You have three choices when the lease on your BMW expires. You can select a new BMW to purchase or lease. You can turn in the BMW you are driving. Or you also can re-lease the BMW you are currently driving. This technically extends your release, but BMW refers to this as a re-lease rather than an extension.
Call your BMW lease-end relationship consultant at (800) 959-4BMW (4269) to arrange and negotiate a short-term re-lease. You may re-lease for a minimum of one year and a maximum of three years.
Talk to your lease-end relationship consultant about the payment and terms of your re-lease. BMW Financial Services will determine a new lease payment within about 30 days out from your current lease maturity date.
Sign the new re-lease agreement to keep a lease on the BMW you are driving if you are satisfied with the terms.
You may also opt to purchase the BMW you are driving when your lease expires. To do so, pay the residual value shown on your original lease outright or finance the full amount due through BMW Financial Services.
Traci Bridges is a veteran newspaper editor and reporter. She earned her bachelor's degree in political science with a minor in print journalism from The University of Alabama. She began writing for the "Morning News," a daily newspaper in South Carolina, in 1998. Since then, her work has appeared in several other publications including the "Winston-Salem Journal," "Tampa Tribune" and "AARP Magazine."