Received a PCS? What Happens to Your BMW Financing or Lease?

If you’ve received a Permanent Change of Station (PCS), it’s important to understand how your relocation affects your BMW financing package. While you prepare for your next chapter in your location, we’re here to help ensure a smooth transition for your auto loan or lease. Here are some steps to take and tips to keep in mind from the experts at Casey BMW.

How Your Move Affects Your BMW Lease or Loan

The changes to your BMW financing or lease package will be determined by the nature of your financing and whether you’re staying in or leaving the Continental United States (CONUS). Let’s look at the three primary scenarios.

Bought or Leased, and Transferring Within CONUS

If you stay in the US, your loan or lease continues as before. There are some steps you’ll still need to take – more on those in a minute – but it’s simple.

Leased and Transferred Outside CONUS

This is a slightly different situation. You can turn in your lease at your BMW dealership without penalty if you transfer outside the Continental United States for more than 180 days.

Bought and Transferring Outside CONUS

Unlike leases, you can’t terminate a loan. Your options include a private sale or a buyback at your BMW dealership. Depending on your financing, you may be able to ship the vehicle to your new duty station, but this isn’t always allowed, and is generally costly in any event.

Your BMW Financing Checklist Before You Move

There are a handful of to-dos you’ll need to take care of. Here’s a checklist to help you cover all the bases:

• Provide our dealership, as your lender, with your new address.
• Inform your auto insurance company about your relocation.
• Research your new city and state’s registration and inspection requirements. You’ll likely need new license plates, tags, and a windshield sticker.
• Update your driver’s license so you’re fully compliant when you drive through your new location.

Most states allow a grace period, so as long as you’re diligent, you’ll have plenty of time to complete your checklist.

Our BMW Financing Professionals in Newport News, VA, are Here to Help

Receiving a PCS can be equally intimidating and exciting, but we hope you’re looking forward to your relocation. We’re here to answer your questions and make your BMW financing transition smooth. Come to our Newport News, VA BMW dealership today to learn how we can help!