Wanting to get rid of my lease.. Ideas?

DG20 · 07-21-2016, 01:03 PM

Im in a little bit of a dilemma. Im leasing my current car, a 4 series, and i have a little less than a year left on the lease, but i am already at my mileage (30k). I am looking at different options to get rid of the car now (selling, trade-in, etc..) so I can avoid extra mileage fees at the end of the lease. Does anyone have any ideas on what i can do? I am planning to get a 340i next (as the 2017 440i won't be LCI).

Thanks!

IndotagSwizz · 07-21-2016, 01:43 PM

any lakes or canals near you?

DG20 · 07-21-2016, 01:45 PM

Quote:

Originally Posted by IndotagSwizz

any lakes or canals near you?

alex2364 · 07-21-2016, 01:45 PM

If you're looking to save money, it'll be cheaper to pay for extra miles than to get rid of your car early. It's only $0.18 per mile so if you drive an extra 10,000 miles, it'll be $1,800.

Pauleebe · 07-21-2016, 02:08 PM

Quote:

Originally Posted by alex2364

If you're looking to save money, it'll be cheaper to pay for extra miles than to get rid of your car early. It's only $0.18 per mile so if you drive an extra 10,000 miles, it'll be $1,800.

3 and 4 series are $.25 per overage mile now:

http://www.bmwusa.com/special-offers...l-offers-legal

alex2364 · 07-21-2016, 02:15 PM

Quote:

Originally Posted by dwalls90

3 and 4 series are $.25 per overage mile now:

http://www.bmwusa.com/special-offers...l-offers-legal

Not leases signed before 2016.

BEM-S4 · 07-21-2016, 02:24 PM

Not that it's a huge deal but they tax that mileage $ too, just FYI.

Your best bet would be wait until fall and see if you can get a pull ahead. Think they are loosening up on those again, not sure about 4 series but believe for 3 you can get a 3 month pull ahead now.

Maxpnc · 07-21-2016, 03:03 PM

I thought you have the options to preemptively purchase extra miles in USA? You can also do "pull ahead" which allows you to turn in 6 month early if you signed another lease with BMW.

DG20 · 07-21-2016, 03:09 PM

I contacted multiple sales people at bmw and they all said that the pull ahead program isn't great now (im assuming it's only 3 months). And i read somewhere on my contract telling me that i can buy miles for 16 cents per mile! Might just have to do that, but im hoping that they have a 6 month pull ahead program so that i don't have to buy too many miles and so i can get into a 340i by December time

BEM-S4 · 07-21-2016, 03:20 PM

Quote:

Originally Posted by EB F32

I contacted multiple sales people at bmw and they all said that the pull ahead program isn't great now (im assuming it's only 3 months). And i read somewhere on my contract telling me that i can buy miles for 16 cents per mile! Might just have to do that, but im hoping that they have a 6 month pull ahead program so that i don't have to buy too many miles and so i can get into a 340i by December time

You should be fine in December. Even if the program isn't the 6 months you need many dealers will be willing to eat the extra couple of months to get you into a car before YE.

DG20 · 07-21-2016, 03:34 PM

Quote:

Originally Posted by BEM-S4

Quote:

Originally Posted by EB F32

I contacted multiple sales people at bmw and they all said that the pull ahead program isn't great now (im assuming it's only 3 months). And i read somewhere on my contract telling me that i can buy miles for 16 cents per mile! Might just have to do that, but im hoping that they have a 6 month pull ahead program so that i don't have to buy too many miles and so i can get into a 340i by December time

You should be fine in December. Even if the program isn't the 6 months you need many dealers will be willing to eat the extra couple of months to get you into a car before YE.

Ok thanks a lot!

spuntyb · 07-22-2016, 10:09 AM

Quote:

Originally Posted by BEM-S4

Quote:

Originally Posted by EB F32

I contacted multiple sales people at bmw and they all said that the pull ahead program isn't great now (im assuming it's only 3 months). And i read somewhere on my contract telling me that i can buy miles for 16 cents per mile! Might just have to do that, but im hoping that they have a 6 month pull ahead program so that i don't have to buy too many miles and so i can get into a 340i by December time

You should be fine in December. Even if the program isn't the 6 months you need many dealers will be willing to eat the extra couple of months to get you into a car before YE.

+1

Shop around a little. You'll find a dealer by then willing to get a car off the lot In exchange for eating part of your lease.

RPM1123 · 07-22-2016, 01:10 PM

Quote:

Originally Posted by dwalls90

3 and 4 series are $.25 per overage mile now:

http://www.bmwusa.com/special-offers...l-offers-legal

That is the lease turn in overage penalty - if you pay for the extra miles during your lease, it's $.18/mile for the 3 series. You need to pay a couple months before the lease is over though, you of course can't pay the lower number a month before your lease is due to get out of the $.25/mile charge.

RevToRed · 07-22-2016, 06:00 PM

Quote:

Originally Posted by IndotagSwizz

any lakes or canals near you?

Only works in south Florida...

Labeef · 07-24-2016, 03:25 AM

You can also do an early term. Sometimes depending on the vehicle, it will have equity and you will not owe or owe less. You can also wait till the monthly payment cost equals the extra mileage cost and early terminate then.

Portimao Blues · 07-24-2016, 09:43 PM

Quote:

Originally Posted by alex2364

If you're looking to save money, it'll be cheaper to pay for extra miles than to get rid of your car early. It's only $0.18 per mile so if you drive an extra 10,000 miles, it'll be $1,800.

+1

DG20 · 07-25-2016, 12:01 AM

Thanks a lot for the help guys! I think I'm going to buy like 5 or 6 thousand miles now and wait until December (6 months before my lease is up) and I'm going to shop around some dealers and see who is willing to take my car in 6 months early.

BEM-S4 · 07-25-2016, 08:16 AM

Quote:

Originally Posted by EB F32

Thanks a lot for the help guys! I think I'm going to buy like 5 or 6 thousand miles now and wait until December (6 months before my lease is up) and I'm going to shop around some dealers and see who is willing to take my car in 6 months early.

You may as well wait until you are going to trade the car to buy miles. If something happens to the car I t he mean time the extra miles you bought will be money you won't get back.

bimmercar · 07-25-2016, 08:47 AM

some dealers will waive the mileage overage if you lease a new car, plus you might be able to get lease pull ahead. maybe you can wait to buy the milage until you know better what your situation is

tturedraider · 07-25-2016, 09:19 AM

Quote:

Originally Posted by EB F32

I contacted multiple sales people at bmw and they all said that the pull ahead program isn't great now (im assuming it's only 3 months). And i read somewhere on my contract telling me that i can buy miles for 16 cents per mile! Might just have to do that, but im hoping that they have a 6 month pull ahead program so that i don't have to buy too many miles and so i can get into a 340i by December time

This is correct. As long as you purchase them at least one day before the lease matures you can buy them for 16 cents per mile. The price has gone up on new leases recently, but that won't apply to your contract.

DG20 · 07-25-2016, 09:51 AM

Alright so I think it's better to just buy the miles right before i trade in then, thanks guys!

07-21-2016, 01:03 PM	#1
DG20 Lieutenant Colonel 967 Rep 1,771 Posts Drives: M340i Join Date: May 2014 Location: Los Angeles, CA iTrader: (5)	Wanting to get rid of my lease.. Ideas? Im in a little bit of a dilemma. Im leasing my current car, a 4 series, and i have a little less than a year left on the lease, but i am already at my mileage (30k). I am looking at different options to get rid of the car now (selling, trade-in, etc..) so I can avoid extra mileage fees at the end of the lease. Does anyone have any ideas on what i can do? I am planning to get a 340i next (as the 2017 440i won't be LCI). Thanks! __________________ Instagram: @dg_g20
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07-21-2016, 01:43 PM	#2
IndotagSwizz Major 525 Rep 1,232 Posts Drives: F30 320i Join Date: Jan 2014 Location: Miami iTrader: (0)	any lakes or canals near you? __________________
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07-21-2016, 01:45 PM	#4
alex2364 Colonel 2862 Rep 2,754 Posts Drives: 2020 M4 ZCP / 2023 X3 M40i Join Date: May 2005 Location: Northern VA iTrader: (2) Garage List 2020 BMW M4 [10.00] 2023 BMW X3 M40i [10.00]	If you're looking to save money, it'll be cheaper to pay for extra miles than to get rid of your car early. It's only $0.18 per mile so if you drive an extra 10,000 miles, it'll be $1,800.
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07-21-2016, 02:24 PM	#7
BEM-S4 Major General 4516 Rep 8,942 Posts Drives: Dinan M235, Dinan Sport Wagon Join Date: Oct 2012 Location: Philadelphia iTrader: (5)	Not that it's a huge deal but they tax that mileage $ too, just FYI. Your best bet would be wait until fall and see if you can get a pull ahead. Think they are loosening up on those again, not sure about 4 series but believe for 3 you can get a 3 month pull ahead now. __________________ 2022 Macan S 2016 F31 328i xDrive Sport Wagon 2006 E46 330ci ZHP Convertible
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07-21-2016, 03:03 PM	#8
Maxpnc Enlisted Member 9 Rep 40 Posts Drives: 2016 F30 340i Join Date: Mar 2013 Location: Ontario iTrader: (0)	I thought you have the options to preemptively purchase extra miles in USA? You can also do "pull ahead" which allows you to turn in 6 month early if you signed another lease with BMW.
	Appreciate 1 Quote

07-21-2016, 03:09 PM	#9
DG20 Lieutenant Colonel 967 Rep 1,771 Posts Drives: M340i Join Date: May 2014 Location: Los Angeles, CA iTrader: (5)	I contacted multiple sales people at bmw and they all said that the pull ahead program isn't great now (im assuming it's only 3 months). And i read somewhere on my contract telling me that i can buy miles for 16 cents per mile! Might just have to do that, but im hoping that they have a 6 month pull ahead program so that i don't have to buy too many miles and so i can get into a 340i by December time __________________ Instagram: @dg_g20
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07-24-2016, 03:25 AM	#15
Labeef Captain 265 Rep 807 Posts Drives: 320I Sport/Xenon Join Date: Jul 2014 Location: Bay Area, CA iTrader: (0)	You can also do an early term. Sometimes depending on the vehicle, it will have equity and you will not owe or owe less. You can also wait till the monthly payment cost equals the extra mileage cost and early terminate then.
	Appreciate 1 Quote

07-25-2016, 12:01 AM	#17
DG20 Lieutenant Colonel 967 Rep 1,771 Posts Drives: M340i Join Date: May 2014 Location: Los Angeles, CA iTrader: (5)	Thanks a lot for the help guys! I think I'm going to buy like 5 or 6 thousand miles now and wait until December (6 months before my lease is up) and I'm going to shop around some dealers and see who is willing to take my car in 6 months early. __________________ Instagram: @dg_g20
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07-25-2016, 08:47 AM	#19
bimmercar Captain 182 Rep 765 Posts Drives: 340xi Join Date: Oct 2014 Location: Northeast US iTrader: (0)	some dealers will waive the mileage overage if you lease a new car, plus you might be able to get lease pull ahead. maybe you can wait to buy the milage until you know better what your situation is
	Appreciate 1 Quote

07-25-2016, 09:51 AM	#21
DG20 Lieutenant Colonel 967 Rep 1,771 Posts Drives: M340i Join Date: May 2014 Location: Los Angeles, CA iTrader: (5)	Alright so I think it's better to just buy the miles right before i trade in then, thanks guys! __________________ Instagram: @dg_g20
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