# Lease Extensions



## GK12650 (Aug 15, 2013)

Does anyone know if BMW ever extends lease terms for an additional year?


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## God-Follower (Oct 3, 2014)

Moved from the i-car subforum to an area more likely to get you accurate answers


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## Squeak (Sep 13, 2014)

GK12650 said:


> Does anyone know if BMW ever extends lease terms for an additional year?


My understanding is the only time they will do it is if you have a car on order or picking one up for European Delivery.


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## Dave66 (Oct 19, 2009)

I don't think they will extend for an additional year and I have been told that the terms are very unfavorable if they do.

I had a situation where my lease was ending and I did not have time to figure out what I wanted to do. I called BMWFS and obtained a two month courtesy extension with the same terms, including extra miles (which I did not need). All I had to do was sign a simple form. They will prorate the difference if I get something else and turn the car back in. I was told that extensions of up to 6 months are possible if I have a car on order. Very easy process and it gave me some time to make a decision.


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## BavarianDoc (Apr 23, 2003)

they need to approve the extension and usually is done to 3 month max. reach out directly to BMWFS

you need to have good reason (e.g. another BMW on order) and usually same terms are honored.


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## Ninong (May 20, 2014)

GK12650 said:


> Does anyone know if BMW ever extends lease terms for an additional year?


No, not that I was ever aware of. Extensions of few months are usually given to lessees who can prove that they have a new BMW on order and would like an extension until their new car arrives.


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## BHC (May 19, 2003)

A few years ago when I requested an extension with BMWFS they said I can extend for 2 months without a car on order. If I have a car on order (with production #), then they will let me extend up to 6 months. Not sure if things have changed since then.


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## djsaad1 (Sep 3, 2012)

You would think they would do this on a case by case basis. I am sure there are some payments they would love to keep going for another year.


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## pbjjj (Aug 2, 2015)

I spoke with BMWFS last week about extending my current lease because my ED X1 won't arrive until after the end date of this lease. I was informed that I am able to extend up to 6 months in my circumstance, but I did not go into the detail of the extension with BMWFS, such as payment and mileage. I am hoping my dealer would talk to BMWFS to get me the best payment & mileage when I meet with the dealer to finalize my X1 order payment.



BHC said:


> A few years ago when I requested an extension with BMWFS they said I can extend for 2 months without a car on order. If I have a car on order (with production #), then they will let me extend up to 6 months. Not sure if things have changed since then.


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## BHC (May 19, 2003)

pbjjj said:


> I spoke with BMWFS last week about extending my current lease because my ED X1 won't arrive until after the end date of this lease. I was informed that I am able to extend up to 6 months in my circumstance, but I did not go into the detail of the extension with BMWFS, such as payment and mileage. I am hoping my dealer would talk to BMWFS to get me the best payment & mileage when I meet with the dealer to finalize my X1 order payment.


The payment will be exactly the same as your current lease term. The mileage is pro-rated. For example, let's say you have a 12,000 miles per year lease at $500/month. If you are extending this for 6 months, you will pay $500/month and get an additional 1000 miles/month for 6 months.


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## pbjjj (Aug 2, 2015)

Thank you for the info!

You just reminded me that I do have a question... Since my current monthly lease payment includes the remaining my previous loan amount (the final amount that they paid for my previous BMW was less than the remaining loan amount at that time), would it be possible to negotiate that away? I am not sure how much difference it would make...



BHC said:


> The payment will be exactly the same as your current lease term. The mileage is pro-rated. For example, let's say you have a 12,000 miles per year lease at $500/month. If you are extending this for 6 months, you will pay $500/month and get an additional 1000 miles/month for 6 months.


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## Ninong (May 20, 2014)

pbjjj said:


> Thank you for the info!
> 
> You just reminded me that I do have a question... Since my current monthly lease payment includes the remaining my previous loan amount (the final amount that they paid for my previous BMW was less than the remaining loan amount at that time), would it be possible to negotiate that away? I am not sure how much difference it would make...


Actually there is no negotiation involved. You're dealing with the lender, not the dealer. You're asking the lender to do you a favor by extending your lease while waiting for your new car to arrive. They have a fixed way of dealing with such requests.


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## pbjjj (Aug 2, 2015)

I don't see it as a favor. I see it as good customer service. Haha!

Thank you for the response! I think I will just need to extend it by one month anyway.



Ninong said:


> Actually there is no negotiation involved. You're dealing with the lender, not the dealer. You're asking the lender to do you a favor by extending your lease while waiting for your new car to arrive. They have a fixed way of dealing with such requests.


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## Arcane.Host (Sep 8, 2006)

GK12650 said:


> Does anyone know if BMW ever extends lease terms for an additional year?


They extend for a period of 3 months initially. Then another 3 months if you request so. Total of 6 months is by max. You need to talk directly to them and the reason should be a new BMW on order or that you are in process of determining which BMW to order. There will be a one page agreement that you need to sign and email back before your lease mature date.

I did this last year. Our F10 lease was maturing on Feb 26 and we wanted to see if we wanted the i3 which wasn't available until then. After 3 months I did the 3 month further extension.


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## Arcane.Host (Sep 8, 2006)

pbjjj said:


> Thank you for the info!
> 
> You just reminded me that I do have a question... Since my current monthly lease payment includes the remaining my previous loan amount (the final amount that they paid for my previous BMW was less than the remaining loan amount at that time), would it be possible to negotiate that away? I am not sure how much difference it would make...


The payment will be the same. My F10 had a monthly payment of $116 including tax (heavy cap reduction due to trade in) for 1000 miles per month and this continued to be the same as default. Further, this is month to month and is prorated to the exact date so if you turn in with the last ten days remaining, you get a refund on the difference.


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## miata13 (Nov 22, 2007)

Arcane.Host said:


> They extend for a period of 3 months initially. Then another 3 months if you request so. Total of 6 months is by max. You need to talk directly to them and the reason should be a new BMW on order or that you are in process of determining which BMW to order. There will be a one page agreement that you need to sign and email back before your lease mature date.-----


I recently got the same info..up to a 6 mos. extension pending delivery of a BMW.....

I failed to follow-up on that response...

Does anyone know or have experience with a BMWFS lease extension pending receipt of an ordered *MINI*? I realize MINI and BMW operate separately but then again BMW owns MINI so hopefully they'd cooperate??? Unfortunately our lease ends at the end of February...not the best time to combine an ED summer trip to Europe....the new Clubman may be an option for us (or maybe too the new X1.....or another F31..which in later two cases, I can get the extension on a new BMW to the summertime if needed)

Thanks.


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## TXPearl (Apr 16, 2010)

Arcane.Host said:


> The payment will be the same. My F10 had a monthly payment of $116 including tax (heavy cap reduction due to trade in) for 1000 miles per month and this continued to be the same as default. Further, this is month to month and is prorated to the exact date so if you turn in with the last ten days remaining, you get a refund on the difference.


Hmmm. Interesting. Possible lease strategy here.

How long ago was this? I suppose BMWFS can change their rules at any time.


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## gpan (Nov 11, 2015)

TXPearl said:


> Hmmm. Interesting. Possible lease strategy here.


You got me thinking.. I can think of a couple of scenarios where using this 6 month extension might help financially

1) In the rare scenarios where a 24 month lease is cheaper than 36 month (7 series residuals for december yielded this scenario, for example), a 24+6 month lease might be a better alternative to a more expensive 36 month lease
2) These extensions can be used to time the next lease to fall into timeframes that are better for leasing - like december..

Anything else I missed?


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## djsaad1 (Sep 3, 2012)

gpan said:


> You got me thinking.. I can think of a couple of scenarios where using this 6 month extension might help financially
> 
> 1) In the rare scenarios where a 24 month lease is cheaper than 36 month (7 series residuals for december yielded this scenario, for example), a 24+6 month lease might be a better alternative to a more expensive 36 month lease
> 2) These extensions can be used to time the next lease to fall into timeframes that are better for leasing - like december..
> ...


Just quickly calculating different scenarios on a 7 series in December. It seems like it would take a $12k discount on the car for the 24 month to be a cheaper payment than the 36 month.

Probably not the easiest discount to get on a car that was just released, but if you can get that, then yes 24 month plus 6 month extension would be a great value.


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## gpan (Nov 11, 2015)

djsaad1 said:


> Just quickly calculating different scenarios on a 7 series in December. It seems like it would take an $11k discount on the car for the 24 month to be a cheaper payment than the 36 month.
> 
> Probably not the easiest discount to get on a car that was just released, but if you can get that, then yes 24 month plus 6 month extension would be a great value.


I meant the 2015 7-ers which are heavily discounted..


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