[b1st]

My F30, leased 2.5 yrs ago is due in late July and I only have 18k miles on it. The total lease is for 30k miles. I don't drive much and I travel a ton so I will be hitting around 20k miles by the time my lease ends and I'll have paid for 10k miles that I won't be using. Good news is that my M4 is replacing it via ED, for which I've been counting down days

I could do a lot of roadtrips but I just don't have the time. I thought about selling it but it wouldn't make any sense because the buy out is like $32k and the value of my car is prolly around $27k. It's a decently-loaded 2013 328i.

I thought about doing something like FlightCar but I don't think those extra few bucks is worth the hassle or some stranger leaving my car dirty/smelly/damaged. Anyone been in similar situation before? Any good ideas on how I might take advantage of my the extra miles?

[tex2670]

Originally Posted by b1st

My F30, leased 2.5 yrs ago is due in late July and I only have 18k miles on it. The total lease is for 30k miles. I don't drive much and I travel a ton so I will be hitting around 20k miles by the time my lease ends and I'll have paid for 10k miles that I won't be using. Good news is that my M4 is replacing it via ED, for which I've been counting down days

I could do a lot of roadtrips but I just don't have the time. I thought about selling it but it wouldn't make any sense because the buy out is like $32k and the value of my car is prolly around $27k. It's a decently-loaded 2013 328i.

I thought about doing something like FlightCar but I don't think those extra few bucks is worth the hassle or some stranger leaving my car dirty/smelly/damaged. Anyone been in similar situation before? Any good ideas on how I might take advantage of my the extra miles?

Putting 10,000 extra miles just increases the risk of getting in an accident, wearing the tires down past acceptable tolerances, or something else that will cost you $$ at lease turn in. Just enjoy until your new car comes.

[Pauleebe]

Usually BMW will offer you a credit when you return the leased vehicle if you have lots of mile allowance yet.

[XKxRome0ox]

i'll gladly use up those leftover miles for you

[b1st]

Originally Posted by dwalls90

Usually BMW will offer you a credit when you return the leased vehicle if you have lots of mile allowance yet.

Sweet. I've searched on this a bit and there seems to be many different stories but it seems certain that I'll get back _something_. Thanks for mentioning this and I'll be sure to discuss this with my CA soon.

[WHL102]

Copy pasted from my lease end inspection form, DATE: 24 MARCH 2016

Percent of Contractual Miles not Utilized

Miles not Utilized -------- Credit Offered for Unused Mileage
10% - 14.9% --------------------------- $200

15% - 24.9% --------------------------- $250

25% - 100% ---------------------------- $300

So, if you get into another BMW, it kooks like you'll get a $300 credit + waiver of the $350 disposition fee.

[Mojo2016]

Originally Posted by b1st

Sweet. I've searched on this a bit and there seems to be many different stories but it seems certain that I'll get back _something_. Thanks for mentioning this and I'll be sure to discuss this with my CA soon.

You could also try to see if Carmax will buy the car from you. I've done this with other cars that had positive equity and made some money of the deal (they settle with BMWFS and give you a check for the difference). Given that BMW residuals are artificially high you may not have much equity, but it may worth a shot.

[b1st]

Originally Posted by WHL102

Copy pasted from my lease end inspection form, DATE: 24 MARCH 2016




So, if you get into another BMW, it kooks like you'll get a $300 credit + waiver of the $350 disposition fee.

Thanks for posting this! Is this credit a cash payment / credit towards my next car or credit towards damages? That's one of the things that seem unclear based on my googling. Believe it or not, my car is in perfect shape, no scratches and no dings. The tires might be an issue but I'd buy used tires and $300 credit won't offset the price difference.

[WHL102]

Originally Posted by b1st

Thanks for posting this! Is this credit a cash payment / credit towards my next car or credit towards damages? That's one of the things that seem unclear based on my googling. Believe it or not, my car is in perfect shape, no scratches and no dings. The tires might be an issue but I'd buy used tires and $300 credit won't offset the price difference.

Not sure, but BMW FS should be able to answer that. They are surprisingly well trained and helpful. These are "loyalty" benefits so I would assume any credits would be applied to your next purchase. If they cut you a check, and then you never took delivery, they would lose out. But, call to be sure.

(800) 578-5000

[Pauleebe]

Originally Posted by WHL102

Copy pasted from my lease end inspection form, DATE: 24 MARCH 2016




So, if you get into another BMW, it kooks like you'll get a $300 credit + waiver of the $350 disposition fee.

This is really helpful, thanks!

Originally Posted by WHL102

Not sure, but BMW FS should be able to answer that. They are surprisingly well trained and helpful. These are "loyalty" benefits so I would assume any credits would be applied to your next purchase. If they cut you a check, and then you never took delivery, they would lose out. But, call to be sure.

(800) 578-5000

Originally Posted by b1st

Thanks for posting this! Is this credit a cash payment / credit towards my next car or credit towards damages? That's one of the things that seem unclear based on my googling. Believe it or not, my car is in perfect shape, no scratches and no dings. The tires might be an issue but I'd buy used tires and $300 credit won't offset the price difference.

I'd really like to know the answer to this too. My vehicle, while has normal wear and tear, is not in perfect shape. So that mileage credit would be great if offsetting the return cost.

[IndotagSwizz]

Originally Posted by b1st

My F30, leased 2.5 yrs ago is due in late July and I only have 18k miles on it. The total lease is for 30k miles. I don't drive much and I travel a ton so I will be hitting around 20k miles by the time my lease ends and I'll have paid for 10k miles that I won't be using. Good news is that my M4 is replacing it via ED, for which I've been counting down days

I could do a lot of roadtrips but I just don't have the time. I thought about selling it but it wouldn't make any sense because the buy out is like $32k and the value of my car is prolly around $27k. It's a decently-loaded 2013 328i.

I thought about doing something like FlightCar but I don't think those extra few bucks is worth the hassle or some stranger leaving my car dirty/smelly/damaged. Anyone been in similar situation before? Any good ideas on how I might take advantage of my the extra miles?

I'm about 30k over...feel free to donate them to me...its for a good cause

[jd_perspective]

Originally Posted by Mojo2016

You could also try to see if Carmax will buy the car from you. I've done this with other cars that had positive equity and made some money of the deal (they settle with BMWFS and give you a check for the difference). Given that BMW residuals are artificially high you may not have much equity, but it may worth a shot.

i second this.. try and sell for more than your buyout!

[WHL102]

Originally Posted by exl_ent_v6

i second this.. try and sell for more than your buyout!

+1

BMW FS will negotiate lease buyouts with dealers but not the customer, so always worth a try!

[b1st]

I highly highly doubt I'll be able to make money after the lease end by selling the car. Unlike the prev gen 3 series, the F30 seems to be not doing well residual-wise. The buyout of my 328i after the lease is $30.5k. I'd say my car with the following configurations with ~20k miles will be worth at most $27k at the time:

2013 328i
Auto
Mineral Metallic White
Premium Package
Navi
Heated Seat
A few other small options

It would have to be worth at least $32k for it to be worthwhile, and that's probably what a similarly equipped 335i would go for.

WHL102, thanks again!

[b1st]

Originally Posted by WHL102

+1

BMW FS will negotiate lease buyouts with dealers but not the customer, so always worth a try!

Interesting. I'll talk to them about this too although I'm pretty far-off. I'm just glad that I leased and not bought so BMWFS is taking the depreciation hit and not me

[Pauleebe]

Originally Posted by WHL102

+1

BMW FS will negotiate lease buyouts with dealers but not the customer, so always worth a try!

Also good to know..

For my pull-ahead offer, the dealer mentioned that BMWFS only wanted 22K for my vehicle but the residual was marked down as 25K.

I didn't validate either of these statements independently, but I also would be in the camp that F30's may not be worth more than their BMWFS stated residual value at lease inception. This may also be why residuals for 2016's are 2-4% lower than my 2013 was.

[NewM3driver]

Book a trip to Acadia Maine. The down east wilderness is pristine, the air fresh cool and clean, the lobsters delicious and the clams the sweetest you will find anywhere.