I see a lot of offers in the deals and market place for low mileage leases. I.e. 7500 or 10k miles per year. If you’re likely to drive 12k a year anyway, is there some monetary advantage to doing a low mileage lease over a typical 12k/year lease?
Is there some hack I’m not aware of or it is just advertising low mileage leases to get a low price in front of you?
How about 36 vs 39 month leases? I see typical leases for 36 months. How does changing the term by 3 month make a big difference?
No… you are save 1-2% of MSRP, which is about $14-$28/month, assuming a $50K car over the course of a 36 month lease.
The manufacturer is still making money on that so in the end mileage has very little impact on value of the car (within reason). I returned a car 15k under and was still underwater. Go with the amount based on your best guess and always be conservative as buying mileage after the fact is 50%-100% more. If you are significantly under, a lease transfer may be a good option to recoup some of that.
It’s mainly a marketing strategy to advertise lower monthly payments but it will be in your favor if you are a person who drives less then 10k miles per year. You would pick 7.5k lease instead of paying a 10k lease.
Infiniti loves 39 month leases. They think that additional 3 month depreciation works in their favor well. However for states like CA that additional 3 months mean another full year registration payment for you.
Personally I wouldn’t go more than 36 months. If you find a BMW with deep discount your 24 month deal would be even better than a 36 month deal. You can play with the calculator and see your own results.
Lease prices are based on depreciation, so the less miles you drive a new car, the less it will depreciate, hence lower mileage leases tend to cost less per month. Of course if you go over the mileage (much more likely with low mileage leases), you’ll pay a big penalty when you turn it in.
