Here is what I was told today by BMW financial services:
Finance accounts:
Presently offering the opportunity to defer two payments - payments will be added to the end of your existing contract and you will still accrue interest for the months deferred. Your contract will be extended by the number of payments you deferred.
Lease accounts (at least mine which is up in June):
Similar to finance....presently up to two lease payments can be deferred and they will become due at the time your lease is up however your lease term is not extended. They act like a balloon payment payable at the end of your lease term. That said you can of course make these payments anytime before the end of your lease if you wish.
Disclaimer:
This is simply what was shared with me today by the rep I happened to get on the phone