Mileage on lease questions.
01-03-18, 12:13 PM
#1
Driver School Candidate
Thread Starter
Mileage on lease questions.
Recently leased a 2018 GX 460 with sport package with 3yr/36k mileage.
The mileage overage is .25, which seems pretty steep and something I should have negotiated in the finance office but didn't.
My question is: has anyone gone ahead and changed their lease to 45K or did you just roll the dice and pay the overage?
I just don't want to be concerned about every time we drive the car that I'm getting closer to the limit and paying the overage.
thanks
The mileage overage is .25, which seems pretty steep and something I should have negotiated in the finance office but didn't.
My question is: has anyone gone ahead and changed their lease to 45K or did you just roll the dice and pay the overage?
I just don't want to be concerned about every time we drive the car that I'm getting closer to the limit and paying the overage.
thanks
01-06-18, 09:47 AM
#3
I've leased two BMWs in the past and both times they would have allowed me to purchase addition miles during the lease term at a discounted rate. I took that option once and it saved me a few hundred dollars.
So YES, i would contact Lexus and see if they offer the same thing for your lease. If my memory is correct, they just rolled the extra mileage purchase into my montly payments (when I was several months from the end of term). I thought it was a much better deal as the rate per mile was reduced AND it was spreadout over my remaining payments (otherwise you will have a lump sum to pay at the end of the term).
Uh, before I hit "Post Quick Reply" I did a quick Google search and found this:
https://m.lexusfinancial.com/pub/sta...e_end/faq.html
Doesn't look too promising for you, sorry about that. I'd still call the Dealer and see if they have any information to offer. Tell them BMW and all the other premium brands have options. From a BMW Dealer, "The Extra Mileage Purchase Policy allows you to purchase extra mileage at a discounted rate. Please contact our Lease Portfolio Manager, Chris Lorentzen, at: 949-387-8216, or BMW Financial Services directly: 800-578-5000, for more information on Mid Term Mileage Adjustments."
Good luck!
So YES, i would contact Lexus and see if they offer the same thing for your lease. If my memory is correct, they just rolled the extra mileage purchase into my montly payments (when I was several months from the end of term). I thought it was a much better deal as the rate per mile was reduced AND it was spreadout over my remaining payments (otherwise you will have a lump sum to pay at the end of the term).
Uh, before I hit "Post Quick Reply" I did a quick Google search and found this:
https://m.lexusfinancial.com/pub/sta...e_end/faq.html
Doesn't look too promising for you, sorry about that. I'd still call the Dealer and see if they have any information to offer. Tell them BMW and all the other premium brands have options. From a BMW Dealer, "The Extra Mileage Purchase Policy allows you to purchase extra mileage at a discounted rate. Please contact our Lease Portfolio Manager, Chris Lorentzen, at: 949-387-8216, or BMW Financial Services directly: 800-578-5000, for more information on Mid Term Mileage Adjustments."
Good luck!
01-06-18, 11:51 AM
#4
If you are paying your lease on time you will very likely get the Payment Waiver offer a
couple months before maturity. Usual offer is to forgive up to three (3) payments. This
will work nicely with an over miles car because you still get the contracted miles (36K
in your case) but turn it in at 33 months. The car will still be inspected so damage
beyond normal wear and tear will count but the mileage penalty will be curtailed.
couple months before maturity. Usual offer is to forgive up to three (3) payments. This
will work nicely with an over miles car because you still get the contracted miles (36K
in your case) but turn it in at 33 months. The car will still be inspected so damage
beyond normal wear and tear will count but the mileage penalty will be curtailed.
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