I was in a similar situation with Mercedes Benz recently and received the 14k overage as a separate check from Geico. Your insurance should ask for a letter for the payoff amount and anything overage should be paid to you. Look at your lease contract and see if you find the total loss section. I have it in my lease and it is pretty standard when you lease a Mercedes from Daimler financial. I believe BMW should be the same too.
