My nephew has an '07 318 series that he leased for 36 months, with a 30,000 mile cap. He has had it 9 months, and it has 21,000 miles. Is it possible for him to maybe go from the lease he is in, to BUY a BMW from the same dealership without getting the lease break fee? Will they still kill him for the miles he has on it so far?
2007-12-24 15:44:32 · 4 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Yes, he drives at least 70 miles per day, and it is a 3-series, the smallest one they make. He is 20 years old, and didn't think about how far over the mileage he was going, just that the car would get him a lot of girls.
2007-12-24 16:08:06 · update #1
First of all, he has to cut down on the miles. Second, forget about getting out of the lease, it'll cost way too much.
BMW has a program which will allow him to buy extra miles during the lease for .16 per mile. Tell him to either buy a heck of a lot of miles now, or try to get someone to assume the lease at: http://www.swapalease.com/
2007-12-24 16:29:56 · answer #1 · answered by jay 7 · 1⤊ 0⤋
You have the facts wrong... There is no such thing as 07 318 series..... and 21000 miles in 9 months means he drove 78 miles every day.... Did he really drive THAT much?
Lease is a contract. The bank owns the car and is letting your brother drive it for fee so that they can make money. They will usually NOT let you break the lease simply because he drives too much. That is something he should have thought of, before sigining the contract.
What IS possible is, at the end of the lease, he can BUY the car. When he does this, he will not be charged for excess mileage fee, BUT he will be paying for the car just as if the car has 30K miles on it. Of course, the car is worth far less. By then, it will have 120K miles (at this pace).
My suggestion would be to speak with the lease manager at the dealership. Don't expect too much from them though. Your brother has made a major mistake. (and the dealer has no incentive to "help you out.")
2007-12-24 23:52:58 · answer #2 · answered by tkquestion 7 · 1⤊ 0⤋
Getting out of a lease early, for any reason, is almost never a good idea. It's expensive and troublesome. Since your friend is driving so many miles, he should have purchased to begin with because he's essentially "using up" the entire value of the car over the term of the lease. However, he can correct the situation by waiting until lease-end and simply purchasing the car at that time. He'll be buying a "used-up" car but since he's the one that "used" it up, it's fair that he pays for it.
2007-12-25 08:05:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
He was stupid enough to lease a car and put as many miles as he does on it a year.
2007-12-25 09:32:09 · answer #4 · answered by Anonymous · 0⤊ 4⤋