Back to office Current lease not enough what are my options (So-Cal)

[n4s]

I recently leased a BMW 530e for 10k Miles a year (cost around 900 per month) for 36 month. Its been three months, now my office is saying we need to be back 3 days a week, my one way commute is 50 miles so around 100 miles a day, around 1200 miles a month just on commute.

I think i will be way off miles, is it better if i offload this lease(may be some loss) and get some Hybrid or Electric(need HOV sticker) and look for 15000 miles lease. Seems like with some EQS lease being in low 600’s and if i can off load this lease i may come out better then keeping this car. Any suggestions ?

EDIT:Payoff is around 60k right now.

[forbs]

Did you get any pricing vs your payoff on the Beemer?

If not, well roll the dice!

[boozinix]

Check what values you get for the car, but they wont be much. I got quotes for my 530e last year, at the height of the insane prices, and even then I never had equity.

Most likely, you will pay 0.25$/mi.

Even if you get EQS, it will be 0.25$/mi above the minimum 7500 miles per year (because the MSRP is so high)

[Ashleigh]

Whoa, what was the MSRP on your car? This sounds like an MSRP-ish deal.

[NATO]

Subvert management. Say your child is sick on the day you’re supposed to come in so you have to work from home.

Say you have a dentist appointment local to your home midday.

Tell them commuting to a computer for “the culture” is a stupid reason and a waste of your life.

[zaimer]

I don’t see how the payoff is meaningful without knowing the overall deal; we have no idea how much money you have or don’t already have stuck into the BMW. I.e. the “pricing vs your payoff” can be disregarded.

Getting an EQS in the “low 600’s” is basically a unicorn deal. I wouldn’t designate that as your get out of jail free card. If you were able to obtain one of those (on your own) you wouldn’t have started this thread, frankly.

Have you calculated what it could actually cost you monthly, with the estimated mileage overage? It could be cheaper to pay for the excess mileage vs dumping the Beamer and entering another poor deal.

[jeisensc]

You might want to look at the first post here

“Should I buy out my lease?” super-thread

Edit: since this is now the top of the super thread, moving to “Ask the Hackrs”. When submitting this question, please tell us: if Lease is not with OEM captive bank (eg US Bank, Ally), who and what disposition fee is The residual value and disposition date (when are you supposed to turn it in?) Current payoff — NOT the same as the residual unless you have made the last payment If you have extended your lease, where are you on that timeline? Do you have equity? What would the third parties wo…

Separate potentially buying out your 530e (an already fuel efficient phev that is HOV eligible from a replacement).

Not many high mileage leases that are strong right now, I’d do the math on tco including fuel (electrons or dead dinosaurs) and insurance.

[Bluemkn57cars]

@n4s

Seems like with some EQS lease being in low 600’s

Those EQS deals were for 7500 miles per year. If you plan to drive 15,000 miles a year, you will be paying much more than that.

If I were in your shoes, I would not rush into leasing another car.

[Mike_Ezginder]

Do the math yourself (e.g. keep 530 vs lease EQS for 15K miles ) and share here. People will chime in and give you a reality check for your assumptions. Your request is too vague.

[n4s]

Maths Checkout to keep the current car. Upside down on my current lease for min of $5000(selling to private party even) . So will enjoy the car .