[shanetoast]

When returning your lease, how many miles did you go over and have it not be an issue if you got into another BMW? I already know I'm going to go over and get back into another M after. My dealer told me that they would wave my fee's if I got back into another BMW.

Any help would be great!

Thanks

[s2k750]

From my experience they get paid one way or another. I've been over with an Audi almost 8k miles and they didn't charge me upfront. The deal I got on the next car wasn't as good as can be, but it was still half the cost if I paid cash and moved to another brand.

Another lease with Mercedes was over only 800 miles and they let it slide.

[slavearm]

I generally just buy the car and resell it. Tends to net me way more money. Especially if you leased it early when the residuals were like 56%. I netted almost 10k on my 2008 like that and 7k on my 2011.

[GrussGott]

Originally Posted by slavearm

I generally just buy the car and resell it. Tends to net me way more money. Especially if you leased it early when the residuals were like 56%. I netted almost 10k on my 2008 like that and 7k on my 2011.

gawd DAMN now THIS is what I'm talkin about. you lease to control risk and buy and resell if the market is right.

financial baller.

[BMV///M3]

Originally Posted by slavearm

I generally just buy the car and resell it. Tends to net me way more money. Especially if you leased it early when the residuals were like 56%. I netted almost 10k on my 2008 like that and 7k on my 2011.

Smart man, never even thought of this. I will be certain to review this as an option when the time comes.

[Nachbar]

Originally Posted by BV335

Smart man, never even thought of this. I will be certain to review this as an option when the time comes.

Did this two times. The best win was with a Porsche GT3 (7 Years ago).

[blloydtbird]

Leased my F80 in June of 2015 (ED). With zero down and 1K over ED invoice, I have some $4,000 in equity based upon trade in values, $6,000 retail. If this holds consistent, I will sell before turning in without question.

[slavearm]

Originally Posted by GrussGott

gawd DAMN now THIS is what I'm talkin about. you lease to control risk and buy and resell if the market is right.

financial baller.

True dat. Rep city b!7¢#, rep rep city b!7¢#!

In all seriousness, I am glad you got it. I explain that to people probably 3-4 times a year and the amount that get it is less than 25%.

[mercedesc63]

I just leased my car 1 month ago and I kind of decided against thinking about this topic due to the car being so new.


But... I have been considering this since day 1 and I might just cut the car loose after 2 years via trade in if they take it back free. I've even heard it can be as easy as calling BMW FS and asking them if they could take the car back.

[OutlawX3M]

Originally Posted by shanetoast

When returning your lease, how many miles did you go over and have it not be an issue if you got into another BMW? I already know I'm going to go over and get back into another M after. My dealer told me that they would wave my fee's if I got back into another BMW.

Any help would be great!

Thanks

Just an FYI:
I haven't experienced this with BMW but with MB, the previous ML my ex had was at the limit with 3 months left on the lease so she leveraged the pull ahead program and got into a new GLE 350. No extra charge as she were under the lease limit at the time it was returned.

[shanetoast]

Originally Posted by slavearm

I generally just buy the car and resell it. Tends to net me way more money. Especially if you leased it early when the residuals were like 56%. I netted almost 10k on my 2008 like that and 7k on my 2011.

Soo smart! Hopefully i dont go so far over on my miles that it kills the resale value.

I didn't even think of that as an option. Something to now think about for sure!

[shanetoast]

Also, thank you everyone for all the help!

[pz619]

Right now I'll be about 3-4K over miles when I turn it in. At that point I'll do the math of either buying the extra miles or simply purchasing the car and flipping it. It all depends on the depreciation of my car at the end of the lease.

[aerostar]

I think I'm going to be 12k over when I hand it in at this rate.

[bimmerfrk]

what happens if you dont use all you miles.

I have an X4 that will probably have like 10k miles under the 30k total allotted.

Do you get credits towards another car....

[figgie]

Bimmerfrk,
not very much credit.

I went over about 102miles on my 14 550xi. Not much. I ended up purchasing a 750. BMW waved the overage and the lease dispose fee ($350).

[platinum903]

Originally Posted by bimmerfrk

what happens if you dont use all you miles.

I have an X4 that will probably have like 10k miles under the 30k total allotted.

Do you get credits towards another car....

You get a small credit, but it's really a joke. Like really bad. You might get $100 for being that far under or something ridiculous like that.

[SooperGook]

Originally Posted by bimmerfrk

what happens if you dont use all you miles.

I have an X4 that will probably have like 10k miles under the 30k total allotted.

Do you get credits towards another car....

if you're under your miles you should try to sell it or trade it instead. if the value is more than the residual don't throw that money away

btw i went about 15k over a lease on a work car once so i just traded it into a dealership for my payoff, rather than riding it out and paying for it later

[Draper]

Originally Posted by bimmerfrk

what happens if you dont use all you miles.

I have an X4 that will probably have like 10k miles under the 30k total allotted.

Do you get credits towards another car....

You'd only get a credit if you purchased additional miles. E.G. You had a 15k lease, and bought 9k extra miles (giving you 54k total miles over 3 years). So, if you turned the car in with 50k you'd get a small credit for the 4k miles you didn't use.

BMWFS gives you nothing if you simply turn the car in and your miles are below the standard allotment.

[aerostar]

Originally Posted by SooperGook

if you're under your miles you should try to sell it or trade it instead. if the value is more than the residual don't throw that money away

btw i went about 15k over a lease on a work car once so i just traded it into a dealership for my payoff, rather than riding it out and paying for it later

Huh?

[shanetoast]

Originally Posted by aerostar

I think I'm going to be 12k over when I hand it in at this rate.

I'm in the same boat!

[SooperGook]

Originally Posted by aerostar

Huh?

huh to which part?

if the value of the car exceeds the residual at the end of the lease you should trade it in, or sell it. but don't just return the lease you could be throwing money away