Hi, I have about 11 months left on my lease, but based on my calculations, I would be in excess of 6,000 miles by the time the lease is over. I would probably reach my mileage allowance in 5 months. My question is, will BMW waive 6 months of my payments (MB has done this for me before) if I get into a new car? My local sales guy says they took that option away. I really would like to get an X1 or X2 if possible.
Anyone have any advice on what I can do? I do like the car a lot but I also feel that a smaller SUV is a better fit for me at this stage. The payment I have on the car is amazing by the way ($450 per month including tax with $0 drive off on a 58.5k car).
Bmw doesn’t have a 6 mo pull ahead, they’ve offered pull ahead programs in the past but not always and I don’t remember ever for 6 mo.
You could try to offer an incentive and try to lease swap out of it or just eat the 6k miles. That’s $1500 at 25 cents/mi which translates into an extra ~$41/mo over 36 mo. So you can look at your lease costing ~$490/mo instead of $450/mo. I’m assuming 25 cents/miles… could be less you’d have to ask BMW FS.
Let’s say it costs you $1000 incentive to try to lease swap out of it, then you’re really only saving $500 and it’s not even worth the hassle, especially since you like the car.
Drive it until the miles are up or just eat the miles, that’s a cheap payment for that car. I assume the 2018 X2 will have lease support until March, maybe April, could wait until then and try to work a deal on a loaner. I wouldn’t be in a rush to do anything because you’re not in that bad of a position.
Thanks for the advice guys. I calculated again and I may end up being closer to 10k miles over the allowed maximum at the end, but it would still make more sense for me to pay the overage fee at end.
if you’re going to drive a lot during a particular week, just rent a car for $100/week, put 1000 miles on it and that saves you $150 compared to paying $250 overage miles for 1000 miles at 0.25 cents.
So, another topic came up as I was talking to my dad. I’m already a little over my maximum allowed miles and the lease ends on Jan 7, 2020. The registration for the car is going to be around $800 due in July and the car needs two RFT’s in the front (probably a $200 expense if I get some good used ones).
Is there a way BMW may eat two of my payments and would it make sense for me to roll my negative equity about $2500 into a new lease?
The tires will likely need to be replaced anyways they are getting to 4/32 almost. I guess the only savings would be the excess miles (which I imagine would be about $1500-2,000 in addition to the $800 registration fee if I get out early.
I’ve tried working with dealers to work with my negative equity ($3,000) but it doesn’t look like its working out. Guess I’ll have to pay for the next 6 month on this car.
What do you mean it’s not working out? I’m sure there are BMWs that can absorb an additional $3K and shouldn’t really impact what the dealer will lease the new car for since BMWF is just financing those last payments.
Are you just not able to get a reasonable payment? If it’s 36 month lease, it’s under $100/month so should be able to find something and still be under $500/month including the recent 430 and 440 deals. Since you are paying anyway, I would wait until you are close to 0 miles left on your current lease though unless the minimum tire depth is going to come into play.
seems like you’re on a long lease term, @as90 you can prepay the excess miles if you can’t find another car. the 430’s and 530e is your best if you wanna jump to a new car and just get a longer mileage next time around.
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seems like you’re on a long lease term, @as90 you can prepay the excess miles if you can’t find another car. the 430’s and 530e is your best if you wanna jump to a new car and just get a longer mileage next time around.
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I’m not too keen on the 4 series but I did look into it and they were definitely rolling the payments in/not waiving them. I was getting quotes of about $600 per month with $0 DAS for 3 years/15k miles per year.
i think they are all going to roll the current payments in. I think the idea is that for some cars the discounts to be had are such that it will cover the $3k hole you’re in.
I ended up just paying the registrationand I think i will wait it out until december. some family members really want a tesla which would need to be bought but we are living in condo without charging outlet so that may be a limitation.
Correct, if BMW Corporate doesn’t offer a true drive ahead program, the dealer has no ability to eat them so they are being rolled in.
Just like any other lease here, $600/month means very little without knowing the underlying numbers. The negative equity has no impact on their ability to give you a good deal on the new car and you can leave it out of the conversation until you agree on numbers. Just keep in mind you would need to add around $100/month to the payment. Unfortunately dealers try to take advantage of people in these situations and act like they are doing you a favor, but it’s really just BMWF and they are happy to do it since they are keeping you as a customer and making extra money.
430 demos are regularly going for $300/month for 10K miles with some upfronts, so $600 still seems high even with the negative equity, 15K, and zero DAS.
I ended up paying my registration and decided to keep it for a few months. I don’t know if I will get a better deal in Dec/Nov but thought it is worth a try.
