BimmerFest BMW Forum banner
1 - 13 of 13 Posts

·
Registered
Joined
·
13 Posts
Discussion Starter · #1 ·
Hi,

I was told when I was leaving my car that I could change the mileage allowance on my lease during the lease. I was told specifically I would be asked after the first year.

Is this true? I'm 3 months in and think maybe I should go for the 15k even though I probably don't need it but may need more than 12k.

Anyone know if this is a possibility?
 

·
Registered
Joined
·
6,203 Posts
Hi,

I was told when I was leaving my car that I could change the mileage allowance on my lease during the lease. I was told specifically I would be asked after the first year.

Is this true? I'm 3 months in and think maybe I should go for the 15k even though I probably don't need it but may need more than 12k.

Anyone know if this is a possibility?
Read your lease! All 4' of it. Too late to change your mind.
 

·
Registered
Joined
·
1,074 Posts
If your lease is with BMWFS going with the lower mileage is the smart move. You can buy miles at the same lease rate 6 months before lease end if needed.

Check with BMWFS on the 6 month thing that is what I recall it could 90 days.
 

·
Registered
Joined
·
2,105 Posts
If your lease is with BMWFS going with the lower mileage is the smart move. You can buy miles at the same lease rate 6 months before lease end if needed.

Check with BMWFS on the 6 month thing that is what I recall it could 90 days.
6 months remaining on least you can renegotiate to 15...Trust me it's really easy and BMW financial is good about it,no worries here.:thumbup:
 

·
Registered
Joined
·
13 Posts
Discussion Starter · #5 · (Edited)
If your lease is with BMWFS going with the lower mileage is the smart move. You can buy miles at the same lease rate 6 months before lease end if needed.

Check with BMWFS on the 6 month thing that is what I recall it could 90 days.
I don't think its the same lease rate though.

it's 15cents a mile with the discount.

Let's say I want to go from 12k to 15k a year. that's 3000 miles a year.

That's .15 x 3000 = $450

450 / 12 = $37.5

Now I think if you were to compare the monthly price between a 12k lease and a 15k lease, the price would have only been around 10-15 dollar a month, not 37.5. Please correct me if i'm wrong. Thank you.
 

·
Flying monkey herder
Joined
·
8,215 Posts
I don't think its the same lease rate though.

it's 15cents a mile with the discount.

Let's say I want to go from 12k to 15k a year. that's 3000 miles a year.

That's .15 x 3000 = $450

450 / 12 = $37.5

Now I think if you were to compare the monthly price between a 12k lease and a 15k lease, the price would have only been around 10-15 dollar a month, not 37.5. Please correct me if i'm wrong. Thank you.
if you do the math, its not 10-15 per month, depending on your rv and msrp, its around 30 a month.

you cannot change the terms of your lease after a year, you can buy more mileage at 16c per mile. that is your only option (if your lease is through bmwfs, i have no idea what other banks do)
 

·
Registered
Joined
·
1,900 Posts
When I leased my car (12k miles a year) I was told that I could easily extend the lease mileage anytime during my lease if I wanted. Doesn't look like I will have to, but it's nice to know I can. I am not sure if I could decrease it though. Don't see why... but not sure.
 

·
Freedom isn't free!!
2018 Glacier Silver 340i M Sport
Joined
·
20,099 Posts
you cannot change the terms of your lease after a year, you can buy more mileage at 16c per mile. that is your only option (if your lease is through bmwfs, i have no idea what other banks do)
The only correct answer posted.
 

·
Registered
Joined
·
2,590 Posts
Not what I was told by my sales manager. I specifically asked him to repeat himself as I was surprised any changes were allowed. My lease is in fact through BMWFS.

Maybe the sales manager was wrong, or he neglected to specify during the first year. I'll have to re-read my lease papers. :rofl:
Anything someone tells you that's not written in the contract never happened.
 

·
Salz und Pfeffer
Joined
·
965 Posts
From horse's mouth:
https://www.bmwusa.com/Secured/Content/Info/IFAQ.aspx
Can I buy more lease miles?
Yes, you can buy additional lease miles at a discounted rate, as long as you have at least 120 days till the end of your lease. Click "Lease Account Overview" in the left hand toolbar for the Financial Services account you wish update. Then click "Buy Lease Miles", to view your purchase options.
As of right now the rate is $.16/mile vs $.20/mile during the lease turn-in
 

·
Flying monkey herder
Joined
·
8,215 Posts
Not what I was told by my sales manager. I specifically asked him to repeat himself as I was surprised any changes were allowed. My lease is in fact through BMWFS.

Maybe the sales manager was wrong, or he neglected to specify during the first year. I'll have to re-read my lease papers. :rofl:
he glossed over the details. you cannot change your lease contract from 10 to 12 or from 15 to 10, etc etc, as they would need to rewrite the whole thing-- residual value changing, etc.

what he really meant was that you can buy additional miles at any point during the lease without having to pay the overage penalty rate of 20c per mile.
 

·
Registered
Joined
·
6,203 Posts
I should have said: Read your BMWFS lease.
 
1 - 13 of 13 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top