Perhaps this is old news, but on the Owner's Circle part of the BMWUSA website, there was a small item about the fact that BMWNA will allow lessors to buy additional mileage before the end of a lease, which would allow (I guess) a lessor to have lower costs at the end of the lease. Our BMW is owned by us, so this doesn't have much meaning to me, but since it seemed to be new information (2/2007), I thought others might find it of interest. Again this may be old news, but if it is, sorry.  |
| Reply » Attention Lessors: Mid-Term Mileage Adjustment |
I had heard the same thing...last year they let you do it as well. You just have to do it about 4 months or something like that before lease end. They will also let you buy miles right after you make your lease (or at any time before 4 months of lease end) at .16/mi vs the .15 if you do it with the dealer. It takes some number crunching, but depending on your MF you might come out better buying miles after the fact, in my case it wasn't. But what they do is allow you to buy miles after lease inception and then they will spread the cost of those miles among your remaining payments w/o having to carry the "interest" that would come on the residual reduction if you bought them up front. Kinda not important with MF's so low, but as they come up may be pertinent. Something to think about anyway.
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| Reply » Attention Lessors: Mid-Term Mileage Adjustment |
It is my understanding that miles at the end of a lease are $0.20 so you get a bit of a saving at $0.16.
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| Reply » Attention Lessors: Mid-Term Mileage Adjustment |
Quote: | It is my understanding that miles at the end of a lease are $0.20 so you get a bit of a saving at $0.16. | True for Z's, 3er's, 5er's and X's. 6er's and 7er's are 21 pennies for MAP instead of a quarter a mile.
Also, they can amortize that extra mileage or bill you at the end for MAP, too.
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| Reply » Attention Lessors: Mid-Term Mileage Adjustment |
What happens if you don't use all the miles you purchased? Do you get any money back?
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| Reply » Attention Lessors: Mid-Term Mileage Adjustment |
Quote: | What happens if you don't use all the miles you purchased? Do you get any money back? | If you buy miles through the MAP, you will not get a refund for any unused miles.
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Attention Lessors: Mid-Term Mileage Adjustment