Lease turn in question

Phil G. · 03-10-2009, 07:59 AM

I turned in my '07 328xi 3 weeks ago for a new '09 328i w/ x-Drive, which I financed through BMW Financial. Great cars both, and I'm happy with the new one. My question is that I was told in some cases, BMW Financial will offer refund $$$ for unused lease mileage. My allotted miles were 27,000 - I turned the car in with 21K. Any chance of BMW offering me anything for the unused miles??

darkcloud · 03-10-2009, 08:28 AM

I don't think there is a chance in hell they will, personally. They'll def. be sure to rake you over the coals if you go over on mileage but to be under, well you just didn't drive enough. Your contract stated you were allowed to drive 27k miles, YOU chose not to. That's not their fault. Again this is just my take on it, but I find it hard to believe they would offer any compensation to you.

LI E90 · 03-10-2009, 09:40 AM

lol........ no chance....

I have only 14,000 miles and i am allowed 30,000................

bknight · 03-10-2009, 09:42 AM

this was one of my big mistakes too, took 15K a year lease whereas in reality will be much closer to 10K a year.

I think hell will freeze over before BMW (or indeed any car manufacturer) refunds anything for unused mileage on a lease unfortunately.

mr.bob · 03-10-2009, 09:42 AM

I know for fact that they do not. I had an 04 X3, turned it in with 10K miles. Lease allowed 36000. I still had to pay $300.00 disposal fee

2kaccordocoupe · 03-10-2009, 10:03 AM

My kms are also low which is why I have always gone the purchase finance route as opposed to the lease route.

kgb1637 · 03-10-2009, 10:46 AM

The only advantage you have is that the buyout price MIGHT, and thats a big MIGHT, be lower than what the car is actually worth which means if you buy it out you essentially are buying a car for less than its worth, thats a slim possibility though now with the way car prices have dove in the past months.

Phil G. · 03-10-2009, 04:14 PM

I turned the car in when I picked up the new one. My dealer actually told me that BMW Financial has offered customers additional allowances when mileage is way under allotment. That's why I asked. I agree that I'd be shocked if they gave me anything extra for the 6K unused miles.

beekandbunk · 03-12-2009, 07:15 PM

This post prompted me to stop lurking (great and useful though that has been) and actually register!

The OP is correct on there being a way of getting cash back on unused miles but it is done as "a courtesy" no doubt to avoid them making it contractual in some way. We received a courtesy check for a few hundred $$$ with a letter specifically referring to the under-mileage when we entered into another financing with BMWFS (and this was a CPO loan rather than another new lease). Not sure how common this is but it happened to us in the last 3 months.

MD335i · 03-16-2009, 09:19 PM

I also believe there is a credit of some sort. I just talked to BMW Financial Services today about turning in my lease and the representative told me that there was a $200-$400 credit available for coming in under the allowed miles if you get another BMW leased or financed through them. They would also waive the disposition fee. To the OP: Just call them and ask.

vindicator · 03-16-2009, 09:23 PM

I also turned my car in under the allowed miles - about 5k under. The dealer told me that there was no refund and BMWFS told me that if there are any issues with the car - they will use the extra milage as a buffer for the expenses. I wish they'd send me a check. We will find out soon.

Phil G. · 03-17-2009, 09:25 AM

Quote:

Originally Posted by vindicator

I also turned my car in under the allowed miles - about 5k under. The dealer told me that there was no refund and BMWFS told me that if there are any issues with the car - they will use the extra milage as a buffer for the expenses. I wish they'd send me a check. We will find out soon.

They assessed zero damage/overuse fees on the turn in, and I just received a check for my security deposit ($350 lease turn in fee was waived). Process took all of around 2 weeks start to finish. I'm fine with it.

IrvRobinson · 03-18-2009, 08:33 AM

I think if you contracted for 16K or more per year and use less,BMW will refund back to 15K,but no less.The easiest way to find out is to contact BMWFS,not the dealer.

03-10-2009, 07:59 AM	#1
Phil G. First Lieutenant 12 Rep 319 Posts Drives: 328xi Join Date: Apr 2007 Location: Maple Glen, PA iTrader: (2)	Lease turn in question I turned in my '07 328xi 3 weeks ago for a new '09 328i w/ x-Drive, which I financed through BMW Financial. Great cars both, and I'm happy with the new one. My question is that I was told in some cases, BMW Financial will offer refund $$$ for unused lease mileage. My allotted miles were 27,000 - I turned the car in with 21K. Any chance of BMW offering me anything for the unused miles?? __________________ Phil G. 2009 BMW 328i (x-Drive) e-90, 2010 Audi A4 Prem+, 2008 Audi TT Roadster S-Line
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03-10-2009, 08:28 AM	#2
darkcloud Colonel 336 Rep 2,385 Posts Drives: 09 VW JSW Join Date: Aug 2006 Location: cleveland, oh iTrader: (2) Garage List 2006 325i [0.00]	I don't think there is a chance in hell they will, personally. They'll def. be sure to rake you over the coals if you go over on mileage but to be under, well you just didn't drive enough. Your contract stated you were allowed to drive 27k miles, YOU chose not to. That's not their fault. Again this is just my take on it, but I find it hard to believe they would offer any compensation to you. __________________ retired 06 E90 325i New: 09 VW Platinum Grey Jetta Sportwagen 2.0T SEL w/DSG, panoramic sunroof and Ipod adapter
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03-10-2009, 09:40 AM	#3
LI E90 Colonel 133 Rep 2,086 Posts Drives: E90 Join Date: Mar 2007 Location: Long Island iTrader: (2)	lol........ no chance.... I have only 14,000 miles and i am allowed 30,000................ __________________ 2013 MB C300 4matic 2014 Ford Explorer Ltd 1973 Jeep Commando
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03-10-2009, 09:42 AM	#4
bknight Captain 60 Rep 609 Posts Drives: F95 X5M Competition Join Date: Jan 2008 Location: United States iTrader: (0)	this was one of my big mistakes too, took 15K a year lease whereas in reality will be much closer to 10K a year. I think hell will freeze over before BMW (or indeed any car manufacturer) refunds anything for unused mileage on a lease unfortunately.
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03-10-2009, 09:42 AM	#5
mr.bob Private 4 Rep 72 Posts Drives: 2008 335XI Coupe; 2004 325 Join Date: Mar 2008 Location: Connecticut iTrader: (0)	I know for fact that they do not. I had an 04 X3, turned it in with 10K miles. Lease allowed 36000. I still had to pay $300.00 disposal fee
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03-10-2009, 10:03 AM	#6
2kaccordocoupe Brigadier General 1274 Rep 4,703 Posts Drives: Former ///M Driver Join Date: Nov 2008 Location: The 6ix iTrader: (2)	My kms are also low which is why I have always gone the purchase finance route as opposed to the lease route.
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03-10-2009, 10:46 AM	#7
kgb1637 Lieutenant Colonel 21 Rep 1,519 Posts Drives: RS5 Join Date: Sep 2008 Location: Baltimore, MD iTrader: (0)	The only advantage you have is that the buyout price MIGHT, and thats a big MIGHT, be lower than what the car is actually worth which means if you buy it out you essentially are buying a car for less than its worth, thats a slim possibility though now with the way car prices have dove in the past months. __________________ Retired - '08 E90 335i Sparkling Graphite/Gray Dakota Leather, ZSP, ZCW, ZPP, Navi, ipod, Sat
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03-10-2009, 04:14 PM	#8
Phil G. First Lieutenant 12 Rep 319 Posts Drives: 328xi Join Date: Apr 2007 Location: Maple Glen, PA iTrader: (2)	I turned the car in when I picked up the new one. My dealer actually told me that BMW Financial has offered customers additional allowances when mileage is way under allotment. That's why I asked. I agree that I'd be shocked if they gave me anything extra for the 6K unused miles. __________________ Phil G. 2009 BMW 328i (x-Drive) e-90, 2010 Audi A4 Prem+, 2008 Audi TT Roadster S-Line
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03-12-2009, 07:15 PM	#9
beekandbunk Registered 0 Rep 2 Posts Drives: 14 328d wagon Join Date: Mar 2009 Location: MA iTrader: (0)	This post prompted me to stop lurking (great and useful though that has been) and actually register! The OP is correct on there being a way of getting cash back on unused miles but it is done as "a courtesy" no doubt to avoid them making it contractual in some way. We received a courtesy check for a few hundred $$$ with a letter specifically referring to the under-mileage when we entered into another financing with BMWFS (and this was a CPO loan rather than another new lease). Not sure how common this is but it happened to us in the last 3 months.
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03-16-2009, 09:19 PM	#10
MD335i New Member 0 Rep 7 Posts Drives: E60 M5 Join Date: Mar 2009 Location: MD iTrader: (0)	I also believe there is a credit of some sort. I just talked to BMW Financial Services today about turning in my lease and the representative told me that there was a $200-$400 credit available for coming in under the allowed miles if you get another BMW leased or financed through them. They would also waive the disposition fee. To the OP: Just call them and ask.
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03-16-2009, 09:23 PM	#11
vindicator balllllllllin 20 Rep 173 Posts Drives: 2009 335i xDrive Join Date: Jun 2008 Location: MI iTrader: (0)	I also turned my car in under the allowed miles - about 5k under. The dealer told me that there was no refund and BMWFS told me that if there are any issues with the car - they will use the extra milage as a buffer for the expenses. I wish they'd send me a check. We will find out soon. __________________
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03-18-2009, 08:33 AM	#13
IrvRobinson Banned 39 Rep 731 Posts Drives: X3 Join Date: Jul 2006 Location: Chicago iTrader: (0)	I think if you contracted for 16K or more per year and use less,BMW will refund back to 15K,but no less.The easiest way to find out is to contact BMWFS,not the dealer.
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