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G30 (2017 - Current)
The next generation 5 Series, chassis code G30, arrives at dealers in February 2017. Looking like a scaled down 7 Series and riding on the CLAR platform, the new 5 Series will have a focus on lightweight and sporty performance. Engines options will come from BMW's new B family for the 530 and 540 and a turbocharged V8 for the M550i. Read more about the 2017 5 Series

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  #1  
Old 09-12-2019, 01:29 AM
Gflores97 Gflores97 is offline
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Trade in lease

Anyone have any suggestions or ideas what to do to get rid of my 2017 bmw 540i m sport ? I did a 3 year lease with 12 a year but I passed my 36k miles already lol and I still have one more year any suggestions what is the best route to either get a new bmw so I don't have to pay so much when the lease is up ? Or something
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Old 09-12-2019, 05:51 AM
Autoputzer Autoputzer is online now
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Keep driving it. You've probably blindly stumbled into one of the few circumstances where a consumer lease of a BMW makes sense.

At $0.25/mile, the over-miles are the cheapest miles you'll have. 18k miles would be $4500. Also, you're going to need tires, either soon or at lease turn-in to avoid the excessive tire wear charge. That will be about $1200. If you get to 50k or 55k miles, you'd be on the hook for engine and cabin air filters and spark plugs, another $1000. You're also gong to have to get the oil changed every 10k miles for about $100. So, plan on having about $7k laying around close by when it's time to turn the car back in. If you aren't able to set aside $7k over a year, you shouldn't be leasing a BMW in the first place.
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Old 09-12-2019, 05:56 AM
BabyUnicornTaco BabyUnicornTaco is online now
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What is the purchase price at the end of the lease? Years ago I leased a Lexus and ended up purchasing it when I was more than 10,000 miles over. If the purchase price at the end of the lease is fair maybe you can purchase it rather than turn it in.


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Old 09-12-2019, 06:25 AM
Autoputzer Autoputzer is online now
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Originally Posted by BabyUnicornTaco View Post
What is the purchase price at the end of the lease? Years ago I leased a Lexus and ended up purchasing it when I was more than 10,000 miles over. If the purchase price at the end of the lease is fair maybe you can purchase it rather than turn it in.


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BMW's plugged that loophole...

https://www.bimmerfest.com/forums/sh....php?t=1281042
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Old 09-12-2019, 06:32 AM
BabyUnicornTaco BabyUnicornTaco is online now
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Originally Posted by Autoputzer View Post


Ouch. Not cool.


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Old 09-12-2019, 06:54 AM
jjrandorin jjrandorin is offline
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Op can purchase it at the end of the lease, OP just wont get a big adjusted discount.

OP there is no circumstance where you will "not lose so much money". Obviously your circumstances from when you leased the car to your driving habits changed (or you didnt plan very well) to not lease enough miles. There is no get out of jail free card. You WILL pay, no matter what you do. Your options:

1. Attempt to do a swap a lease. That wont work without a big (and I mean big enough to pay for the mileage overage + some) incentive from you. No one is going to want to swap into a car that is already over miles without having those miles AND the ones that they intend to drive paid for by the person trying to swap out of the car. So, that makes this a non starter for you.

2. Sell the car and get another brand / another BMW. When you go to sell the car, to either BMW or another brand, they will request a payoff from BMW. That payoff will be the sum total of ALL remaining payments left on your lease and any other charges on your lease. If to another brand, you will also pay a lease end termination fee of 300 or 350.. I forget exactly how much it is. Basically, you will be charged every payment you would have paid from now until the end of the lease. BMW will not give a special buy out price to a bmw dealer until 3 months from the end of the lease (90 days). I suspect the price of your payments over the next 12 months is more than what you would pay for mileage over that time.. AND you wont have the usage of the car.. so you will pay the same money and not have the car (and either outlay cash for that payment or bury it into the new car... both options not idea at all.

3. Just drive it and pre pay for the miles. The mileage pre pay will be .23 cents a mile. For 12k miles, that will be $2760. that is likely cheaper than the cost of your 12 remaining payments. Its also a fairly cheap cost per mile as @autoputzer mentions. This is by far the best option, as any other option will cost you more than this.

To repeat, there is no option where you "get out of paying the miles or something". Even if you get a new BMW, you WILL pay for those miles, one way or another. Even if you take the car to the end of the term, and a BMW dealer tells you "dont worry about the miles" you ARE paying for them (just in the price of the new car, not the old one). BMW does not "forgive" that amount of miles. What I would do if I were you would drive it until I am 90 days out from my lease end, then immediately either get a new BMW at that point or swap to another brand (knowing I will have to pay those last 90 days of payments unless BMW changes course between now and then).

One last bit of advice. Dont fall for any of those mail offers you will get from BMW within your last 6 months or so, talking about swapping into a new BMW for "similar pricing". Those are just advertising generation and no matter what they tell you, either above the line or below the line, you will still be paying for those miles, and the balance of your payments, unless BMW resurrects the "pull ahead" program which has not existed in an official manner (thus funded by BMW FS) in about 14 months or so.
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