BMW Financial Services
Subsidiary of BMW of North America, LLC (BMW Group)
bmwusa.com/financial-services.htmlWhat to do when a BMW Financial Services account holder dies
Report the death to BMW Financial Services Customer Service at 1-800-578-5000
Notifying BMW Financial Services of a death is not a claim for money — it is the step that stops the account, fixes the balance owed as of the date of death, and puts BMW Financial Services on notice as a creditor of the estate. BMW Financial Services Customer Service (1-800-578-5000) handles it.
Gather the account holder's full name, date of birth, and any known account or policy numbers before contacting BMW Financial Services.
Death claim process
To file a claim after an account holder's death, here is what BMW Financial Services requires:
Filing a claim
- Have the death certificate for the deceased borrower or lessee and the BMW Financial Services account number ready
- Written notice can be sent through the Secure Message Center after logging in to My Account
- After payoff, BMW Financial Services releases its lien and the title under a policy that differs by state
- For the title release timeline in the decedent's state, call 1-800-959-4269 (Monday-Thursday 9 AM-9 PM ET, Friday 9 AM-6 PM ET)
- Schedule the pre-inspection through the originating BMW Center; some centers route it to BMW's third-party inspection company
- Make any excess wear and tear repairs, then upload the itemized paid receipts through "Upload Repair Receipts" to have excess wear charges removed
- At the return appointment, the person returning the vehicle signs a Federal Odometer Statement
- Return all keys, manuals and accessories that came with the vehicle
- The Vehicle Return Statement showing any balance due or refund posts to My BMW and is mailed about two to three weeks after the return
Required Documents
- Keys, manuals and accessories the vehicle originally came with, when returning a leased vehicle
- Federal Odometer Statement, when returning a leased vehicleSigned at the return appointment by the person returning the vehicle.
- Itemized paid repair receipts, for excess wear and tear items repaired after the pre-inspection of a leased vehicleUploaded through "Upload Repair Receipts" to have excess wear charges removed.
- The vehicle VIN and the assuming party's credit application, for a lease assumption
What happens to each kind of account3
- Loan
BMW Financial Services charges no prepayment penalty on retail financing contracts and does not negotiate payoffs or residual values. After payoff it releases its lien and the title under a title release policy that differs by state.1
A BMW Financial Services auto loan or lease is a debt that continues to accrue. If payments are missed, BMW Financial Services may report the default to a credit reporting agency and repossess the financed or leased vehicle.1
BMW's published assumption application covers leases, not retail installment loans, so an heir who wants to keep a financed vehicle pays off the loan or refinances it in their own name through their own lender.2
- Vehicle lease
The estate can return the vehicle or buy it at the contract payoff. Only the BMW Center where the contract originated is required to accept a return, though another authorized center may accept it if willing.1
BMW Financial Services may extend a lease up to six months beyond the contract maturity date, subject to limitations and eligibility.1
A qualified party can apply to take over the lease through the VIN-based lease-assumption application.2
- Debt protection, GAP or service contract
Ask BMW Financial Services whether GAP, Lease End Protection or another BMW Ultimate Protection product applies. GAP may help cover the difference if the vehicle is a total loss and insurance pays less than is owed. Lease End Protection covers excess wear and use charges at lease end and is not sold in New York.1
State requirements BMW Financial Services statesConnecticut, Massachusetts, Rhode Island
- Connecticut
Send a copy of the registration cancellation receipt or transfer to BMW Financial Services, Attn: Tax Dept, P.O. Box 3608, Dublin, OH 43016-0306 to reduce liability for future personal property or vehicle excise tax assessments.1
- Massachusetts
Send a copy of the registration cancellation receipt or transfer to BMW Financial Services, Attn: Tax Dept, P.O. Box 3608, Dublin, OH 43016-0306 to reduce liability for future personal property or vehicle excise tax assessments.1
- Rhode Island
Send a copy of the registration cancellation receipt or transfer to BMW Financial Services, Attn: Tax Dept, P.O. Box 3608, Dublin, OH 43016-0306 to reduce liability for future personal property or vehicle excise tax assessments.1
Accounts handled elsewhere2
- MINI Financial Services
MINI accounts1
Phone: 1-866-646-4463
Hours: Monday-Thursday 9:00 AM-9:00 PM ET; Friday 9:00 AM-6:00 PM ET
Mailing address: MINI Financial Services, Customer Service, P.O. Box 3608, Dublin, OH 43016-0306. Loan and lease payments and payoffs: P.O. Box 78103, Phoenix, AZ 85062-8103
- BMW Financial Services lease line
Lease-end, lease-return, inspection, mileage and title-release questions1
Phone: 1-800-959-4269
Hours: Monday-Thursday 9:00 AM-9:00 PM ET; Friday 9:00 AM-6:00 PM ET
What BMW Financial Services provides to the estate1
- Payoff statement
The exact payoff, or the lease purchase amount, is shown under "Payoff Information" on the Account Details page in My Account, or given by Customer Service.3
Not in BMW Financial Services's published guidance3
- A procedure for reporting a death
- A claim form
- How long a claim takes
BMW Financial Services Customer Service can be reached by phone at 1-800-578-5000 for questions throughout the claims process.
Sources
Data sourced from BMW Financial Services primary sources (9 pages reviewed). How we research.
BMW Financial Services death claims support
BMW Financial Services Customer Service (Deceased Account Holder)
Phone
Lease-end, lease return and title release
MINI Financial Services (deceased MINI account)
Hours
Mailing address
Website
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