I set my 535i at 2k miles per year and 10k for the volt. $74 more per year. I was surprised too. Ask first before buying. I’m with Wawanesa insurance. California and oregon inly.
BMW financial allows you to buy extra mileage on your lease before it terminates. It may not be cheap but could be cheaper than the excess mileage cost and may be worth looking into.
Currently, BMW will charge you .18/mile if you buy miles early. I know is because I turned in mine last Friday and bought some extra miles before doing so.
It’s actually.16 per mile up until 4 months before lease end.
yeah, I just receive the mail. It’s 16 cents/ mile. I’m not taking it since I’m 3k miles short of 50k miles. If it breakdown, it’s on my dime. lol
Do they throw out promos near lease termination? I just looked at my account and the base rate to buy extra miles mid-lease is $.20 per mile but almost $.24 after tax. My over mileage penalty is only $.25 a mile.
If you lease an iPerformance model (think 330e, 530e or 530xe, 740e, X5 40e) and/or a BMW i3, you’ll at least have a minimum of $4500 in rebates to work with to soften the blow of the mileage overage (not including other stuff you can try to add on such as loyalty, corporate, etc). If you can combine that with a lease pullahead (around 3 months before lease end) you might not be in as bad a position as originally expected.
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You could lease a car for $100 a month, probably around 30-50 a month insurance and just park the beamer. Let’s say you’re at $150 a month for the new car + insurance. That will save you about 1.2k per year. Just an option.
The point idea may be better… Or figure out a way to drive less? Why are you running the miles so high?
You could effectively do a Dutch auction on swapalease, keep lowering the price (by increasing the incentive) until someone bites.
This is interesting. I’ll definitely keep this in mind as an option. Thank you for the input.
Most of the miles come from commuting to and from work and 7 year old daughter. I’m a single father.