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      01-05-2009, 04:28 PM   #1
nissan
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Gonna be way over lease mileage..options?

Hey guys, I just hit 36k on my E92 yesterday and I'm on a 36k mi./3 yr. lease which ends in 12/09. It's my only car and I'm pretty sure I will be putting on at least another 15k mi. in '09. What are my options besides buying up more miles? This is the first time I've ever been over mileage on a lease, so I have no clue what's the ideal/more financially sound route to go in this situation. Figured I'd post here bc there are a couple CA's here. Thanks!
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      01-05-2009, 04:39 PM   #2
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Quote:
Originally Posted by nissan View Post
Hey guys, I just hit 36k on my E92 yesterday and I'm on a 36k mi./3 yr. lease which ends in 12/09. It's my only car and I'm pretty sure I will be putting on at least another 15k mi. in '09. What are my options besides buying up more miles? This is the first time I've ever been over mileage on a lease, so I have no clue what's the ideal/more financially sound route to go in this situation. Figured I'd post here bc there are a couple CA's here. Thanks!
Buy the car when your lease is up
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      01-05-2009, 04:51 PM   #3
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as long as you have 4+ months left on the lease you can buy them at .16 each instead of paying the .20 overmileage at end of lease.
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      01-05-2009, 05:00 PM   #4
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^ what he said.
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      01-05-2009, 05:19 PM   #5
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i wouold just buy the car out and then sell it if your not trying to keep it.... cuz your gonna be paying out of your ass for those extra 15,000 miles..... about $2,400 lol
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      01-05-2009, 05:25 PM   #6
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I bet you'll lose more money if you buy it out. With the way car values are dropping I would just pay the $2400, but purchasing the mileage ahead of time is a good idea.
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      01-05-2009, 05:26 PM   #7
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Get a new BMW. They may be hurting enough to allow the old lease to terminate...so long as you get a new BMW
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      01-05-2009, 05:26 PM   #8
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Quote:
Originally Posted by 328i View Post
I bet you'll lose more money if you buy it out. With the way car values are dropping I would just pay the $2400, but purchasing the mileage ahead of time is a good idea.
BMW adjusts payoffs accordingly for the drop in economic values.


Ex: one of my customers has a car with an original payoff of $32k. Its $23k now.
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      01-05-2009, 05:29 PM   #9
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Quote:
Originally Posted by AutoCouture View Post
BMW adjusts payoffs accordingly for the drop in economic values.


Ex: one of my customers has a car with an original payoff of $32k. Its $23k now.
I didn't know that, in that case it may be worth it. I did hear bmw had set residuals too high on some cars and were willing to negotiate since auction prices were so low. Is this the reason for it? Also do they do this during the lease term? I was looking to sell my car and asked what my lease buy out was and it was about $4,000-5,000 over market value.
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      01-05-2009, 05:30 PM   #10
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They only adjust when there are 3 payments or less left on the account
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      01-05-2009, 06:12 PM   #11
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Quote:
Originally Posted by AutoCouture View Post
They only adjust when there are 3 payments or less left on the account
I see, thanks for the info. I'll still be contacting you when my father is ready to buy a 5er, he's decided to wait for now.
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      01-05-2009, 06:25 PM   #12
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Quote:
Originally Posted by nissan View Post
Hey guys, I just hit 36k on my E92 yesterday and I'm on a 36k mi./3 yr. lease which ends in 12/09. It's my only car and I'm pretty sure I will be putting on at least another 15k mi. in '09. What are my options besides buying up more miles? This is the first time I've ever been over mileage on a lease, so I have no clue what's the ideal/more financially sound route to go in this situation. Figured I'd post here bc there are a couple CA's here. Thanks!


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      01-05-2009, 06:33 PM   #13
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Quote:
Originally Posted by AutoCouture View Post
as long as you have 4+ months left on the lease you can buy them at .16 each instead of paying the .20 overmileage at end of lease.
as a bmw salesman this is the cheapest option do not buy the car out, that will cost you triple!
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      01-05-2009, 07:56 PM   #14
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Quote:
Originally Posted by mwarsh1 View Post
as a bmw salesman this is the cheapest option do not buy the car out, that will cost you triple!
How do you figure triple? Have you seen MMRs lately?? They're CRAZY low
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      01-05-2009, 08:20 PM   #15
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Hmmm a gallon of gas, a match and a open lot under the pulaski skyway???
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      01-05-2009, 10:42 PM   #16
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Hmmm a gallon of gas, a match and a open lot under the pulaski skyway???
LMAO
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      01-05-2009, 10:44 PM   #17
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Hmmm a gallon of gas, a match and a open lot under the pulaski skyway???
BWHAHAHAAA... in the Newark Multiplex parking lot
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      01-05-2009, 11:05 PM   #18
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Ahhh so thats where you 2 go to the movie's???
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BWHAHAHAAA... in the Newark Multiplex parking lot
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      01-05-2009, 11:11 PM   #19
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Ahhh so thats where you 2 go to the movie's???
OHHHHHH.... so that's how it is huh?

Multiplex has been shut down for years dicky!!
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      01-05-2009, 11:13 PM   #20
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Ahhh so you 2 park???
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OHHHHHH.... so that's how it is huh?

Multiplex has been shut down for years dicky!!
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      01-06-2009, 12:03 AM   #21
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Ahhh so you 2 park???
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      01-06-2009, 12:04 AM   #22
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Hmmm a gallon of gas, a match and a open lot under the pulaski skyway???
haha is that what happen to your E46?
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