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Old 02-24-2008, 03:57 PM   #33
TambourineMan
E90Fanatic
 
Join Date: Jul 2007
Location: Born in ME, In exile in MA
Posts: 6
Quote:
“I drive too many miles to lease.” You can still benefit from leasing if you can keep your mileage under 100,000 in any term (at least that’s the way it is for BMW).
Can you elaborate on this?

I was planning to buy because I am a high mileage driver. On my current cars I am running about 20,000 miles per year.

If I leased I would lean toward buying it at the end of the lease, or I guess there is also an option to do a new lease or an extension? If I purchase, wouldn't the used car loan interest rate be substantially higher than for a new car, or is it different for BMW's?

I guess I can buy the extra miles at $0.15 a mile but I am not sure if I need to pay that up front, include the pro-rata with my payment, or wait till at least 4 months before lease end (or before going over the included miles?). For 30,000 extra miles the out of pocket cost is $6,000. I realize the extra miles will decrease a financed car's value.

If I turn it in with high miles, would BMW be more apt re-sell me the car at a lower market value?

But then there is the problem of exceeding the 50,000 mile warranty. If I finance I can consider extending it to 100,000 as it would have either value to me, or presumably a plus with respect to any trade-in amount. I don't want to be in a lease without a warranty.

How does extending the warranty work for a lease? It is available to original owners, but I am not an owner. Is the covered the same as the original 4yr/50k?

Then there is the question of tires. I have never had run flats, nor a BMW for that matter. I was planning to at least use them until they wore out. If I buy I have the option of buying normal tires should I not like the RFT's. But with a lease I am locked in to RFT's I suppose I could replace the RFT's before the thread is below the lease turn in amount and store them and remount them for the turn in. In any case at this mileage level I will need another set of tires and maybe two.

Any insights would be appreciated.
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