10-28-2013, 04:40 PM | #1 |
Captain
98
Rep 693
Posts |
10k miles plus $0.16 per miles or 12k miles?
I'm debating....
Should I go with 10k miles lease and pay $0.16 per miles or just go with 12k lease? When I did the calculations, with my monthly payment, it's actually cheaper for me to go with 10k and $0.16 per miles (36 month lease and $0.16 per miles for 6k miles) vs. 12k miles lease for 36 months lease. This holds true for 12k miles plus $0.16 per miles for 9k additional miles vs. 15k mile lease for 36 month lease. The savings aren't huge, but a dollar in my pocket is a dollar in my pocket. Are there any other charges that go on top of $0.16 per mile charge? BTW, for those of you who are wondering the same thing, you must report to the dealer that you will go over the allotted mileage minimum 4 months prior to lease end to get the $0.16 per mile charge. If not, I believe the dealer will charge you something like $0.26 per additional miles at the lease return. Z. Last edited by Zipforia; 10-28-2013 at 04:55 PM.. |
10-28-2013, 04:46 PM | #2 |
Lieutenant
165
Rep 537
Posts |
I currently have 10k miles leasing and I will return the car with 4k miles over. I am getting a 12k miles on the new one. As far as cost, if you pay the extra mileage before you return the car (according to the dealer even couple hours before returning it) it will cost $0.16/mile otherwise it will be $0.20/mile.
|
Appreciate
0
|
10-28-2013, 04:58 PM | #3 | |
Captain
98
Rep 693
Posts |
Quote:
Also, thanks for the clarification on the the time frame and cost. Z. |
|
Appreciate
0
|
10-28-2013, 06:21 PM | #4 |
Brigadier General
547
Rep 3,307
Posts |
No extra fees, just the .16/mile + sales tax. To me, unless you're 100% sure you'll use 12k, there's no reason to pay for it up front. With other brands, it may make sense to buy up front.But with the way BMW let's you do it for only .16 and they give you to damn near the end of your lease to do it? No brainer... You can always add miles, but you can never get a refund for what you don't use (at least not yet . I think some brands do offer that now).
|
Appreciate
0
|
10-28-2013, 06:27 PM | #5 | |
Brigadier General
547
Rep 3,307
Posts |
Quote:
What does it mean to buy more Lease miles? More miles = more driving fun. So, you think that you might go over the number of miles in your lease contract? BMW Financial Services allows you to buy additional miles today, for up to a 20% savings, and enjoy more driving fun now without paying more later. Why should I buy more miles? Enjoy more miles of exhilarating driving behind the wheel of your BMW. Why worry about having to pay at the end of your lease for going over your allotted miles? Use the mileage calculator to estimate the number of additional miles you want to enjoy in your BMW and see how much you will save by purchasing them now. What are the benefits? Cost Savings - Save up to 20 percent on additional lease miles by purchasing them ahead of time Flexibility - Additional miles can be purchased in one lump sum payment, or the total cost may be spread out over the remaining monthly payments. It's Easy! Everything you need to complete this process is available right here on the My BMW website. Don't delay! This service is available to you until you reach 4 months from the end of your lease. So purchase your additional miles today! Last edited by chrisny; 10-28-2013 at 06:34 PM.. |
|
Appreciate
0
|
10-28-2013, 08:52 PM | #6 | |
-Frank
504
Rep 692
Posts |
Quote:
Chris, I spoke with a Rep of BMW F.S the other day and he told me you can buy them up until the week before you return lease... |
|
Appreciate
0
|
10-28-2013, 10:07 PM | #7 |
Lieutenant
165
Rep 537
Posts |
Because I know I will drive more than 10k/year. As kids grow up you have to drive them around to sports events, etc... and I already see that in my current lease. Thus, 12k will suit our needs. Also, you can buy miles at $0.16/mile before you turn the car in. There is no need to buy 4 months in advance.
|
Appreciate
0
|
10-28-2013, 10:16 PM | #8 | ||
Brigadier General
547
Rep 3,307
Posts |
Quote:
|
||
Appreciate
0
|
10-28-2013, 10:21 PM | #9 | |
Captain
98
Rep 693
Posts |
Quote:
Z. |
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|