Quote:
Originally Posted by Auricom
Quote:
Originally Posted by dbjunction
Quote:
Originally Posted by Auricom
The residual value between 10K and 12K is only 1%.
For 10K/year compared to 12K/year, you're saving approximately (ignoring other lease factors) $20 per month or $720 for the term of the 3 year lease.
Let's say you signed for 10K/year and drove an additional 6K miles over 30K. The overage between difference between 30K and 36K is 6K miles or $1500 (using 0.25 as a reference). In this this instance, going 12K/year would make more sense.
Yep you can actually buy additional mileage as a lump sum at a discounted rate up to the day before you turn in your lease. Example, if the discounted rate is 0.22 versus 0.25 and you're 1K over - it's going to cost you $220 versus $250. I have a call into BMWFS to purchase additional miles and will report enter the discounted is.
If you ever need to extend your lease in the future, you get an extra 1K miles per month.
|
Awesome!! Thanks for the detailed explanation. |
Also if you're under mileage at the end of your lease, you're eligible for a mileage credit - credited to your BMWFS account towards your next lease.
% of Contractual Miles not Utilized and Credit Offered for Unused Mileage
10% - 14%: $200
15% - 25%: $250
>25%: $300 |
I'm buying my car tomorrow at its lease end. I have only used 27k of its 12k/yr (36k) miles. I'm being told BMWFS only refunds monies on leases that have 20k/yr or more alloyed . Seems crazy but that's what they told me.