Anyone leasing with 15K or more annual miles?

[Blixen]

Wondering if anyone has any information or insight on leasing an i3 with a higher annual mileage allotment or on additional mileage charges. Most of the i3 leases I’ve seen broken out are for 10K or 12K annual miles. We will probably be putting more like 20K on our i3 annually, so it would seem we’d want a lease with at least a 15K allotment and more if available. Can anyone provide an example of a higher mileage lease they’ve negotiated, including how the residual was affected? Or has anyone been offered additional miles at a pre-purchase discount? We’ve only seen additional miles quoted at $0.20/mile.

Of course, 20K+ annual miles might normally argue for buying outright, but we are concerned about resale value, given the likely changes in available EV technology/range by 2018. The range of the i3 obviously isn’t ideal for us, and we will be more than ready for a vehicle with greater range in 2 and 1/2 years. The current offers from BMW also don’t seem to favor purchasing. We are tentatively targeting a 30-month lease to capture the CA incentive, and plan to do the maximum MSDs, with all costs rolled in/no money down.

Thanks in advance for any input or advice.

 

[Jeffj]

I believe (though I don't have a lease to verify) that BMW was offering 16 cents a mile for overage on 12K leases. In that scenario, its hard to justify buying, especially if the extra 8K miles are only going to cost you $1280/year or $106/month.

Even at .20/mile, its still a pretty big bargain to lease and pay the overage.

 

[i3atl]

I don't have the 30 month numbers, but for 24 months the residuals are 60/62/63% for 15/12/10K respectively.

You can pre-pay any extra miles, at any point before you turn your car in, for $0.16/mile.

http://www.bmwusa.com/Standard/Content/FinancialServices/mileage_adjustment_program.aspx

 

[moolman]

You should get the 15K a year lease and then buy the miles, I've done that before too when I needed 18K a year on a lease.

The extra miles, just lowers the residual, so worse case if you end up buying the car, it works out.

For 15k, it's 50/55/60% for 36/30/24 month leases, There's not a big advantage of one over the other because it's a linear. Sometimes they do things like the 30 and 36 residual will be really close, making the 30 cheap but for this car it's not.

 

[Blixen]

Jeffj, i3atl, and moolman, thank you very much for your replies. I didn’t know about the Mileage Adjustment Program at $0.16/mile, so that’s a big help. It’s also helpful to be able to compare the residuals, so thanks for those.

Based on the information you supplied, and another recent posting to the forum, I’m assuming the following residuals. (Anyone please feel free to correct any errors you see.)

15K, 36 month residual: 50%
15K, 30 month residual: 55%
15K, 24 month residual: 60%

12K, 36 month residual: 52%
12K, 30 month residual: 57%
12K, 24 month residual: 62%

Does anyone know if the base money factor is still sitting at 0.000128? I’ve also seen 0.00013 reported, and of course haven’t seen anything specifically for August anywhere yet. It seems particularly important to know this, since it’s my understanding that it’s frequently marked up; I’d like to know if and how much it’s being marked up in a given lease offer.

Thanks again for your help!