Any car leasing experts? Need a sanity check

[markbmcfc]

Hi all,

Just need a sanity check on excess mileage charges if anyone has experience of leasing.

After a 330e leasing company wants £352.88 for 5k annual mileage over 48 months. £430.69 for 15k mileage (around what i'll use give or take a few miles)

5k: £352.88
15k: £430.69
Diff: £77.81 per month

Excess mileage charge is fixed at 14.04p per mile and doesn't increase if you go over by a certain amount.

£77.81 x 50 months (inc the initials) = £3890.50

10,000 miles at 0.1404 = £1404

To my maths it's £2,486.50 cheaper for 5k?

Am I being stupid or is my arithmetic sound? Therefore is it safe to deduce the leasing company is pocketing from the higher mileage monthlys?

Cheers!

 

[blueparrot]

Hi all,

Just need a sanity check on excess mileage charges if anyone has experience of leasing.

After a 330e leasing company wants £352.88 for 5k annual mileage over 48 months. £430.69 for 15k mileage (around what i'll use give or take a few miles)

5k: £352.88
15k: £430.69
Diff: £77.81 per month

Excess mileage charge is fixed at 14.04p per mile and doesn't increase if you go over by a certain amount.

£77.81 x 50 months (inc the initials) = £3890.50

10,000 miles at 0.1404 = £1404

To my maths it's £2,486.50 cheaper for 5k?

Am I being stupid or is my arithmetic sound? Therefore is it safe to deduce the leasing company is pocketing from the higher mileage monthlys?

Cheers!

May be misunderstanding but isn't it 10,000 miles and £1404 per year, so equivalent to 50 months £5850 as opposed to£3890.50

 

[markbmcfc]

May be misunderstanding but isn't it 10,000 miles and £1404 per year, so equivalent to 50 months £5850 as opposed to£3890.50

Ah fucking hell what a dope lol.

Yes, see, when your brain fails, there's always bluemoon.

 

[TheRemainsOfTheDave]

May be misunderstanding but isn't it 10,000 miles and £1404 per year, so equivalent to 50 months £5850 as opposed to£3890.50

No I think you're right, the OP has compared the difference in monthly payment over 4 years with the 10000 mile excess for 1 year, need to multiply that mileage excess by 4, OP.

If you want another calculation, divide the mileage excess by 12 to get the monthly amount, 10000/12 = 833, so multiply by £0.1404 = £117 per month extra, equals £40 per month more than the 15k plan.

 

[blueparrot]

Ah fucking hell what a dope lol.

Yes, see, when your brain fails, there's always bluemoon.

Good, because I've just helped my daughter with a lease and when I first saw you're post thought I'd made an expensive error.

 

[dickie davies]

47 + 3 @£352.88 = £17,644 + 40,000 @ 0.1404 (£5616) = £23,260

47 + 3 @ £430.69 = £21,535

 

[markbmcfc]

I'll resist deleting the thread in case anyone is as stupid as me and makes the same mistake. Thanks all.

 

[TheRemainsOfTheDave]

I'll resist deleting the thread in case anyone is as stupid as me and makes the same mistake. Thanks all.

I'm pretty good at maths but have made similar mistakes in the past. Once was defending our season ticket prices saying they were less than £20 a game then realised I'd divided by 38 (not just the 19 home games) ... d'oh!

 

[dickie davies]

Why are you leasing when you can buy a 2018 model for around the same money and in four years time it'll still be worth £10k?

https://www.autotrader.co.uk/car-se...to=25000&year-from=2018&maximum-mileage=20000

 

[markbmcfc]

Why are you leasing when you can buy a 2018 model for around the same money and in four years time it'll still be worth £10k?

https://www.autotrader.co.uk/car-search?sort=price-desc&postcode=m11aa&radius=1500&onesearchad=Used&onesearchad=Nearly New&onesearchad=New&make=BMW&model=3 SERIES&aggregatedTrim=330e&price-to=25000&year-from=2018&maximum-mileage=20000

2019 car is a different model year and vastly better car.