|
|
|
|
|
|
BMW Garage | BMW Meets | Register | Today's Posts | Search |
|
BMW 3-Series (E90 E92) Forum
>
Covid affect on lease miles
|
|
06-16-2020, 05:31 PM | #1 |
Private First Class
128
Rep 186
Posts |
Covid affect on lease miles
Anyone else wayyyyy under their miles due to isolation and work from home? I feel like I never drive anymore. I'm very under my projected lease mileage at this point I could probably drive cross country and be fine.
__________________
Zandvoort ///M2
My Exes: E36 325i, E46 330i, F30 328i, G20 M340i |
06-16-2020, 05:38 PM | #2 |
Brigadier General
9278
Rep 4,124
Posts |
Having never leased this might be a stupid question but will the residual/buyout at the end of the lease be adjusted higher if you have lower than expected miles?
__________________
2021 X3 M40i
1974 2002tii, Inka, 5 sp manual BMWCCA # 327475 |
Appreciate
0
|
06-16-2020, 06:10 PM | #4 |
Lieutenant Colonel
4647
Rep 1,929
Posts
Drives: Here and There
Join Date: Jul 2013
Location: North Georgia Mountains
iTrader: (1)
Garage List 98 Lexus LS400 [10.00]
16 Toyota Land Cruiser [10.00] 97 Toyota Land Cruiser [8.33] 11 BMW E90 M3 Stripper [10.00] |
Is it proportional to the $/mile they would charge you if you went over? Say if it costs you $0.25/mile over your mileage cap, would you get $0.25/mile for each unused mile under that cap?
|
Appreciate
0
|
06-16-2020, 06:13 PM | #5 |
Banned
3322
Rep 8,083
Posts |
i have leased before and swapped it away, i have another lease right now, andit goes back March of 21'. I'm alotted 30k, and i'm at 11k right now. I'm genuinely curious as to what, if anything i'll get back. I'm not expecting much.
|
Appreciate
0
|
06-16-2020, 06:43 PM | #6 |
Colonel
2100
Rep 2,850
Posts
Drives: F33 430 and F39 M35i
Join Date: Feb 2009
Location: Cleveland, OH
|
wish i could lease. i average 15k miles a year. minimum. covid or not. gotta work everyday.
bought my daughter an old car in february with 94k miles on it just before covid hit. i just checked and she's at 99k miles. i was like wtf? no school, no work but you still put on 5k miles??!!?!? |
Appreciate
0
|
06-16-2020, 06:52 PM | #7 |
Colonel
772
Rep 2,361
Posts |
I returned my F80 a few weeks ago and I got $500 credit applied to another account. About 5K under miles
Just ask BMWFS, they will tell you how much credit you get if you come under a certain %. |
Appreciate
0
|
06-16-2020, 06:52 PM | #8 |
Banned
6651
Rep 4,143
Posts
Drives: '18 M2 6MT
Join Date: Sep 2019
Location: Missouri
|
That's awesome. I remember my first couple of leases, I had to buy the car and the resell it because the companies would not reimburse me for miles not used. Cool that BMW gives you that market value back.
|
Appreciate
1
quick6750.50 |
06-16-2020, 06:59 PM | #9 |
Captain
751
Rep 704
Posts |
I actually can"t recall save for I received a check-albeit small when turning in my 2015 M5. You probably won"t get rich-I think it was less than $300.00 but beats a bill!
|
Appreciate
0
|
06-16-2020, 07:04 PM | #10 |
Lieutenant General
3790
Rep 10,545
Posts |
No.
__________________
"Drive more, worry less. "
435i, MPPK, MPE, M-Sport Line |
Appreciate
0
|
06-16-2020, 07:05 PM | #11 |
Lieutenant General
3790
Rep 10,545
Posts |
My wife leases and yes she's under miles due to the pandemic.
__________________
"Drive more, worry less. "
435i, MPPK, MPE, M-Sport Line |
Appreciate
0
|
06-16-2020, 07:26 PM | #12 |
Lieutenant Colonel
5834
Rep 1,976
Posts |
I'm too cheap to lease, but I definitely didn't think you got any $$ back for unused miles. I thought you just couldn't go over. Progressive gave me like $50 back whoopdeedoo considering I've driven probably under 300 miles in the last 3-4 months. Most of those on 2 longer trips.
|
Appreciate
0
|
06-16-2020, 08:06 PM | #13 | |
Private First Class
135
Rep 173
Posts |
Quote:
|
|
Appreciate
0
|
06-16-2020, 09:10 PM | #14 |
Brigadier General
11531
Rep 4,857
Posts |
Sounds like BMW is currently giving discounts for leases at the end of their terms:
https://f80.bimmerpost.com/forums/sh....php?t=1711966 So if you have low miles and they are giving a discount on the residual when the lease is up, buying it out might not be a bad option if you like the car. I’m certainly hoping they have an incentive for my buyout next year.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82 |
Appreciate
1
BimmerDimmer61473.00 |
06-16-2020, 09:51 PM | #15 |
First Lieutenant
3178
Rep 320
Posts |
I'm currently under 1000miles/mth. The only reason it's that high is because I've driven to the beach 3 times and it's almost 500 miles round trip. I'm only 6 months into my lease so plenty of time to make up those miles over the next few years.
I also kept my beater car and drive that for work 95% of the time so that keeps miles off. |
Appreciate
0
|
06-16-2020, 10:28 PM | #16 | |
Captain
1473
Rep 826
Posts |
Quote:
|
|
Appreciate
0
|
06-17-2020, 04:05 PM | #17 | ||
First Lieutenant
3178
Rep 320
Posts |
Quote:
I do so much work in the city & the streets here are horrible. I also have to do a lot of garage and on street parking so I've just kept driving it. It's got a nice electrical short & thinks the door is open so at night you get a different kind of ambient lighting |
||
Appreciate
2
BimmerDimmer61473.00 G35POPPEDMYCHERRY5001.00 |
06-17-2020, 04:35 PM | #18 | |||
Captain
1473
Rep 826
Posts |
Quote:
Would consider a fusion also. |
|||
Appreciate
0
|
06-17-2020, 04:46 PM | #19 | ||||
First Lieutenant
3178
Rep 320
Posts |
Quote:
I had a Ford Fusion for a company car and I liked it. I wouldn't own one as my only car because it's not my style. Having this has been nice because the X5 stays clean and doesn't get cluttered with my work shit even though it's all in bins. It's also not getting beat to shit & back. In hindsight, I would have gone with less miles on my lease but I wasn't sure how long I was going to keep this. |
||||
Appreciate
0
|
06-17-2020, 04:51 PM | #20 |
Big Beaver Smile
2138
Rep 3,799
Posts |
I've been working from home since Mid February and every morning after I shower I go for 20-25 mile commute - from my garage and back to my garage before I sit down to work for the day. I would miss driving and don't really want to spend an entire day never leaving my house.
I've been putting on miles, but not as many as I used to because there's really no place to go other than my "fake commute"
__________________
______________________________________________
Current- '21 430 , '19 911, 07 M6 ,'17 Jeep Wrangler, "23 Bronco OBXluxsquatch |
Appreciate
1
MKSixer34102.00 |
06-17-2020, 05:26 PM | #21 | |
Private First Class
128
Rep 186
Posts |
Quote:
__________________
Zandvoort ///M2
My Exes: E36 325i, E46 330i, F30 328i, G20 M340i |
|
06-17-2020, 07:07 PM | #22 |
Brigadier General
3316
Rep 3,268
Posts |
Back when I was rocking the F30 I had a 15k/year lease. My work moved to a place closer to my house which meant when I gave the car back it basically only had 33K on it out of the 45k I paid for. They ended up lowering the cap cost of my next car by $300. Briefly thought about buying and reselling it, but this was during the days of very aggressive lease rates. I think my F30 was 62% residual for 15k miles. In the end, the car was still worth less on the open market than the buyout value.
As for the fake commute, I've been doing this too. I can't just sit around the house all day. I need a change of scenery to break apart the day. |
Appreciate
0
|
Bookmarks |
|
|