What to Do if You Miss a BMW Lease Payment

Leasing is an excellent way for many drivers to finance their new or pre-owned vehicles. However, what should you do if you miss a BMW lease payment? Casey BMW is here to help you get back on the right track.

Missed or Late BMW Lease Payments

Different states have different regulations on missed or late loan payments. In Virginia, if a payment is more than seven days late, the borrower may incur a fee of up to 5%. So, if you submit your monthly payment more than a week after the established due date, you might have to pay a late fee.

If you miss multiple payments or are consistently late, your loan could default, severely impacting your credit score. We believe in setting up our customers for success, so our BMW finance center helps each driver get a lease that fits their budget.

How to Avoid Missing a BMW Lease Payment

The best way to avoid missing a BMW lease payment is to let our finance center create a lease plan that works for you. Here are a few ways that we can customize your payment plan so you don’t have to miss a single payment:

• Pre-pay lease program
• Multiple security deposits to lower your payments
• Locked-in lease rates

We’re also happy to help you extend your lease and adjust your mileage plan, and when you’re ready, we will provide whatever guidance you need to return your vehicle at the end of your lease.

BMW Lease Deals Near Norfolk, VA

You deserve to drive the luxury coupe, convertible, sedan, or SUV you’ve always dreamed of. Our team is standing by to help you get a BMW lease plan that works for you so you never miss a payment. Visit our BMW dealership in Newport News, VA, today to find out how we can help!