not be able to to turn in the vehicle. On the normal lease extension you don’t get any extra miles either.

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My lease expiring in May and I called GMF to find current policy of lease extensions. I was basically told the same thing that lease can be extended up top 6 months beyond the expiry. All we need to do is keep paying monthly installments for extra 6 months. We don’t get any extra miles and residual value stays the same I was told.
It will good for me at least and hoping better deals will be available around November.

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