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  #1  
Old 12-30-2012, 09:36 PM
Ducker Ducker is offline
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Cant stop driving...help

I leased a 2013 328i w/12k miles a year. Its so much fun driving this car I just know im going to have a terrible time keeping it under 12k miles.

I know they mentioned that we can buy miles for 16 cents a mile. That doesnt seem bad at all to me.

Does anyone have experience buying addtional miles? Is there a limit to buying extra miles?
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Old 12-31-2012, 06:12 AM
fb88 fb88 is offline
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Does extra miles have no impact on residual %? Since it's a fixed amount per mile, the higher MSRP your vehicle the more "saving" you get with buying extra miles.
12k -> 15k a year is 2% or 3% extra on residual reduction.
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Old 12-31-2012, 11:58 AM
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akaMomo akaMomo is offline
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I think the MSRP needs to be pretty large to gain in the way you are suggesting. In fact I don't think you can't get to the MSRP needed to realize a savings if you are talking 3-series.

The residuals are "base" at 15k/yr. On a 36 month lease on a 3-series right now, going to 12k/yr is a 2% additional to the residual value and going to 10k/yr is 3% additional from the base.

Comparing 15k usage either bought up front or at .20 a mile: 3000 miles extra miles A YEAR on a 12k lease cost $1800 paid later (3000*3*.20). So the MSRP has to be greater than $90k (2% of which is $1800) for this to save you money - did I do that correctly?

If you do the same for 10k to 12k, the difference is $1200 bought later or a cost of 1% up front -- ie less than $120k MSRP ends up costing more buying them at lease return.

I suppose you are financing the depreciation, so there is an inflated price from my math but I think it gives some kind of idea unless I totally screwed it up...

Anyone care to have a look.

Bottom line is if you are sure you are using the miles its better to get them upfront. Its not the end of the world to pay later but there is a price penalty. Makes sense to structure it this way or else the wisdom would be to go 10k/yr always an just pay the overages.

Last edited by akaMomo; 12-31-2012 at 12:11 PM.
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Old 12-31-2012, 12:02 PM
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CE750Jockey CE750Jockey is offline
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I think you have it about right. It is cheaper upfront than during the term or after turn in.
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Old 12-31-2012, 12:54 PM
pony_trekker pony_trekker is offline
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Quote:
Originally Posted by Ducker View Post
Is there a limit to buying extra miles?
Only set by your wallet.

I did it when I went over my last lease. Online calculator lets you figure it out pretty easily.

Last edited by pony_trekker; 12-31-2012 at 12:55 PM.
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