|
You're leasing a BMW and you've diligently made your payments. You've received the letter in the mail from BMW Financial Services (BMWFS) telling you your lease term is over soon.You Have 4 Options When The End of Your Lease Rolls Around
For our on-line customers, if you finance your lease buyout through our website, we will provide you with a free 150 point Certified Pre-owned vehicle inspection! If you return your lease to us through the website and purchase or lease a new vehicle from Faulkner BMW, we will give you $500 to apply to either your new vehicle or towards any excess mileage and wear charges from your lease turn-in!* Lease Maturity FAQ’sCan I return my lease to a dealer I didn’t purchase it from?Yes! You can return your lease to any BMW dealer – regardless if you leased it from them originally or not. How can I get a payoff quote for my auto lease?We can take care of that for you at Faulkner BMW – simply fill out this form, put *PAYOFF REQUEST* in the Comments/Questions section and someone will be in contact with you shortly! Can I end my lease early?You are able to buyout your lease at any time. You are also able to trade-in your vehicle at any time. You may also turn-in your lease at any time and are only responsible for the remaining payments on your lease. Is it difficult to buyout my lease?Absolutely not! With Faulkner BMW’s Lease Maturity Center, you simply have to fill out 2 forms, the “Buyout Your Lease" form and our “Secure Credit Application.” Our Business Manager will take care of lining up the financing using one of the many lending institutions we work with. Once everything is set up, you will be contacted to set up a time for you to come in and complete your paperwork. The paperwork process will take approximately one hour and you will be on your way! Can someone else purchase my leased vehicle?BMW Financial Services (BMWFS) is unable to conduct third-party sales. Your leased vehicle may only be purchased by the original lessee[s] or by a dealer. If you have someone who is interested in purchasing your leased vehicle, Faulkner BMW is able to purchase that vehicle first from BMWFS and then resell it to the interested party. Simply fill out our Return Your Lease form and indicate in the “Comments” section you have an individual who is interested in purchasing your vehicle. How long does the lease turn-in paperwork typically take?If you have filled out all of the information on-line before hand, and there are no unforeseen circumstances, it typically takes 20-30 minutes to complete the lease return. How long does the lease buyout paperwork typically take?If you have filled out all of the information on-line before hand, and there are no unforeseen circumstances it typically takes 45-60 minutes to complete the lease buyout. What if I don’t know if I want to buyout my lease or lease a new vehicle?We have a full staff of professionals who are here to help you make the best decision for you. Simply fill out our Lease Buyout form, indicate in the “Comments” section that you are undecided if you want to buyout your lease or purchase a new vehicle. We’ll have an expert ready to help you make the best decision! When should I have my vehicle inspected?It is recommended you have the inspection done within the last 2 months of your lease. This is recommended, because if any repairs are due, you have time to complete them before your lease term expires. Why can’t I just have my dealer perform the inspection of my vehicle?Authorized agents are the only ones who are able to provide End-of Lease Inspections. However, you are able to turn your vehicle into us upon Lease Return and we can contact the Authorized Agent to perform the Inspection. How long does the inspection take?Typically – the inspection takes approximately an hour, unless there is excess damage to your vehicle. Do I have to be present during the inspection?While it is tempting to hand over your keys and let the inspection proceed without you, we encourage you to be present for it. Your presence at the inspection will allow you to have a greater understanding of the results, and of any charges your vehicle may be assessed. Since you’ll be asked to sign the report, you’ll want to be present as the inspector looks at the vehicle. Additionally, you’ll receive a copy of the report for your records. If you simply can’t be present for the inspection, enlist someone who is familiar with your vehicle to be there. What if I Want to Extend My Lease?If you are interested in keeping your leased vehicle a little longer, or you just want to wait for a new BMW to come in, we’ll consider extending your current lease. You can, in most cases, extend your lease for one or more months at the same monthly payment. Contact Faulkner BMW at 717.569.4269 and one of our Customer Service Representatives can provide details about extending a lease. Ready To Make A Decision? Contact Us now! *Prior purchases are not eligible for discount. |
