BMW X5
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read

Post Reply
 
Thread Tools Search this Thread
      06-15-2019, 09:59 PM   #1
AustinV
Second Lieutenant
AustinV's Avatar
Canada
112
Rep
236
Posts

Drives: BMW X5 40i (2019)
Join Date: May 2019
Location: Canada

iTrader: (0)

Leased car return story needed (preferrably from Canada)

Anyone can share their recent leased BMW return story / details / "gotchas"? Does the lease return insurance ($1,400 CAD) worth it?
Appreciate 0
      06-15-2019, 10:12 PM   #2
claykin
Brigadier General
United_States
1579
Rep
4,546
Posts

Drives: various BMW
Join Date: Nov 2009
Location: Florida

iTrader: (0)

Quote:
Originally Posted by AustinV View Post
Anyone can share their recent leased BMW return story / details / "gotchas"? Does the lease return insurance ($1,400 CAD) worth it?
What does this insurance cover? Why is it needed? Who is the underwriter or is this a BMW product?
__________________
2023 840GC | 2021 740i | 2019 X3
Appreciate 0
      06-15-2019, 10:22 PM   #3
AustinV
Second Lieutenant
AustinV's Avatar
Canada
112
Rep
236
Posts

Drives: BMW X5 40i (2019)
Join Date: May 2019
Location: Canada

iTrader: (0)

It's BMW Financials product, here's the link with their description. Most appealing part that you can supposedly return with completely worn out tires so $1,400 is about how much new tires will cost anyway. On the top of that it also covers $7,500 in wear / tear. But are they really that picky when returning?

https://www.bmwtoronto.ca/financing/...protection.htm
Appreciate 0
      06-15-2019, 11:52 PM   #4
russelldav
456bhp for breakfast
russelldav's Avatar
Canada
425
Rep
913
Posts

Drives: 2019 X5 50i
Join Date: Oct 2013
Location: Vancouver, Canada

iTrader: (0)

Quote:
Originally Posted by AustinV View Post
Anyone can share their recent leased BMW return story / details / "gotchas"? Does the lease return insurance ($1,400 CAD) worth it?
I got this but can't recall final price I negotiated - will need to pull paperwork out.
Appreciate 0
      06-16-2019, 08:22 AM   #5
youngdoc1
Private First Class
Canada
34
Rep
150
Posts

Drives: 2019 X4 M40i
Join Date: Jan 2012
Location: Toronto, Ontario

iTrader: (0)

Just returned one last month (my first lease return experience). Had the excess wear and tear. It does not cover tires with bulges, but does cover worn tires.
In my case it was completely worth it as I had a few scratches.
Absolutely zero hassle.
Appreciate 0
      06-16-2019, 11:14 AM   #6
russelldav
456bhp for breakfast
russelldav's Avatar
Canada
425
Rep
913
Posts

Drives: 2019 X5 50i
Join Date: Oct 2013
Location: Vancouver, Canada

iTrader: (0)

Quote:
Originally Posted by youngdoc1 View Post
Just returned one last month (my first lease return experience). Had the excess wear and tear. It does not cover tires with bulges, but does cover worn tires.
In my case it was completely worth it as I had a few scratches.
Absolutely zero hassle.
That was my logic too. I've leased for 48 months and with two kids it's going to experience a lot of family love over the next four years. Whether it's paint chips, wheel rash, scratches or wear to the leather seats I don't need to worry about it!
Appreciate 0
      06-16-2019, 11:20 AM   #7
AustinV
Second Lieutenant
AustinV's Avatar
Canada
112
Rep
236
Posts

Drives: BMW X5 40i (2019)
Join Date: May 2019
Location: Canada

iTrader: (0)

What about worn out breaks - do they look at it? Or let's say engine light is on for some unknown reason?
Appreciate 0
      06-16-2019, 03:46 PM   #8
youngdoc1
Private First Class
Canada
34
Rep
150
Posts

Drives: 2019 X4 M40i
Join Date: Jan 2012
Location: Toronto, Ontario

iTrader: (0)

If it's due for service, this has to be completed prior to return. I had a brake service due and I made an appointment to get it done the week before so it wouldn't be a flag. Check engine light would be something I'd get taken care of before returning.
Appreciate 0
      06-16-2019, 04:29 PM   #9
russelldav
456bhp for breakfast
russelldav's Avatar
Canada
425
Rep
913
Posts

Drives: 2019 X5 50i
Join Date: Oct 2013
Location: Vancouver, Canada

iTrader: (0)

Quote:
Originally Posted by youngdoc1 View Post
If it's due for service, this has to be completed prior to return. I had a brake service due and I made an appointment to get it done the week before so it wouldn't be a flag. Check engine light would be something I'd get taken care of before returning.
Scheduled service costs are included in the price in Canada for 4 years / 80km, although I guess they might want this complete in case of any hidden issues however if you're buying another bmw you don't need to worry as they will be more interested in securing the new sale than recovering costs on the car you hand back
Appreciate 0
      06-16-2019, 04:44 PM   #10
Stinkyxy
Lieutenant
152
Rep
458
Posts

Drives: X5
Join Date: Nov 2015
Location: Toronto

iTrader: (0)

Quote:
Originally Posted by russelldav View Post
Quote:
Originally Posted by youngdoc1 View Post
If it's due for service, this has to be completed prior to return. I had a brake service due and I made an appointment to get it done the week before so it wouldn't be a flag. Check engine light would be something I'd get taken care of before returning.
Scheduled service costs are included in the price in Canada for 4 years / 80km
Including warranty for check engine lights.
Although brakes are not covered.

On the other items, rim rash costs $150 per rim. If you use winter tires not likely you'll tear through the oem tires by 80k.
Appreciate 0
      06-16-2019, 08:08 PM   #11
AustinV
Second Lieutenant
AustinV's Avatar
Canada
112
Rep
236
Posts

Drives: BMW X5 40i (2019)
Join Date: May 2019
Location: Canada

iTrader: (0)

Quote:
Originally Posted by Stinkyxy View Post
Including warranty for check engine lights.
Although brakes are not covered.

On the other items, rim rash costs $150 per rim. If you use winter tires not likely you'll tear through the oem tires by 80k.
You mean they charge $150 per rim at lease turn?
Appreciate 0
      06-16-2019, 08:18 PM   #12
Aimster82
Lieutenant
223
Rep
598
Posts

Drives: 2018 X3 M40i 2019 BMW X5 5.0
Join Date: Apr 2018
Location: Virginia

iTrader: (0)

I returned my 3 series lease in January.

It took about 15 minutes. All I had to pay was $150 for a lost key.

I actually had two small dings on the bumper. Someone rear ended me. They didn't catch that.
Appreciate 0
      06-16-2019, 08:29 PM   #13
AustinV
Second Lieutenant
AustinV's Avatar
Canada
112
Rep
236
Posts

Drives: BMW X5 40i (2019)
Join Date: May 2019
Location: Canada

iTrader: (0)

Quote:
Originally Posted by Aimster82 View Post
I returned my 3 series lease in January.

It took about 15 minutes. All I had to pay was $150 for a lost key.

I actually had two small dings on the bumper. Someone rear ended me. They didn't catch that.
I guess it's often subject to some luck! I even think this lease protection insurance is just waste of money because even if tires do not pass, it's like $200 per tire and $800 is less than $1,400. Plus it's common to have a normal wear and tear on the car, otherwise it will be repaired through your normal insurance for something more serious.
Appreciate 0
      06-16-2019, 09:07 PM   #14
youngdoc1
Private First Class
Canada
34
Rep
150
Posts

Drives: 2019 X4 M40i
Join Date: Jan 2012
Location: Toronto, Ontario

iTrader: (0)

Quote:
Originally Posted by Stinkyxy View Post
Including warranty for check engine lights.
Although brakes are not covered.

On the other items, rim rash costs $150 per rim. If you use winter tires not likely you'll tear through the oem tires by 80k.
Sorry - it was a brake fluid service that was due (included in the 4yr/80k service). I think it's very unlikely you'll be due for brake pads by the end of the lease. Brakes are not covered in the included service... not sure if these would be covered in excess wear and tear (I assume it isn't).
Appreciate 0
      06-16-2019, 10:46 PM   #15
russelldav
456bhp for breakfast
russelldav's Avatar
Canada
425
Rep
913
Posts

Drives: 2019 X5 50i
Join Date: Oct 2013
Location: Vancouver, Canada

iTrader: (0)

Quote:
Originally Posted by AustinV View Post
Quote:
Originally Posted by Aimster82 View Post
I returned my 3 series lease in January.

It took about 15 minutes. All I had to pay was $150 for a lost key.

I actually had two small dings on the bumper. Someone rear ended me. They didn't catch that.
I guess it's often subject to some luck! I even think this lease protection insurance is just waste of money because even if tires do not pass, it's like $200 per tire and $800 is less than $1,400. Plus it's common to have a normal wear and tear on the car, otherwise it will be repaired through your normal insurance for something more serious.
I just brought 1x new tire it was $750CAD including tax and labour so not sure your prices are accurate. I didn't pay that thankfully (warranty claim through Continental). So four new tires could easily cost upwards of $2,000CAD or $1,500USD

The insurance covers you up to a further $7,500CAD of damage be that chips, scratches, damaged windshield etc.

If you can negotiate a good price it's definitely worth it not to worry during the lease about the sort of wear and tear that always happens.
Appreciate 0
      06-17-2019, 06:04 AM   #16
AustinV
Second Lieutenant
AustinV's Avatar
Canada
112
Rep
236
Posts

Drives: BMW X5 40i (2019)
Join Date: May 2019
Location: Canada

iTrader: (0)

Quote:
Originally Posted by russelldav View Post
I just brought 1x new tire it was $750CAD including tax and labour so not sure your prices are accurate. I didn't pay that thankfully (warranty claim through Continental). So four new tires could easily cost upwards of $2,000CAD or $1,500USD

The insurance covers you up to a further $7,500CAD of damage be that chips, scratches, damaged windshield etc.

If you can negotiate a good price it's definitely worth it not to worry during the lease about the sort of wear and tear that always happens.
I mean $200 lease return charge per tire. Of course this is not the new tire I'm referring to. Since you are not obligated to return car with brand new tires, hence they can't really charge you for the brand new tire. It's just a "penalty" charge for not passing certain return parameters. Please correct me if I'm wrong here, but this is what I found from other people's BMW return stories on the forums.
Appreciate 0
      06-18-2019, 05:57 PM   #17
Stinkyxy
Lieutenant
152
Rep
458
Posts

Drives: X5
Join Date: Nov 2015
Location: Toronto

iTrader: (0)

Quote:
Originally Posted by AustinV View Post
Quote:
Originally Posted by Stinkyxy View Post
Including warranty for check engine lights.
Although brakes are not covered.

On the other items, rim rash costs $150 per rim. If you use winter tires not likely you'll tear through the oem tires by 80k.
You mean they charge $150 per rim at lease turn?
Yes. If the damage exceeds a certain continuous length. Forget the length.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 09:50 AM.




xbimmers
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST