# buying extra miles on lease



## scdgoofy (Oct 1, 2002)

Jon,
I just started a 3 yr lease with 12k miles. Does BMW FS allow you to "prepay" miles in the lease payments, or did I have to do that at lease inception?
Thanks... --Steve


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## Jon Shafer (Dec 15, 2001)

The "standard" mileage allowance for BMWFS leases
is 15,000 miles per year, over the term of your lease.

"Low-mileage" leases are either 12K/yr, or 10K/yr.
In those cases, the "excess mileage penalty rate" is .20/mi
for all but the 7-Series, which is now .25/mi.

You can "purchase" extra miles up front for only .15/mi
(.20/mi for the 7-Series). The maximum mileage for the 
term of any BMWFS lease is 100K mi. If you do not use
the "extra" miles that were "purchased" up front, you
are eligible for a full refund at maturity.

I strongly advise all lessees to sign up for the 
**actual** anticipated mileage...


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## GimpyMcFarlan (Aug 13, 2002)

*I second that...*

I'll second that motion from Jon! Buy the miles up front even though you might not use them. My 3 year lease is up this month and I have 44,000 left. This is just under the 15,000 per year standard set up at the beginning. I puchased 5,000 extra per year as part of the deal, so I'll be getting almost all of that money back. :thumbup: I'll probably just roll this money back into the financing deal for my 330Ci. 

BTW... Many thanks Jon for all of the info regarding lease calculations, security deposits, bank fees, etc, etc... You have made me feel much more comfortable with leasing overall. I now have a nifty spreadsheet I can use to look at all the variables! :thumbup:


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## scdgoofy (Oct 1, 2002)

*Too late?*

Gimpy, 
Sounds like I'm too late for this option though. The ink on my lease is already dry.

Plus, I'm only looking to get 15k miles, and if that is the "standard" lease, I can't imagine I'd get money back if I went under 45k total.

Does this sound right?

--goofy

(And I honestly think I'll be fine with 12k; I just don't want to leave her in the garage on weekends and take the wife's Tahoe for road trips.)


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## Jon Shafer (Dec 15, 2001)

*Re: Too late?*



scdgoofy said:


> *Gimpy,
> Sounds like I'm too late for this option though. The ink on my lease is already dry.
> 
> Plus, I'm only looking to get 15k miles, and if that is the "standard" lease, I can't imagine I'd get money back if I went under 45k total.
> ...


You only get a refund for "extra" unused miles purchased up front.


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