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      11-09-2010, 07:09 PM   #1
sherdog
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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.
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      11-09-2010, 07:46 PM   #2
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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.
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      11-09-2010, 08:30 PM   #3
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i'll take it for a road trip! =)
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      11-09-2010, 11:24 PM   #4
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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.
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      11-10-2010, 01:34 AM   #5
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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.
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      11-10-2010, 09:19 AM   #6
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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.
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      11-10-2010, 10:47 AM   #7
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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.
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      11-10-2010, 10:50 AM   #8
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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.
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      11-10-2010, 02:09 PM   #9
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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
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      11-10-2010, 02:39 PM   #10
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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.
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      11-10-2010, 02:43 PM   #11
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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
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      11-10-2010, 03:35 PM   #12
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this is why you do 10k, and then add if needed

unless you know you drive a lot
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      11-10-2010, 06:41 PM   #13
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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.
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      11-10-2010, 06:47 PM   #14
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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)
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      11-13-2010, 05:55 AM   #15
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Quote:
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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
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      11-13-2010, 06:00 AM   #16
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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.
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      11-13-2010, 09:28 AM   #17
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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.
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      11-13-2010, 11:04 AM   #18
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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
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