Can you negotiate mileage overage on a lease?


Sharing is Caring


Some leases allow 15,000 miles, but more manufacturers are trimming the allowance to only 10,000 or 12,000 miles per year. If you think you’re likely to exceed the allowance, then negotiate for additional miles up front. This can save you a few cents per mile over the end-of-lease mileage charge.

How much do extra miles cost on a BMW lease?

Mileage limits vary depending on the contract. However, the average mileage limit is between 10,000 and 15,000 miles. If you surpass the limit, then fees average around 10 to 25 cents for each mile after the limit.

Will BMW negotiate lease buyout?

No. BMW Financial Services does not negotiate payoffs or residual values.

How long can I extend my BMW lease?

Lease extensions are available for up to 6 months from lease end. Schedule an appointment with us to talk through options, we’re here for you!

How much does it cost to add miles to a lease?

How much do the extra miles cost in a car lease? The extra miles on a leased car may not cost you as much as you may think since most companies charge 15 to 25 cents per mile for any overages. So while it is essential to monitor your miles on a leased car, going a few hundred miles over the limit won’t be too bad.

What if I go over mileage on lease?

Excess mileage Most leasing companies charge around 15 to 20 cents per mile over the amount allowed in the contract, commonly 12,000 miles per year. If you’re way over the allowed mileage and looking at a big penalty, you still have options. If you like the car, you can buy it rather than pay the mileage penalty.

How can I buy more miles on my BMW lease?

Need to go the extra mile? Purchase additional lease miles by calling 800-959-4269 or by signing in to My BMW.

How much more is a 15000 mile lease?

Typically, there is a 2% point difference between 12,000 miles and 15,000 miles. If you plan to drive more than the mileage specified in the lease you can pay for the excess mileage up front, or at the lease termination. Typically, paying for up-front mileage is less expensive.

How can I avoid paying extra miles on a lease?

One of the best ways to escape the over-limit fee is to negotiate a lease buyback at the end of the term if your budget allows. If you turn in your car and find you owe thousands of dollars in extra mileage fees, you may be better off just using that as a down payment for the vehicle.

Can I sell my leased BMW to Carmax?

Yes! In most cases, you can sell your leased car in almost the same way as any other financed car. We’ll appraise the car, then contact the leasing company for a payoff quote and process any equity you might have.

Is leasing a BMW worth it?

They are depreciating assets: Since you’re paying off the depreciation when you lease a car, it’s far better to lease a BMW as opposed to owning it since it will depreciate very quickly. You have the ability to obtain a more expensive vehicle for a lower monthly payment.

Can I sell my BMW lease to Carvana?

Will you buy out my leased vehicle? Yes, we can work with many leasing companies to help pay off your lease early (sometimes called a “lease buyout”). However, some leasing companies will not allow Carvana to buy out their leases early.

Does BMW allow lease transfers?

Fortunately, BMW is one of the most accommodating manufacturers to work with when it comes to early lease termination, as they allow for lease transfers.

How do I get my BMW payoff?

Call toll-free at 1 (866) 845-3079 (we accept relay calls). For international, call collect 1 (701) 461-2543.

Does BMW have a return policy?

Return information We offer you the right to cancel your purchase bought online, without having to provide any reason, within 60 days from the day after you have received your products.

Can I buy extra miles on my lease?

Leasing companies often allow lessees to buy some extra miles, but typically only at the start of the lease. If you’re a lessee who knows you’re going to exceed the typical mileage limit, then it’s a good idea to buy extra miles while finishing up the contract.

Why leasing a car is better than buying?

Lease payments are almost always lower than loan payments because you’re paying only for the vehicle’s depreciation during the lease term, plus interest charges (called rent charges), taxes, and fees. You can sell or trade in your vehicle at any time.

Is leasing a car a good deal?

Benefits of leasing usually include a lower upfront cost, lower monthly payments, and no resale hassle. Benefits of buying usually mean car ownership, complete control over mileage, and a firm idea of costs. Experts generally say that buying a car is a better financial decision for the long term.

How are excess mileage charges calculated?

The number of excess miles is calculated by subtracting the total permitted mileage over the duration of the contract from the actual mileage as recorded on the vehicle’s odometer.

What is the best thing to do at the end of a car lease?

These days, lessees have several options at the end of a car lease, including doing a lease buyout, buying out the car then reselling it, transferring the lease, doing a trade-in, or extending the lease. Before returning your leased vehicle, it’s important to first review your options.

Why are car leases so expensive now?

New car leases are more expensive due to a significant change in market conditions. An inventory shortage is making it harder to find popular vehicles, and manufacturer incentives are down. In some cases, automakers aren’t even bothering to advertise lease deals because cars are so hard to find at dealers.

Are high-mileage leases worth it?

A high-mileage lease allows you to drive more than the 10,000 to 15,000 miles you’re typically allotted when you lease a car. That can mean a higher monthly payment โ€” but it may be worth it. The fees you’d pay for exceeding your lease’s mileage cap could cost a lot more.

How many miles is a high-mileage lease?

A high-mileage lease is one that is written with a higher mileage limit to begin withโ€”usually 18,000 to 20,000 miles. That way, the lessee can drive further per year without running up against those expensive over-the-limit per-mile fees. The catch is that you will make higher monthly lease payments.

How does leasing a BMW work?

Leasing, in its simplistic description, is a “back end” loaded finance. You are borrowing the full purchase price of the vehicle with a BMW Financial Services set “buy- out”. There is a mileage restriction on all leases. These restrictions will play into whether you should lease or not.

Is 10000 miles a year enough for a lease?

It’s common for leasing contracts to have annual mileage limits of 10,000, 12,000 or 15,000 miles. If you exceed those mileage limits, you could be charged up to 30 cents per additional mile at the end of the lease.

Craving More Content?

  • Should I get xDrive?

    It’s worth choosing an xDrive BMW if you regularly drive on snow. Its four-wheel drive system essentially doubles the amount of grip the car has allowing…

  • Does BMW have a good resale value?

    Value Over Time: BMW 2 Series The BMW 2 Series holds its value even better, with the most accurate BMW resale value estimates expecting it to…

  • What is a standard scope service?

    The standard scope is just scanning the car with the GT1. There are many different aftermarket BMW scan tools available on the internet to choose from…

Carolina's BMW