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jermarlang
11-30-2009, 05:21 PM
I was amazed my dealer could not answer this question: If I lease with 10,000 miles a year, and I return it at 3yr lease end 10,000 miles under limit, do I get something back for not using all the milage?
Anyone get a refund , or credit for this?

BMW_GAL
11-30-2009, 05:41 PM
Hmmm....Interesting...One of my co-workers had the same lease with about less than 10,000 miles in 3 years as well, and they bought the car for what it was worth with the low miles, the year, and everything!! So maybe they'll purchase your car back from you and perhaps you'll end up on the plus in the end :)

roadkillrob
11-30-2009, 05:50 PM
No, there isn't ever a refund, it would be in your lease paperwork, but I have never seen a lease that gave you anything back, either use it or loose it. It may on the other hand be a bargaining tool if you have anything else wrong with the car that they want to charge you for, they may overlook it with the extra low mileage. Depending on your buyout and the current value of the car, if it is worth a bunch more than the buyout, then it might be worth buying and trading, but it is unlikely it will be worth more on a trade than your buyout (but worth looking into!)

the328
11-30-2009, 05:59 PM
I believe you should get some money back, I know I did. I returned my X3 with 23,000 instead of 30,000 and received $380.00 credit, basically they waived my disposition fee which was $350. + tax = 380.00. Things might be different in your state. I suggest that you talk to one of the lease return specialists.

jelliotlevy
11-30-2009, 07:02 PM
I was amazed my dealer could not answer this question: If I lease with 10,000 miles a year, and I return it at 3yr lease end 10,000 miles under limit, do I get something back for not using all the milage?
Anyone get a refund , or credit for this?

..........

A few months back, I turned in my wife's 330i (mine for the first two years, hers for the last year, where she put on maybe 3000 miles) with roughly 21,000 miles, vs. 36,000 allowable on the lease. I received no special credit for that, but got 'dinged' $100 for a tiny ding mark on a rear door. I did personally call BMW Financial Services, and after a brief request from me they sent me a check for that $100, which had been deducted from my security deposit: $500 deposit - $350 disposition fee - $100 originally gave me back $50 at end of lease. I did feel that my local dealer's sales manager was being chintzy, and that may affect future decisions; my 335i's lease is up in February 2011. That sales manager no longer works for the dealership, but the bad taste in my mouth lingers on.

Bill-SD
11-30-2009, 07:20 PM
You won't get any credit. As roadkillbob stated, you should see that in your lease contract.

Calif65GM
11-30-2009, 09:13 PM
It's use it or loose it.

SteveinBelAir
11-30-2009, 10:09 PM
I believe you should get some money back, I know I did. I returned my X3 with 23,000 instead of 30,000 and received $380.00 credit, basically they waived my disposition fee which was $350. + tax = 380.00. Things might be different in your state. I suggest that you talk to one of the lease return specialists.

Did you lease or buy another BMW within 6 months? Because they would have returned that $380 to you anyway.

Just wondering.

Fredric
11-30-2009, 11:23 PM
Not only did I not get any low-mileage refund at the end of my lease, but I paid a bit more in buying the car as it was worth more than it would have been had I used the full allotment of miles. However, I was able to buy it six months ago for substantially less than the residual in the contract.

Michael Schott
12-01-2009, 06:51 AM
With such low mileage I suggest you try to sell the car on your own. If you can get more than the residual spelled out on your lease you can make money on this deal. There are probably some hidden costs so read the contract carefully.

Thanks, Mike.

David1
12-01-2009, 07:18 AM
With such low mileage I suggest you try to sell the car on your own. If you can get more than the residual spelled out on your lease you can make money on this deal. There are probably some hidden costs so read the contract carefully.

Thanks, Mike.

He can't sell it (BMWFS owns the car) unless he buys the car and pays the sales tax. Or he knows someone that will do a pass through for him and let him keep the profit if any.

David1
12-01-2009, 07:21 AM
It's use it or loose it.

Correct. The only way you would be entitled to a credit is if you purchased miles past 15k a year and did not use them all.

Michael Schott
12-01-2009, 09:50 AM
He can't sell it (BMWFS owns the car) unless he buys the car and pays the sales tax. Or he knows someone that will do a pass through for him and let him keep the profit if any.

That's what I mean. He has to buy the car and resell it. If he can get enough due to the low miles it might be worth it. It's probably a long shot as BMW residuals are pretty high.

Thanks, Mike.

the328
12-01-2009, 03:13 PM
Did you lease or buy another BMW within 6 months? Because they would have returned that $380 to you anyway.

Just wondering.

I lease a 328 six moths before I returned my X3. In any case I have been told by the person who accepted my lease return that I will be getting some credits from BMW for my unused miles, it did sounded kind of unusual but I guess he was right.

E92-Lighting
12-01-2009, 04:37 PM
i doubt you will get a refund or credit but let us know the outcome

zoltrix
12-01-2009, 04:43 PM
Nah, you get nothing, sadly.

zoomlens
12-05-2009, 10:58 AM
I asked the same question to a Canadian dealer, and sadly, there is no credit for lower mileage than stipulated in the lease contract

hpowders
12-05-2009, 11:21 AM
When you negotiate a basic 3 year lease and you return the vehicle under the mileage limit, there is no credit for the unused miles. The disposition fee is waived on the returned vehicle if you are leasing or buying another BMW vehicle.

I returned a 2005 545i with 27,000 miles on it with a 36,000 mile limit. No credit for the unused 9,000 miles from BMWFS.

LivinSD
12-05-2009, 01:28 PM
That's what I mean. He has to buy the car and resell it. If he can get enough due to the low miles it might be worth it. It's probably a long shot as BMW residuals are pretty high.

Thanks, Mike.

I've done this 2 times via private party sale, and another time to a dealer, to get out early on a lease. Relatively simple. What is do is let BMW FS know you are selling private party and to send title directly to new owner. That way you avoid paying sales tax twice.

SARAFIL
12-05-2009, 01:43 PM
I've done this 2 times via private party sale, and another time to a dealer, to get out early on a lease. Relatively simple. What is do is let BMW FS know you are selling private party and to send title directly to new owner. That way you avoid paying sales tax twice.

That only works if your state has a window of time in which you can transfer ownership without paying tax. Most states do not allow this, but CA does.

In other states, you can not do an indirect transfer of ownership. BMWFS signs the title over to you, you must turn that title in to your DMV and get a new title in your name (and pay sales tax) before you can resell the car.

LivinSD
12-05-2009, 05:15 PM
^^ interesting... did not know CA had a tax "advantage" for ANYTHING:D

DonnaBlackson
12-05-2009, 05:26 PM
I was under mileage by about 12,000 miles or so... you get nothing for it... and it makes it harder to negotiate the car if you are considering buying out your lease because the car looks better to the dealer for other buyers.

jbailey895
12-05-2009, 08:31 PM
Hey whatcha got? On a lease return, the only way to make $ for under miles is to sell privately (at least in CA). I've made money this way before. The buyer just sends the bank (or BMWF) the payoff amt, and they give you a check for anything left.
I'm looking for a 6 spd coupe, any chance thats what you're turning in? ;-)
Joel

jusmills
12-05-2009, 09:02 PM
I believe you should get some money back, I know I did. I returned my X3 with 23,000 instead of 30,000 and received $380.00 credit, basically they waived my disposition fee which was $350. + tax = 380.00. Things might be different in your state. I suggest that you talk to one of the lease return specialists.

Won't most BMW dealers do this if you buy another car from them...I'm pretty sure that if you don't use the miles you lose them, but the dealer will win by being able to resell the car for more.

Boomer23
12-06-2009, 02:18 PM
To jbailey895 which engine are you looking for and can you wait a year? I have a 2008 328i coupe with 6 spd, sport, premium, parking sensors, space grey/white coming off lease in Jan 2011. I only have 12,500 mi on it in almost 2 years, so it'll probably have about 20k mi on it in 13 months when the lease expires.
One of the reasons I leased it is because I thought it might be harder to sell with a 6 spd. Any thoughts on this out there?

jbailey895
12-06-2009, 03:20 PM
Sorry, I'm looking for a E92/3 335 6sp. Wondering what the OP has though. . . :confused:

1985mb
12-06-2009, 06:16 PM
Won't most BMW dealers do this if you buy another car from them...I'm pretty sure that if you don't use the miles you lose them, but the dealer will win by being able to resell the car for more.

If your disposition fee is waived/returned for leasing another BMW w/in 6 months, I'm guessing that is coming from BMWFS, not any dealer.

Hawflake
03-11-2010, 04:34 PM
I believe you should get some money back, I know I did. I returned my X3 with 23,000 instead of 30,000 and received $380.00 credit, basically they waived my disposition fee which was $350. + tax = 380.00. Things might be different in your state. I suggest that you talk to one of the lease return specialists.

Are you sure that's what they did? My CA told me the disposition fee is wavied if you buy/lease another car from BMW.

krash
03-11-2010, 04:55 PM
Nah, you get nothing, sadly.

Yeah, nothing.

I'm turning in an '07 335 soon.

3 year lease. Only 24k miles, and only had to replace the HPFP once.
:D

I work from home and do a lot of business traveling (flying around the country)--so I really don't have a daily commute.

Plus, we always use the SUV when we travel as a family and go on long trips.

mclaren
03-11-2010, 07:53 PM
When I turned my '06 Z4 in with 23k on a 30k lease for the 135 they didn't charge me anything even though I'm sure it needed new tires. I believe on a low mileage turn in on a BMWFS lease they will forgive things.