E90Post
 


Horizon LED
 
BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > General E90 Sedan / E91 Wagon / E92 Coupe / E93 Cabrio > Lowering Your Lease Mileage



Reply
 
Thread Tools Search this Thread
      11-09-2010, 07:09 PM   #1
sherdog
Enlisted Member
0
Rep
47
Posts

 
Drives: WTB 335i
Join Date: May 2009
Location: CT

iTrader: (0)

Lowering Your Lease Mileage

Does anyone have any experience with this?
I have 12K a year on my lease but i'm only driving around 9K.

Does BMW allow you to lower the miles on a lease?

Thanks guys.
Appreciate 0
      11-09-2010, 07:46 PM   #2
jopa489
BMW/Detailing Addict
jopa489's Avatar
United_States
71
Rep
6,561
Posts

 
Drives: Estoril F30 335i 6MT
Join Date: Mar 2009
Location: New England

iTrader: (8)

Nope. Take a road trip.

You're not low enough to warrant more drastic action solely because of the miles (such as buying the car after the lease). You might still want to do this, but in my opinion it's not worth it for being 3k under per year. Next time lease with 10k, or just enjoy the buffer you have with 12k.
__________________

Appreciate 0
      11-09-2010, 08:30 PM   #3
Coolieman1220
Banned
Trinidad_and_tobago
30
Rep
1,770
Posts

 
Drives: 2010 335d
Join Date: Jul 2010
Location: New York City

iTrader: (0)

i'll take it for a road trip! =)
Appreciate 0
      11-09-2010, 11:24 PM   #4
dtc100
Lieutenant Colonel
18
Rep
1,523
Posts

 
Drives: 2011 E90 328i 6AT non-sport
Join Date: Sep 2010
Location: Norcal

iTrader: (0)

I know most banks will allow you to extend the lease by up to a certain amount of extra months, keeping the same lease terms, what I don't know is if you can ask them to reduce the monthly payment during the extended lease period in exchange for not giving you any extra mileage allowance.
Appreciate 0
      11-10-2010, 01:34 AM   #5
sherdog
Enlisted Member
0
Rep
47
Posts

 
Drives: WTB 335i
Join Date: May 2009
Location: CT

iTrader: (0)

Thanks guys,
I kinda figured that...thought maybe since they let you purchase extra miles there might be a chance you could take some off...oh well. Looks like i gotta take her for some more driving

Thanks again.
Appreciate 0
      11-10-2010, 09:19 AM   #6
dtc100
Lieutenant Colonel
18
Rep
1,523
Posts

 
Drives: 2011 E90 328i 6AT non-sport
Join Date: Sep 2010
Location: Norcal

iTrader: (0)

Quote:
Originally Posted by sherdog View Post
Thanks guys,
I kinda figured that...thought maybe since they let you purchase extra miles there might be a chance you could take some off...oh well. Looks like i gotta take her for some more driving

Thanks again.
There is always the option of having someone else taking over the lease. If the car has very little miles it may be appealing to the others to take over your lease payment rather than lease a new one. It is a hassle and there is a fee to do it, but an option is an option.

For example, if after one year the car only has 9k miles on a 45k mile 3 yr lease deal, if the lease payment is competitive and the car is what I would lease anyway, I wouldn't mind paying a fee to take over the lease if I know I need to drive 18k miles a year. You can then go lease a car for 10k a year.
Appreciate 0
      11-10-2010, 10:47 AM   #7
EVTee
Private First Class
Canada
3
Rep
177
Posts

 
Drives: 2010 335d
Join Date: Mar 2010
Location: Coquitlam, BC

iTrader: (0)

My previous car was 20k kms under mileage. I had a 3 year lease for 60k kms so obviously I'm quite a bit under. The dealer was pretty flexible and told me that I could find a buyer to buyout the car since the buyout was way lower than market value. I posted the car on craigslist and made about 3.5k from the sale. I brought the buyer to the dealer and he paid the buyout price to the dealer and paid me the difference. At the end of the day it paid almost all the interest. So I guess it was a 3 year lease with no interest.
__________________
Appreciate 0
      11-10-2010, 10:50 AM   #8
Michael Schott
Major
15
Rep
1,479
Posts

 
Drives: 2011 328i sedan
Join Date: Dec 2007
Location: Farmington Hills, MI

iTrader: (0)

Being under mileage at the end of the lease can be a benefit. It will allow some credit towards any damage charges at turn in.
Appreciate 0
      11-10-2010, 02:09 PM   #9
eaglesfan83
FIRE TOEZ!!!!!
eaglesfan83's Avatar
25
Rep
1,208
Posts

 
Drives: Pending Order
Join Date: Jan 2009
Location: Honolulu, HI

iTrader: (6)

Garage List
So being under miles they will charge less for repairs such as a scratch or perhaps a bubble in a tire? Never heard that before
__________________
SOLD 2009 E92 328i AW/BL
SOLD 2010 E93 335i AW/CR
SOLD 2010 Audi S4
Pending- Something New and BMW
Appreciate 0
      11-10-2010, 02:39 PM   #10
Michael Schott
Major
15
Rep
1,479
Posts

 
Drives: 2011 328i sedan
Join Date: Dec 2007
Location: Farmington Hills, MI

iTrader: (0)

Quote:
Originally Posted by eaglesfan83 View Post
So being under miles they will charge less for repairs such as a scratch or perhaps a bubble in a tire? Never heard that before
Ask your dealer. I'm about to turn in my 2008 328i e90. When I do it will be about 5000 miles under the lease agreement. The inspector at the dealer told me this will help mitigate some of the damage on the car. It may help that I am leasing another 328i. It looks like I will get about a $400.00 credit.
Appreciate 0
      11-10-2010, 02:43 PM   #11
Nr!qUe
Captain
Nr!qUe's Avatar
United_States
21
Rep
974
Posts

 
Drives: 2009 E90 LCI 328i 6MT
Join Date: Nov 2008
Location: Miami, FL

iTrader: (3)

Send a message via MSN to Nr!qUe Send a message via Skype™ to Nr!qUe
im trying to find a way to put less miles on my car. In january it'll be 2 years that i have my car and i currently have 38k miles :S
__________________
2009 BMW E90 328i | Xenons | MT | Space Gray | Beige-ette | CF Fabric Trim | iPod/USB | 20% Tints | Euro-Plate | Rear Fog Switch Lego Mod | Painted Reflectors | Performance Short-shift Kit | Style 197 Wheels | OEM Sport Suspension | OEM Trunk Spoiler | Pioneer AVH4400BH -DVD
Appreciate 0
      11-10-2010, 03:35 PM   #12
persian54
Lieutenant General
persian54's Avatar
United_States
283
Rep
15,809
Posts

 
Drives: SL550. Prev: E93 M3/335i/Z435i
Join Date: Jun 2009
Location: The Valley, SoCal

iTrader: (291)

this is why you do 10k, and then add if needed

unless you know you drive a lot
Appreciate 0
      11-10-2010, 06:41 PM   #13
jopa489
BMW/Detailing Addict
jopa489's Avatar
United_States
71
Rep
6,561
Posts

 
Drives: Estoril F30 335i 6MT
Join Date: Mar 2009
Location: New England

iTrader: (8)

Quote:
Originally Posted by persian54 View Post
this is why you do 10k, and then add if needed

unless you know you drive a lot
That doesn't make sense at all. You're paying much more per mile that way. You lease with the appropriate amount of miles you need, that's pretty much all there is to it.
__________________

Appreciate 0
      11-10-2010, 06:47 PM   #14
lopealle
Resident Black Guy
lopealle's Avatar
Zimbabwe
63
Rep
2,245
Posts

 
Drives: Lion
Join Date: May 2009
Location: Federal Way, WA

iTrader: (2)

Garage List
2006 M5  [5.00]
i got srewed on lease agreement. i was told i had 15k and i ended only having 10 so im like 13k over. should have read my paper work over instead of letting my wife do it (SIGH)
Appreciate 0
      11-13-2010, 05:55 AM   #15
persian54
Lieutenant General
persian54's Avatar
United_States
283
Rep
15,809
Posts

 
Drives: SL550. Prev: E93 M3/335i/Z435i
Join Date: Jun 2009
Location: The Valley, SoCal

iTrader: (291)

Quote:
Originally Posted by jopa489 View Post
That doesn't make sense at all. You're paying much more per mile that way. You lease with the appropriate amount of miles you need, that's pretty much all there is to it.
Depends on the contract agreement.

I remember speaking with my dealer when I was considering leasing my e93 a year and a half ago, and he mentioned that whether I buy the miles no at signing, or before lease end, it's the same price.
However, I'd have to buy those extra miles 3 months prior to lease end.
If I were to wait until the end date, then I would indeed pay a premium.

Now, I didn't lease the e93 but financed it, so I never looked into the contract in depth.
I just figured he didn't like/make a mistake.

I could very well be wrong.

If I remember right, the price to add miles on my Z4 lease transfer is .16/mile.
I'd have to double check to confirm though.

So, if i was given wrong information by my dealer... then well that would just plain suck
Appreciate 0
      11-13-2010, 06:00 AM   #16
michaelthepsycho
Lieutenant Colonel
michaelthepsycho's Avatar
Taiwan
39
Rep
1,632
Posts

 
Drives: 11 Montego Blue E90 335i Step
Join Date: May 2009
Location: CA

iTrader: (4)

Quote:
Originally Posted by lopealle View Post
i got srewed on lease agreement. i was told i had 15k and i ended only having 10 so im like 13k over. should have read my paper work over instead of letting my wife do it (SIGH)
Heehee, and women are bitching when they don't get "respected" when car-shopping. There you go.
__________________
Former car
2011 BMW 335i Step - Montego Blue / Chestnut Brown
Appreciate 0
      11-13-2010, 09:28 AM   #17
dtc100
Lieutenant Colonel
18
Rep
1,523
Posts

 
Drives: 2011 E90 328i 6AT non-sport
Join Date: Sep 2010
Location: Norcal

iTrader: (0)

Quote:
Originally Posted by persian54 View Post
Depends on the contract agreement.

I remember speaking with my dealer when I was considering leasing my e93 a year and a half ago, and he mentioned that whether I buy the miles no at signing, or before lease end, it's the same price.
However, I'd have to buy those extra miles 3 months prior to lease end.
If I were to wait until the end date, then I would indeed pay a premium.

Now, I didn't lease the e93 but financed it, so I never looked into the contract in depth.
I just figured he didn't like/make a mistake.

I could very well be wrong.

If I remember right, the price to add miles on my Z4 lease transfer is .16/mile.
I'd have to double check to confirm though.

So, if i was given wrong information by my dealer... then well that would just plain suck
To buy additional miles before lease end you get a discount, but still the rate can be as much as twice what you can get at the lease signing.

For a $40k BMW, the residual difference between 15k and 12k is 2% I think, could be 3%. Use 2% it is $0.09 per additional mile, 3% $0.13.

Penalty for miles over is $0.20/mile.
Appreciate 0
      11-13-2010, 11:04 AM   #18
FadyDizzle
Private
4
Rep
92
Posts

 
Drives: -
Join Date: Sep 2010
Location: NJ

iTrader: (0)

Not that this helps the original poster at all, but I'm on a 15k lease and gonna end up buying an avg of 5k mi a yr at my current rate (haven't received the car yet, but from my current work arrangements). Wish I only could get by w/ a 10 or 12k lease
Appreciate 0
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
Forum Jump


All times are GMT -5. The time now is 04:15 AM.




e90post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
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