Hi all. My wife’s BMW is allowed 36,000 miles for the lease and she’s a few thousand miles away from hitting that amount. Her lease is up in November so it’s very likely she’ll get hit with an extra 5-6k miles before the end of the lease. I’ve heard that if you buy a chunk of miles before the end of your lease it’s cheaper. Do you guys recommending doing this? Can you negotiate the price of extra miles or are you SOL and have to go with whatever they tell you?
They will not negotiate the price of extra miles. Nobody does. Purchase them before it is turned in so that it is cheaper.
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Thanks for the response! Do you just call them the day before and tell them how many miles you want to purchase?
Also get a quote from CarMax/carvana etc… Unlikely but possible selling to them as you get closer to end of lease is better than turning car in after paying disposition fee and buying the extra miles.
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Thanks, I’ll definitely try that. I’ve had pretty terrible luck with them previously. Tried going to carmax with my wife’s old kia soul and they wanted to give me $5k less than the buyout + what I owed (we had about 10 months left on the lease). Maybe an SUV will get more value?
are they still $0.23/mile to buy early?
I thought it was $0.22/mile if you buy early and $0.25 if you don’t, but I may be wrong. I’m trying to find the info online and can’t find it.
You can attach the lease/purchase of a new car to them eating away at a fair bit of the overage. I’m assuming we’re talking about a max of $1,500 here? If you want that substantially reduced, negotiate a good deal on a new car. Then hinge that deal on a fair chunk of that $1,500 disappearing.
one thing has nothing to do with the other. The miles are charged by BMWFS, not the dealer and if the dealer is willing to “eat” the miles, you know you’re not getting a good deal anyway.
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They bumped it to .23 when they redesigned the portal. It was .18 last year.
Unless it changed, if you bought them 6 months prior to term, you could space the payment out within your monthly rather than paying a lump sum. Less than 6, you had to pay in a lump sum.
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While technically correct, I’ve done this a number of times. I’ve had BMWFS eat overage and leased a new vehicle.
And “eating” the miles does NOT mean “you’re not getting a good deal anyway.”
Great info. I’ll call them and see about rolling the cost into the lease. Even if I bought the car two years ago, they can change the cost of buying extra miles at any time?
yup…they’re the only captive that I know of that allows you to buy extra miles during the lease, and it wasn’t listed anywhere on the contract that you could buy them at a discount during the lease term, so they control the cards.
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aw bummer. Would’ve been nice to get 'em at that 18 cent price, but I guess I lost out. Didn’t realize we had driven that car so much.
Post your details of your deals and we will tell you how well you did …
LOL. I don’t think I wanna dig back five years.
I’m not about to argue, take the suggestion or not.