# Buying extra miles on lease



## lilskel (Jun 10, 2005)

What are the guidelines for purchasing additional miles before your lease ends? 

Is it $.20/mile at lease end and $.15/mile up until six months prior to lease end?

If I bought say 4,000 miles six months before lease end for $600, and then only used 2,000 of those miles, would they refund me $300 at lease end?


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## jvr826 (Apr 22, 2002)

As I understand it, you must buy the extra miles at lease inception, at the discounted price. And, you can only do that if you're doing 15k miles per year. If you buy more than you use, you get a refund for the unused mileage when you turn the car in.

This was my understanding in 2005 when I leased my car.


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## lilskel (Jun 10, 2005)

I know that's how it works on 15k miles per year as there are no residuals that cover anything more than that, but they do offer a discount if purchased at least six months prior to lease end, I would just like to know if you get the same refund if you purchase too many


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## Bigbadbull (May 21, 2008)

It depends on Whom financed you lease, and what state you live in. In GA/ AL if you get it threw BMWFS you can buy miles up to I think the last 90 days of the lease ( or in the 90-120 period) at a discounted rate. After that you are SOL and get hit with overages ( higher milage rate) if you go over. This may be newer and only on certian models,leases, etc. 

The dealers finance officer you delt with should have gone over this with you before you were handed the keys... You also should be able to look it up on your lease paper work.


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## caveatesq (Jun 23, 2005)

lilskel said:


> What are the guidelines for purchasing additional miles before your lease ends?
> 
> Is it $.20/mile at lease end and $.15/mile up until six months prior to lease end?
> 
> If I bought say 4,000 miles six months before lease end for $600, and then only used 2,000 of those miles, would they refund me $300 at lease end?


Here's what I've recently been told by BMW Financial Services for my wife's 530xit: $0.16/mile so long as at least 4 months remaining on the lease. Can be paid up front or added to remaining monthly payments. No refund if unused.


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## gokartmozart (Oct 6, 2006)

caveatesq said:


> Here's what I've recently been told by BMW Financial Services for my wife's 530xit: $0.16/mile so long as at least 4 months remaining on the lease. Can be paid up front or added to remaining monthly payments. No refund if unused.


Same here with BMWFS. Also told by CA that no other luxury car manufacturer offers such an option.


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## mkh (Mar 24, 2003)

caveatesq said:


> Here's what I've recently been told by BMW Financial Services for my wife's 530xit: $0.16/mile so long as at least 4 months remaining on the lease. Can be paid up front or added to remaining monthly payments. No refund if unused.


This is the correct answer!! :thumbup:


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## lilskel (Jun 10, 2005)

Bigbadbull said:


> It depends on Whom financed you lease, and what state you live in. In GA/ AL if you get it threw BMWFS you can buy miles up to I think the last 90 days of the lease ( or in the 90-120 period) at a discounted rate. After that you are SOL and get hit with overages ( higher milage rate) if you go over. This may be newer and only on certian models,leases, etc.
> 
> The dealers finance officer you delt with should have gone over this with you before you were handed the keys... You also should be able to look it up on your lease paper work.


Umm...thanks?



caveatesq said:


> $0.16/mile so long as at least 4 months remaining on the lease. Can be paid up front or added to remaining monthly payments. No refund if unused.


Thanks, that's what I was trying to figure out the refund part, I believe it is $.15 + tax so basically $.16..


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## BMWFanboy (Apr 27, 2008)

I might be completely wrong but I thought I read somewhere that if you buy the extra miles up front you do get a refund for unused miles.


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## lilskel (Jun 10, 2005)

BMWFanboy said:


> I might be completely wrong but I thought I read somewhere that if you buy the extra miles up front you do get a refund for unused miles.


Upfront is different, if you do a 15k/yr lease and purchase additional miles at signing, yes you get a refund if unused..my question is on a 10/12/15k per year lease that you don't purchase up front, you are still allowed a discount up until 4 months prior to lease end..the question is regarding that scenario if 4 months prior you purchase too many, will you be refunded..seems that the answer is no, but I will call just to make sure.

I ask because I'm leasing another car next month and am trying to decide between a 10k and 12k lease


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## Calif65GM (Mar 27, 2005)

lilskel said:


> Upfront is different, if you do a 15k/yr lease and purchase additional miles at signing, yes you get a refund if unused..my question is on a 10/12/15k per year lease that you don't purchase up front, you are still allowed a discount up until 4 months prior to lease end..the question is regarding that scenario if 4 months prior you purchase too many, will you be refunded..seems that the answer is no, but I will call just to make sure.
> 
> I ask because I'm leasing another car next month and am trying to decide between a 10k and 12k lease


I paid for 9000 miles upfront @ the 15-cents beyond 15K/yr, but I wonder if the rules work the same on 10 and 12K leases because that's actually affecting the residual. My extra miles just simply reduced my residual by the $1350.

Because there is no residual rates offered beyond 15K.

If you think about it, if they were to allow you to pay the 16-cents/mile before lease end on a 10K to get to 12K then the cost is $320 (2000 x 0.16) before taxes.
But I think the residual difference on the 2 leases works out to more than $320.

Let's just say on a MSRP of $50000 and the 10K residual is 65% and the 12K residual is 63% that works out to $1000.

My 2-cents


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## Kzang (Apr 12, 2006)

So you can only purchase additional miles only if you have a 15k/year lease?

I was told by my CA that I could purchase additional miles 4 months prior to my lease end on my 12K/year lease as well at $.16 per mile.


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## Calif65GM (Mar 27, 2005)

Kzang said:


> So you can only purchase additional miles only if you have a 15k/year lease?
> 
> I was told by my CA that I could purchase additional miles 4 months prior to my lease end on my 12K/year lease as well at $.16 per mile.


No idea was just throwing something out.


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## lilskel (Jun 10, 2005)

Calif65GM said:


> I paid for 9000 miles upfront @ the 15-cents beyond 15K/yr, but I wonder if the rules work the same on 10 and 12K leases because that's actually affecting the residual. My extra miles just simply reduced my residual by the $1350.


This thread has gotten confusing...yes you are correct about that, but you cannot do that on leases less than 15k/yr.



Kzang said:


> I was told by my CA that I could purchase additional miles 4 months prior to my lease end on my 12K/year lease as well at $.16 per mile.


Yes you can do that, I believe its $.16 plus tax as opposed to what I said eariler of $.16 inculding the tax...the guys who can buy them upfront for $.15 more are only those who have a 15k lease, and the overage is refundable... I'm trying to get to the bottom of the refund ability of the 4months prior to end thing on any type of lease..doesn't look like they are refundable but you should have a good idea 4 months out how many you need to purchase.

I'm asking because I'm planning to take the risk of getting a 10k lease...if I drive 12k per year it's only about $150 more to pay for the miles as long as I buy them 4 months before the end...that's an ok risk for me as I only drove about 11k miles for the past few years


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## want_a_7 (Apr 4, 2006)

I was told that if you bought the miles up front at the beginning of the lease the unused portion that you purchased (above the 15k per year) is refundable. If you opt to buy the miles after your lease is going (up to 4 months prior to lease end) they are NOT refundable if not used. So if you go the later route you need to be very careful not to buy to many as it will be $$ lost.


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## Orient330iNYC (Jul 30, 2002)

Calif65GM said:


> I paid for 9000 miles upfront @ the 15-cents beyond 15K/yr, but I wonder if the rules work the same on 10 and 12K leases because that's actually affecting the residual. My extra miles just simply reduced my residual by the $1350.
> 
> Because there is no residual rates offered beyond 15K.
> 
> ...


the difference between a 10K and 12K lease is 2K miles per year. so it would be 640/960 more for the miles depending on if its a 2 or 3 year term


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## JT 550i SD (Apr 25, 2005)

*Correct*



BMWFanboy said:


> I might be completely wrong but I thought I read somewhere that if you buy the extra miles up front you do get a refund for unused miles.


I have a 60K 36 mo. lease, 5K extra per yr. Will use only 54.5K miles, and recieve a refund for difference @ .15/mi. Yes, this is through BMWFS.

I knew 15K /yr would not be enough, so w/ 5K extra per yr @.15/mi so I bought them up front.

This still applies as Im doing on my new 550i that arrives next week.


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## jmsod (Nov 27, 2007)

*Some answers....*

I know that you can buy additional miles after the lease inception and I believe you can do so up until 2 (or 3) months priotr to lease end. I am not sure of the cost of miles, but I do know that the price to buy extra miles before lease inception and during your lease is the same. Call BMW FS.


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## jmsod (Nov 27, 2007)

*You will get a refund for unused miles?!*



JT 545i SD said:


> I have a 60K 36 mo. lease, 5K extra per yr. Will use only 54.5K miles, and recieve a refund for difference @ .15/mi. Yes, this is through BMWFS.
> 
> I knew 15K /yr would not be enough, so w/ 5K extra per yr @.15/mi so I bought them up front.
> 
> This still applies as Im doing on my new 550i that arrives next week.


Are you sure about that? Is this the case only if you lease/buy another BMW at lease end?


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## Kzang (Apr 12, 2006)

Well Im at 36,400 miles on my 2007 525i and I have a 12K miles per year lease. I had to commute 60 miles round trip for a year and half which caused most of that miles.

I anticipate driving another 12,000 - 13,000 miles until June 2009 (Lease end) so when should I contact BMWFS to purchase additional 13,000 miles? Any suggestions?
Thanks.

13,000 * $.16 = $2,080.


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