Current mileage: 23,000
Maturity mileage: 39,000
Effective miles per month:
Maturity date: March 2022
Current odometer reading is 23,207 today and agreement max is 34,045. The purchase option at the end of lease term is $27,143. The current payoff amount is $30,443.42 and valid through July 4.
MSD due (if any): none
Cash due (if any): none
Incentive for new lessee (if any): none
Financial institution: BMW financial
Transfer fee: $500
Out-of-state transfer allowed (yes/no): yes
Vehicle condition (accidents, tire wear, etc.), options, and other details: immaculate; full tired protection Included
I could be wrong, but I think BMWFS allows out of state transfers.
Secondly - adding pictures, and the window sticker would be beneficial (to see color combo, packages, options are on the car). Lastly, please add lease end residual value of the vehicle.
Thank You
My post will not edit. Tried updating the current mileage and maturity mileage.
Current odometer reading is 23,207 today and agreement max is 34,045. The purchase option at the end of lease term is $27,143. The current payoff amount is $30,443.42 and valid through July 4.
Sure. That being said there’s definitely someone out there who could use the 16,000 miles remaining over the next 8 months. Roughly 2000 miles per month is an insane mileage allowance on a lease.
I would say if your going to compare this to a lease where you have 10k miles per year (800 miles per month) you need to apply some sort of credit for the excess miles remaining.
In this case .25 cents * (1200 excess miles per month *8) = $2400 incentive in excess miles
$2400/8 = $300 per month mileage incentive
$498 - $300 = $198 per month gross effective
Now let’s add in the $500 transfer fee + $350 disp. fee = $850
$850/8 = $106.25
$198 + $106.25 = $304.25 per month net effective
Miles aren’t free. This car obviously isn’t for everyone, but there is a substantial amount of value for someone looking for a ultra high mileage short term lease (as you can see this calculates to a base $304.25 p/m monthly payment if you compare this against a lease that a 10k annual allowance)
@M3-Fast - are you working out the inherent value in the deal compared to a regular 10k per year lease? Novice question perhaps but wasn’t sure from your post.
Correct. Basically let’s say you were someone that was looking for a 2,000 miles per month lease.
You would need to find a car that was $304.25 per month all in w 10k miles per year as a starting point. Since miles are sold at .25c per mile, it would add up that way.
Just one way to look at this deal. That’s all.
