BMW Leasing Becomes a Little More Worry Free
BMW's leasing arm, called BMW Financial Services, has introduced the BMW Lease Protection Program. The BMW Lease Protection Program, which must be purchased at time of new-vehicle delivery, covers up to $3,750 in billed excess wear and use charges at turn in (not during the life of the lease).
In effect, it's an insurance program against getting whacked by BMW when turning in a vehicle after the lease has expired. Now, in fairness to BMW, all manufacturers come down hard on lessees who return vehicles with damage, especially when the damage drops the vehicle's residual value.
“Our new BMW Lease Protection product, which some might refer to as extended-wear-and-tear coverage, virtually eliminates the potential out-of-pocket costs of common repairs at lease-end , thus making the leasing experience that much more pleasurable,” explained Lisa McPherson, BMW Financial Services general manager of insurance, in a release made available to Torque News. “This is our latest program to make leasing a BMW (or a MINI) a pleasurable experience and minimizing issues surrounding wear and tear, tire and wheel problems and minor dings and dents which may become apparent when the vehicle is returned at the end of the lease.”
BMW Lease Protection joins BMW Tire & Wheel Protection, BMW Paintless Dent Repair and BMW Windshield Protection to provide coverage for everyday mishaps. These same programs are offered to Mini customers.