Mile overage charges for a lease

Scrooge4277 · 03-20-2006, 01:35 AM

My lease contract (330i) says that any miles I drive over the allotted mileage will cost me .20/mile. I was just talking to my dad today, and he said that for his 545, he only pays .15/mile over and it was the same when he had a 3 series a few years ago. I have a 10k/year lease, but i'm a little concerned about going over. Is the mile overage charge set by BMW or does the dealer decide? What is everyone else paying?

NaTuReB0Y · 03-20-2006, 02:35 AM

sorry i can't help you with the question cause i didn't lease my car.......
but i am glad i didn't lease it or else i'll be paying overmileage like crazy.....
8 month old car with 13,000+ miles

carjon · 03-20-2006, 09:04 AM

It is set by BMW financial (assuming that is who is doing lease) - they own the car and set the terms.
This rate changed a few years ago from .15 to .20 but can't remember exactly when. I think that is pretty standard now - it is the downside of leasing, if you drive too much you pay, but they base residual on mileage of the vehicle when returned.

Local state property tax used to be included in many leases - not any more.

KL2DC · 03-20-2006, 09:09 AM

If I recall correctly...if you are expecting an overrun on mileage, you can purchase miles from BMW Financial (from the OC site) at a rate of $0.16 per mile...slightly less than at the end of the lease ($0.20). I believe you have until 3 months before the lease end to pre-pay/purchase the extra miles...more details (including lease buyout) is available from BMW OC (I believe you can make payments etc)

Btw Scrooge4277 ... still waiting for your SG 330i pics

Scorviss · 03-20-2006, 01:19 PM

When I picked my car up, leased, the dealer told me you can only buy additional miles from ten months into the lease, up until ten months before the lease ends, so if you only have a 24 month lease it gives you a four month window to purchase miles.

Scrooge4277 · 03-20-2006, 01:30 PM

Quote:

Originally Posted by KL2DC

Btw Scrooge4277 ... still waiting for your SG 330i pics

Still waiting for my car! I had to go to NY for a week so I'm going to pick up my car this thursday night. I'll get those pics soon!

KL2DC · 03-20-2006, 02:20 PM

Quote:

Originally Posted by Scrooge4277

Still waiting for my car! I had to go to NY for a week so I'm going to pick up my car this thursday night. I'll get those pics soon!

ok

03-20-2006, 01:35 AM	#1
Scrooge4277 Private 8 Rep 57 Posts Drives: 335xi Join Date: Feb 2006 Location: Minneapolis iTrader: (0)	Mile overage charges for a lease My lease contract (330i) says that any miles I drive over the allotted mileage will cost me .20/mile. I was just talking to my dad today, and he said that for his 545, he only pays .15/mile over and it was the same when he had a 3 series a few years ago. I have a 10k/year lease, but i'm a little concerned about going over. Is the mile overage charge set by BMW or does the dealer decide? What is everyone else paying?
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03-20-2006, 02:35 AM	#2
NaTuReB0Y Powered By 36DD 366 Rep 7,369 Posts Drives: 2006 E90 Join Date: Jul 2005 Location: Inland Empire iTrader: (12)	sorry i can't help you with the question cause i didn't lease my car....... but i am glad i didn't lease it or else i'll be paying overmileage like crazy..... 8 month old car with 13,000+ miles __________________ 2006 E90 330i Jet Black \| 20" WORK VS-XX \| FK452 \| H&R Sport on Koni Yellow \| REMUS QUAD
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03-20-2006, 09:04 AM	#3
carjon First Lieutenant 7 Rep 349 Posts Drives: 328xi Sedan Join Date: Feb 2006 Location: CT iTrader: (0)	It is set by BMW financial (assuming that is who is doing lease) - they own the car and set the terms. This rate changed a few years ago from .15 to .20 but can't remember exactly when. I think that is pretty standard now - it is the downside of leasing, if you drive too much you pay, but they base residual on mileage of the vehicle when returned. Local state property tax used to be included in many leases - not any more. __________________ 2011 328xi black on black. Nav, connect, apps, Sirius.
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03-20-2006, 09:09 AM	#4
KL2DC Moderator 326 Rep 17,767 Posts Drives: F36 428i,E90 328i, E85 Z4 3.0i Join Date: Jan 2006 Location: DC Metro iTrader: (23) Garage List 2015 F36 428i [0.00] 2011 E90 328i [0.00] 2006 E85 Z4 3.0i [0.00]	If I recall correctly...if you are expecting an overrun on mileage, you can purchase miles from BMW Financial (from the OC site) at a rate of $0.16 per mile...slightly less than at the end of the lease ($0.20). I believe you have until 3 months before the lease end to pre-pay/purchase the extra miles...more details (including lease buyout) is available from BMW OC (I believe you can make payments etc) Btw Scrooge4277 ... still waiting for your SG 330i pics __________________ Official DC Metro Registry - Current, New & Prospective Area Members Roll Call!
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03-20-2006, 01:19 PM	#5
Scorviss Private First Class 55 Rep 168 Posts Drives: OG M2, G80 on order Join Date: Jan 2006 Location: Silicon Valley iTrader: (1)	When I picked my car up, leased, the dealer told me you can only buy additional miles from ten months into the lease, up until ten months before the lease ends, so if you only have a 24 month lease it gives you a four month window to purchase miles. __________________ I like cars
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