Quote:
Originally Posted by sean.witlock
Hey guys, long time reader, first time poster! Not sure if this is the correct Forum, but I have a quick question about my lease before I return it. I have a 3-year/30,000 mile lease on a 2014 BMW 328i M-Sport which I need to return by December 17 2017.
Question is: I only put 20,000 miles on it, are there ANY incentives, benefits or or leverage I can get from the fact my mileage is so low?
It seems to me that I paid for three years of a car that was only really used for 2... Do I get any incentives or money back in any way?? Don't think there is but thought I would ask.
I'm not sure what I'll be doing for my next car, I would like to go with BMW again (been with them for 6+ years with flawless payment history). However I really would like to save some money, and am looking to downgrade a bit in terms of car to get a lower monthly (Currently $360 w/ 2k down). What do you recommend?
Do I:
a) Extend the lease of my current car by a year? Is this even allowed? Encouraged?
b) Get into a new BMW? Again, returning my car with this low mileage, do I have any leverage at the dealer at all?
c) Purchase the car? This is something I'd rather not do at all, especially since the maintenance runs out in a year. Never felt that owning was a good bet with these kinds of cars.
Thanks again, long-time reader, first-time poster! Thanks for having me on here!  |
1.It is my understanding that BMW Financial will only extend lease by 1 or 2 months unless you have a new build ordered and may do upto 6 months.
2. If you lease/buy again, BMW has an incentive for lower miles upto 25% of the contracted mileage, I believe the max is like $300 crediting.
3. Do not pay residual, dealer can CPO is you buy your own car if desired.