Unused miles due to less usage

Ask the Hackrs
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21

Ha ha. No. $299 a month

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22

That should go quick, someone on here might grab it. Takes some pics and posted on here, new thread of course. “Great for your Uber or Lyft business”

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23

I would definitely find a way to dump it with that setup.

24

What were the due at signing?

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Although what are going to replace it with? I think with that payment I would just keep it. You’ll save what $50-$100 a month and drive something not as nice, doesn’t seem worth it.

26

Thanks. I hope I am not losing any equity (if any lol)

27

It took you this long to mention it’s a CLA? A car that doesn’t even appeal to Uber drivers?

NTM the miles remaining aren’t even 1,500/month

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28

BMW gives up to 300 credit for unused miles

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29

Uber drivers get taken advantage of because they’re not always financially savvy… for instance depreciation (a non-cash expense) gets entirely thrust upon them, but they’re not stupid.

Their rating would get destroyed from people hating riding in the back seat of a CLA

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30

CLA-Class is an approved UberX vehicle. I don’t see how it’s any worse then then a 2006 Prius, which is also UberX approved. If you’ve ever taken an Uber in Mexico City I think you might think otherwise!

31

I guess I don’t see why all the fuss over a $299/mth car. I don’t know what you’d replace it with that would be cheaper.

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32

I’m in a similar boat. Way under miles. But I have a VW Tiguan so can’t be cleanly transferred. 14 months in and only have 6,200 miles out of 32,500. Only put on about 20 miles since the lock down started.

But the payment is low enough and it’s the wife’s car anyway, so as long as she enjoys it, I’ll just return it under miles (I’m expecting I’ll be under miles by at least 10k) or sell it if it’s value exceeds lease end purchase price, but not counting on the latter.

I don’t foresee VW or anyone else refunding unused miles, at best some may allow you to ‘carry over’ some miles if you lease another vehicle.

33

Source for this info?

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Not exactly a source you can point to, but here’s a thread about it.

Edit: According to a post on bimmerfest, this table below is on the lease turn in inspection form.
image

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It shouldn’t be interpreted as a blanket statement. Some BMW leases it can be included in up front but I wouldn’t say it is standard. It seems more like one of those friends and family perks from what I’ve seen.

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I personally got it 2 times when returning my previous leases.
And I doubt I was considered Friends and Family :slight_smile:

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@Jon @ApexHunt @Rodriges

Thanks all, will take a look

38

When I returned one it was certainly brought up and pointed out that I didn’t have “unused mileage credit” built into my lease contract. It was a 328 though fwiw.

39

:grimacing: :grimacing: :grimacing:

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40

If banks compensated lessees for unused miles at say 15 cents a mile, I could lease a cheap tacoma from us bank, turn it in undriven and make money !

Yes banks don’t want to have their lease contracts fluctuate. They want to base their projected Residual values on contract term and miles, whether used or not. Otherwise they would need to constantly adjust their valuations.

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