BMW Lease Return Options
If your BMW lease is about up, it’s time to make an important decision about your vehicle: trade it in or keep it? If you’ll be trading up, there are a few things to take care of before you head to a BMW lease return center. If you love your car and want to keep it, there are a few different ways of buying out your lease. Read this guide from the BMW of Tenafly finance center for more about the BMW lease return process and your car lease buyout options.
Turning in Your BMW Lease
We know you’ll want to get behind the wheel of your new BMW as soon as possible, so we work hard to ensure a smooth BMW lease return process! You can make it even easier by getting your vehicle inspected and repaired beforehand. Here’s what you need to know before heading over to our BMW lease return center in Tenafly:
- Schedule a Pre-Inspection – You’ll be contacted by BMW Financial Services when it’s time to set up a pre-inspection, but you can take care of it early by scheduling a complimentary pre-inspection on your own. Schedule your pre-inspection here!
- Check Your Inspection Results Online – Sign into My BMW to access your Vehicle Return Estimate, a summary of estimated charges for recommended repairs and lease-end payments.
- Make Necessary Repairs – Your vehicle may require repairs in order to be eligible for BMW lease return. If so, we recommend visiting our BMW Service Center near Fort Lee. All work done on your vehicle will be performed by certified BMW technicians, using only genuine OEM replacement parts.
- Return Your BMW – Finally, contact your BMW Center to schedule a final inspection and return your vehicle. You’ll sign a Federal Odometer Statement at this appointment, so be sure your mileage is under the limit set by your lease term at this time.
- Access Your Vehicle Return Statement – You can view any balance due or refund in process by accessing a copy of your Vehicle Return Statement by signing in to My BMW shortly after you’ve returned your vehicle. A copy will also be mailed approximately two to three weeks after your vehicle is returned.
Buy out your BMW Lease
What is a Lease Buyout?
If your lease is about to expire, you’ve probably heard the term “lease buyout.” What is a lease buyout? Simply put, a lease buyout is when you buy your leased vehicle. So, how does a lease buyout work? That depends on whether you wait till the end of your lease term, or buy out before the end of your lease:
- Lease-End Buyout – Most drivers choose lease-end buyout, which requires you to purchase the vehicle at a predetermined lease-end value. This is a good choice if you’re happy with your vehicle, and it has required little to no repairs during the time you’ve been driving it.
- Early Lease Buyout – Early lease buyout means you buy the vehicle before the lease term is up. You may choose this option if your vehicle has depreciated more quickly that expected, has required significant repairs, or you’ve exceeded lease mileage limits. Keep in mind that it’s not allowed by all lease contracts.
If you are interested in purchasing your BMW lease you can view your payoff information under your Account Details page for the vehicle you wish to purchase. Select Payoff Information from the navigational menu to proceed.
Take the Next Step
Whether you’re dropping off your BMW at our lease return center, or browsing BMW cars for sale in Tenafly, the team at BMW of Tenafly is here to help. We strive to make buying or leasing your next car easy and hassle-free with our convenient online buying tools! Visit our virtual showroom, value your trade, and calculate monthly payments from your home — and don’t hesitate to reach out with any questions about car lease buyout options or your BMW lease return.
Make a Lease Return Appointment
