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      03-10-2020, 06:44 AM   #1
Keyinhand
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High Mileage Leasing?

Hello all,

After a long time away from my F10 (purchased new in 2011, sold it in 2017) it's time to come back to the U.S. and into another BMW. Thinking real hard about leasing, as opposed to another purchase.

Not sure about my new prospective commute though (Columbia, S.C. area), as it may very quickly run up against normal lease mileage caps.

Anyone have success with high mileage leasing? Thinking I might need around 15-20K miles a year, so it'd would be over the hump of 50K by the time the lease ends....
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      03-13-2020, 09:37 PM   #2
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Quote:
Originally Posted by Keyinhand View Post
Hello all,

After a long time away from my F10 (purchased new in 2011, sold it in 2017) it's time to come back to the U.S. and into another BMW. Thinking real hard about leasing, as opposed to another purchase.

Not sure about my new prospective commute though (Columbia, S.C. area), as it may very quickly run up against normal lease mileage caps.

Anyone have success with high mileage leasing? Thinking I might need around 15-20K miles a year, so it'd would be over the hump of 50K by the time the lease ends....
Lease for 15K miles/yr.

Call BMWFS for pre-purchasing extra miles around 6 months lease end. I am guessing you'll get discounted rate of $0.20 instead of $0.25 per mile. Factor that into your extra payment as monthly. With nearly $3000 extra + tax for 15000 additional miles and no interest to be paid on it,

you are looking at ~53% residual vs 57% (for 15K miles/yr) on a $70K vehicle.

Not a bad deal I'd say if you exhaust to 60k miles in 36 months.

I am not sure if there are additional penalties or possibility of discounted per mile rate once you cross 50K on the ODO which is beyond the 4/yr 50K miles warranty. You run the risk of out of warranty repairs in 50-60K mileage window while you have lease contract.

CPOing that car would be a headache for any dealer.
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      03-14-2020, 09:31 PM   #3
claykin
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Quote:
Originally Posted by bavarianboar View Post
Quote:
Originally Posted by Keyinhand View Post
Hello all,

After a long time away from my F10 (purchased new in 2011, sold it in 2017) it's time to come back to the U.S. and into another BMW. Thinking real hard about leasing, as opposed to another purchase.

Not sure about my new prospective commute though (Columbia, S.C. area), as it may very quickly run up against normal lease mileage caps.

Anyone have success with high mileage leasing? Thinking I might need around 15-20K miles a year, so it'd would be over the hump of 50K by the time the lease ends....
Lease for 15K miles/yr.

Call BMWFS for pre-purchasing extra miles around 6 months lease end. I am guessing you'll get discounted rate of $0.20 instead of $0.25 per mile. Factor that into your extra payment as monthly. With nearly $3000 extra + tax for 15000 additional miles and no interest to be paid on it,

you are looking at ~53% residual vs 57% (for 15K miles/yr) on a $70K vehicle.

Not a bad deal I'd say if you exhaust to 60k miles in 36 months.

I am not sure if there are additional penalties or possibility of discounted per mile rate once you cross 50K on the ODO which is beyond the 4/yr 50K miles warranty. You run the risk of out of warranty repairs in 50-60K mileage window while you have lease contract.

CPOing that car would be a headache for any dealer.
BMWFS offers a $0.02 per mile discount if purchased before lease turn in. That's it. And you can purchase miles at the 2 cent discount immediately before turning in the car. Just don't try to do it last minute after business hours or on weekends. You may be disappointed off hours.

FS hasn't offered a better pre turn in discount in several years.
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      03-19-2020, 05:27 PM   #4
Keyinhand
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Thank you - good insight there, and i've been keeping an eye out for CPO cars as well, but being out of warranty is what makes me hesitant to go used. I never had a lot of issues at all with my F10, but the few things I did have were covered under the extended warranty I purchased after the original one expired...and it paid for itself on the first visit (was also able to transfer it to the buyer which sweetened the deal for him).
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