I’d like to ask if what I’m looking for is feasible and would be very grateful for your kind feedback. I drive approx 17k miles a year so a high mileage lease would be needed for me. I see all these wonderful deals for cars, but they are always in the 10/12k miles range.
Has anyone seen a higher mileage lease secured for under $400/month with $0 down and only the MSD on brands like BMW, Mercedes Benz, Volvo, Alfa Romeo, Lexus, or Audi?
Your feedback or suggestions would be very much appreciated. Thank you!
Doing some quick math in my head your MSRP probably needs to be close to 40k or under, and on a model with a RV that pushes 60%, and probably a loaner at that…and yes, your options will be very limited.
I hope you qualify for a lot of incentives (military, college grad, Corp fleet, etc)
This Calc is a completely made up deal with the goal of showing you that BMWs are probably out of the question. I don’t know of any car right now with a MSRP below 50k that’s getting 2.5k in credits without the college rebate. On top of that, getting 11% with base MF is not easy these days.
Your only options here are probably a deeply discounted base X2 loaner If you can find one or a base 330 (they carry the highest RV of the group I believe, but I still think it’s no higher than 57% right now)
I think an XC40 could be doable given some of the deals I’ve seen here, but you’d have to ask the Volvo experts. As for Mercedes, possibly a base GLA, maybe GLB, if @AutoCompanion has any more of those 15% off new deals, but even still those are above 400/mo with 0 down
A base Lexus NX is probably worth looking at but they have low residuals and you’re probably looking like high 400s for that as well.
TLDR: My friend, good luck. The key to this is going to be maximizing your rebates and looking for dealers with low fees. And as a Virginian, I hope to god you don’t live in a Tax on the full sale price state.
If you can find a 15k mile lease at under 400 with 0 DAS right now, please let us know!
@Rsantoro12 Thank you so much for your answer. Yes, I probably have a better chance of getting stuck by lightening haha
@others I apologize if the question wasn’t clear. I’m aware most companies offer high mileage leases, but I don’t know if I can get a high mileage for under $400. Would need some intense hacking
From what I remember even Volvo could so that. Just past standard 15k the cost was essentially cents per mile.
At least that was conversation with the Sales Manager a coupe of years back.
@79BirdofPrey “high” miles affect residual value. My experience is that asking for 15k miles instead of 10k on cars in your target price range results in additional payments of 20-50 per month. So, any car you find for $300 could probably be had with 15K miles @ $350. You can pay for the remaining 3K miles at turn in. GM’s miles are expensive at $.25 per mile so you’re looking at $750 over life of lease or $250 a year or $20 per month.
The takeaway is that the extra miles don’t blow up most deals.
I’m not sure you can prepay past a certain amount, but I could be wrong. For GM the prepayment is 17 cents whereas the pay as you go is 25 cents. I thought the split would be larger. At that rate you’re talking about $80 for every 1,000 miles over.
Do a search, there are several long threads on this topic.
You need to stick with a brand like Honda where additional mileage is only $0.10, or like Ford who offer 18-20k leases, or just any car with great mileage residual value (Honda, Toyota).
