2015 bmw x1 lease-end questions

Ask the Hackrs
1

Hey guys, first post here. Looking forward to getting some quality advice here :slightly_smiling_face:

Currently have 4 $344payments left on a 2015 x1. SIgned a 12k/39m lease and im currently sitting on at 75k, so 36k over already which translates to $7,200 (and counting) in over mileage fees. The extra mileage came from me being in sales and in a position where I drive a lot. The residual is set at 24k.

I am working under the assumption that within a year MAX, my work title will change and driving will be down to about 15k miles year , but then again thats how i got in this mess in the first place. Just trying to figure out whats my best bet here.

Do I finish off my lease, pay for the extra mileage and walk away with my losses? Total cost should be just over $24,000 And just look at buying something instead.

Do I try getting in a new X3 lease, have the last 4 payments waived with BMW pull ahead program, get a high mileage lease and hope within a year i get promoted and drive less, or try to have someone else take over on the lease.

Any other suggestions?

2

first you can try to pull ahead program and see what they say. don’t even bother doing a lease transfer cause no one in their right mind will take a lease car with that much mileage over unless you’re giving them an extra 10k in incentive.

3

Take to carmax or a used car dealer and see how much they’ll offer.

Start from there

1 Like
4

they said just about 11,000 is what i would get. He said cut the bleeding, go to BMW pay the last few payments and current outstanding mileage and just walk away. Is that really the best option I got?

5

Also does anyone know if you can negotiate with BMW financial a lower price on the mileage then the discounted rate (0.18) if you tell them you are planning on getting in another BMW?

6

I would pay the mileage and start over.
30k miles is 30k miles…

Perhaps leasing isn’t for you? :slight_smile:

7

Have learned that the hard way :sweat_smile: